Stepping on Obama's Stimulus message
The Obama administration released its list of 100 useful stimulus programs this week, but in Los Angeles $111 million "saved" 55 jobs.
Here is also how the NSF spends its money.
More than a year after Congress approved $800 billion in stimulus funds, the Los Angeles city controller has released a 40-page report on how the city spent its share, and the results are not living up to expectations.
"I'm disappointed that we've only created or retained 55 jobs after receiving $111 million," said Wendy Greuel, the city's controller. "With our local unemployment rate over 12 percent we need to do a better job cutting red tape and putting Angelenos back to work."
According to the audit, the Los Angeles Department of Public Works spent $70 million in stimulus funds -- in return, it created seven private sector jobs and saved seven workers from layoffs. Taxpayer cost per job: $1.5 million.
The Los Angeles Department of Transportation created even fewer jobs per dollar, spending $40 million but netting just nine jobs. Taxpayer cost per job: $4.4 million. . . .
Here is also how the NSF spends its money.
Labels: stimulus
posted by John Lott at 10:27 AM
3 Comments:
The greater fallacy not dealt with in the article is that these "jobs" will create no revenue stream to support them once the gift from the feds goes away.
These jobs require taxpayer funding, and with Los Angeles City and County broke, CA broke, the feds broke, and tax receipts plunging for all these entities...just how will these new jobs be sustained?
Creating more jobs that require continuing taxpayer support is ludicrous when active steps are being taken at multiple levels of government to hinder private sector hiring and investment.
The analogy would be to replace a Prius with a Hummer as you shut down local refineries and ban the import of gasoline.
That the smarties in DC don't understand this means to me they just ain't very smart or their intentions are not as described. Liars or idiots, maybe both.
1.5 million dollars. Wow! How'd the gov't know exactly what it costs my employer to employ me!
Someone explain to me again how socialism is supposed to make things better.
Actually, ~$2M for per job makes sense to me.
Of course, that's based on putting the cash into a savings account, and paying the wages out of the 2.5% interest you're collecting, which I'm sure the government didn't do...
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