Way to Go!!

[1969912 0]

"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," says Wendy Greuel, the city's controller. "With our local unemployment rate over 12% 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 and created 7 private sector jobs and saved 7 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 yet netting just 9 jobs. Taxpayer cost per job: $4.4 million....."

http://www.foxnews.com/politics/2010/09/16/los-angeles-official-disappointed-city-used-stimulus-funds/

"Once we got to the point where twenty/something's needed a place on the corner that changed the oil in their cars we were doomed . . ."
-NickDG

[skipbelt 0]

interesting , thx for posting !

[turtlespeed 226]

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"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," says Wendy Greuel, the city's controller. "With our local unemployment rate over 12% 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 and created 7 private sector jobs and saved 7 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 yet netting just 9 jobs. Taxpayer cost per job: $4.4 million....."

http://www.foxnews.com/politics/2010/09/16/los-angeles-official-disappointed-city-used-stimulus-funds/

You can't post anything from Fox here.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[skipbelt 0]

by can't he means should always !

[quade 4]

It's a bogus analysis though. It makes it sound like all that money came to LA and except for the few jobs it created the money vaporized into thin air, but that's clearly not the case. Even if it paid for some existing workers, that kept them either off unemployment or helped to lower the state debt and therefore taxes.

The money was also spent on items that kept other people employed, they in turn spent it on other things like food which sent money to other parts of the country as well.

quade -
The World's Most Boring Skydiver

[1969912 0]

Quote

You can't post anything from Fox here.

You're right. I'll just do like Billvon and "quote" something without attribution:


"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," says Wendy Greuel, the city's controller. "With our local unemployment rate over 12% 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 and created 7 private sector jobs and saved 7 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 yet netting just 9 jobs. Taxpayer cost per job: $4.4 million.

Greuel blamed the dismal numbers on several factors:

1. Bureaucratic red tape: 4 highway projects did not even go out to bid UNTIL 7 months AFTER they were authorized.

2. Projects that were supposed to be competitively bid in the private sector went instead went to city workers.

3. Stimulus money was not properly tracked within departments

4. Both departments could not report the jobs created and retained in a timely fashion..

"I would say maybe in a grade, a B- in creating the jobs," Grueul told Fox News. "They have started to spend those dollars but it took seven months to get some of those contracts out. We think in the city that we should move quickly and not in the same usual bureaucratic ways.""

"Once we got to the point where twenty/something's needed a place on the corner that changed the oil in their cars we were doomed . . ."
-NickDG

[CanuckInUSA 0]

Don't worry, the government can just call their friends up at the Federal Reserve and invent more money out of thin air devaluing the current money supply even more than it has already been devalued. The $40 million per job will soon be $100 million.

Spend spend spend ... that is all politicians know what to do these days, besides lying to their loyal lemmings. "Yes we can" ... yes we can my ass. More like "Yes we can bankrupt the nation faster than GWB was planning on doing it". The Hollywood President should have stayed in Hollywood.

Try not to worry about the things you have no control over

[turtlespeed 226]

Quote

It's a bogus analysis though. It makes it sound like all that money came to LA and except for the few jobs it created the money vaporized into thin air, but that's clearly not the case. Even if it paid for some existing workers, that kept them either off unemployment or helped to lower the state debt and therefore taxes.

The money was also spent on items that kept other people employed, they in turn spent it on other things like food which sent money to other parts of the country as well.

No - it sounded like the money was spent on other things instead of what it was supposed to be used for.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[rhaig 0]

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It's a bogus analysis though.

yes, "jobs created or saved" is a bogus metric. Even when it comes from the office of the POTUS.

--
Rob

[Kennedy 0]

Quote

Don't worry, the government can just call their friends up at the Federal Reserve and invent more money out of thin air devaluing the current money supply even more than it has already been devalued. The $40 million per job will soon be $100 million.

Spend spend spend ... that is all politicians know what to do these days, besides lying to their loyal lemmings. "Yes we can" ... yes we can my ass. More like "Yes we can bankrupt the nation faster than GWB was planning on doing it". The Hollywood President should have stayed in Hollywood.

+1

witty subliminal message
Guard your honor, let your reputation fall where it will, and outlast the bastards.
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