stimulus

Stimulus Price Tag:
$2,000,000 Per Job Created

by Robert P. Heslin, for ElectionDebates.com

Government bean-counters in Los Angeles are finding out how little good the Obama Administration's stimulus gravy train is doing them.

The City Controller found after an audit that each new stimulus-created job came with a whopping price tag: $2 million.

L.A. received $111 million in stimulus funds under the American Recovery and Reinvestment Act (ARRA).
According to the City Controller's report, that $111 million created only 55 new jobs. Dividing $111 million by 55 gives you a figure of just over $2 million per job created.
The city's unemployment rate continues to top 12%.
The Los Angeles Department of Public Works created just 45 jobs from its $70.65 million share of stimulus money.

That comes out to over $1.5 million per job created.

The Department's goal was 238 jobs.
As bad as that is, it's still better than the Department of Transportation, which got $40.8 million in stimulus money and created only 9 jobs from it.

That averages out to more than $4.5 million per job.

Read the whole article here.