Stimulus 12 million per job

[DOGS THAT BARK]

Probably won't find this on stimulus.gov website <HR>


Audit: $2 million per stimulus job

Stimulus funds failed to create enough jobs: LA City Controller

By IB Times Staff Reporter | September 17, 2010 3:41 AM EDT
The Los Angeles City Controller said on Thursday the city's use of its share of the $800 billion federal stimulus find has been disappointing.
The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.

"I'm disappointed that we've only created or retained 55 jobs after receiving $111 million," says Wendy Greuel, the city's controller, while releasing an audit report.
"With our local unemployment rate over 12% we need to do a better job cutting red tape and putting Angelenos back to work,? she added.
According to the report, the Los Angeles Department of Public Works generated only 45.46 jobs (the fraction of a job created or retained correlates to the number of actual hours works) after receiving $70.65 million, while the target was 238 jobs.
Similarly, the city?s department of transportation, armed with a $40.8 million fund, created only 9 jobs in place of an expected 26 jobs.

The audit says the numbers were disappointing due to bureaucratic red tape, absence of competitive bidding for projects in private sectors, inappropriate tracking of stimulus money and a laxity in bringing out timely job reports.
?While it doesn?t appear that any of the ARRA funds were misspent, the City needs to do a better job expediting the process and creating jobs,? she said.

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went to http://www.recovery.gov/Pages/home.aspx

and not a lot of happy campers there either--

Recovery Poll



<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD id=MSOZoneCell_WebPartWPQ8 vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%" TOPLEVEL><TBODY><TR><TD vAlign=top>Does Recovery.gov fulfill your idea of transparency in government?

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I wonder if anyone else has a prob with this--


This was passed in middle of night by Dem majority--on pretext of stimulus to economy--

Overview of Funding
The American Recovery and Reinvestment Act of 2009 distributes the $787 billion as follows:
<TABLE class=r-chart width="50%" xmlns:ms="urn:schemas-microsoft-com:xslt" xmlns:rs="urn:schemas-microsoft-com:rowset" xmlns:z="#RowsetSchema"><THEAD><TR><TH scope=col align=left>Category</TH><TH scope=col align=right>Total Recovery Act Funds</TH><TH scope=col align=right>Funds Paid Out</TH></TR></THEAD><TBODY><TR class=oddrow><TH class="text_view_data first" scope=row>Tax Benefits </TH><TD class=text_view_data align=right>$288B </TD><TD class=text_view_data align=right>$223B </TD></TR><TR class=evenrow><TH class="text_view_data first" scope=row>Contracts, Grants, Loans </TH><TD class=text_view_data align=right>$275B </TD><TD class=text_view_data align=right>$148B </TD></TR><TR class=oddrow><TH class="text_view_data first" scope=row>Entitlements </TH><TD class=text_view_data align=right>$224B </TD><TD class=text_view_data align=right>$144B </TD></TR></TBODY></TABLE>Updated: 09/03/2010

Source for Distributing and Reporting: US Treasury, Federal Agency Financial and Activity Reports

 

[shawn555]

Where does it say 12 million per stimulus job?

 

[Duff Miver]

doggie is trying to mislead again.

He counts the money as spent, when in fact it has been received but mostly not spent.

He counts the jobs created as of today, although the process is ongoing and many more jobs will be created.

Shame, shame...bad doggie.

 

[Chadman]

The stimulus programs are not just about creating jobs, and measuring them as such ignores the real picture. The stimulus measures are designed to stimulate the economy, with jobs, revenue, products purchased, tax revenues due to the projects, and programs being established for future gains.

They are programs and projects that would not have happened at all, which would have resulted in even less economic activity.

Sounds like the city and state did a poor job of managing the projects and program, to me. Which seems to be status quo for Kahliforneeah.

 

[lowell]

looks like 2 of the 4 people in the country that think the stimulus worked are on this board.

 

[Chadman]

Well, it would depend on what you call or consider worked. I don't think it resulted in much positive or tangible from an overall standpoint, and I'm probably not in favor of any more stimulus without cuts in other areas (across the board). I will always wonder what would have happened to the country had the first stimulus not been done to shore up the financial crisis, and there are very few on this board or elsewhere that can say for sure that things would have been fine without it. As I've said before, there were plenty on the right, left and center that said we HAD to do something to keep the financial and insurance sectors from crashing at that time.

Hard to say. My point was, not to measure the stimulus only by job creation and retention values, as I don't think that's fair.

 

[rusty]

Heres the report but in a diff. article.


Report: Los Angeles spent $70 million in stimulus funds to create 7.76 jobs
By John Cook



By John Cook john Cook ? Fri Sep 17, 12:15 pm ET

A new piece of evidence has emerged in the debate over the effectiveness of President Obama's 2009 stimulus package, and it's not good for Democrats. According to two newly released audits performed by the Los Angeles controller, L.A. spent enormous portions of the $594 million in stimulus funds it received on projects that created or saved just a handful of jobs. All told, the audits ? available here and here [pdf] ? examined $111 million in stimulus spending by the city's Department of Transportation and Department of Public Works, and found that the money went to projects that created or retained just 54 jobs. That works out to roughly $2 million per job.

The $71 million that went to the Department of Public Works, which funded 15 road-surfacing and similar projects, was projected to save or create 238 jobs. But according to the audit, the money created just 7.76 jobs — or slightly more than $10 million per new job — and saved 37.7 (the fractions are a result of calculating the number of jobs by hours worked). The Department of Transportation's $40 million created or retained just nine jobs, the audit found.

In a press release accompanying the audits [pdf], L.A. Controller Wendy Greuel said the job numbers were underwhelming. "I'm disappointed that we've only created or retained 55 jobs after receiving $111 million in [stimulus] funds," Greuel said. "With our local unemployment rate over 12 percent, we need to do a better job cutting the red tape and putting Angelenos back to work."

The audit didn't find any misspent funds or waste. But the breakdown of how some of the money was spent seems to indicate efficiency was not exactly the order of the day for project managers. The Department of Transportation, for instance, spent $9 million to install new LED lightbulbs in traffic lights at 1,800 intersections. Less the $228,000 in labor costs associated with the project, that's nearly $5,000 per location to change lightbulbs. Another project spent $4 million to install 65 new left-turn arrows, averaging more than $61,500 per arrow.

 

[rusty]

doggie is trying to mislead again.

He counts the money as spent, when in fact it has been received but mostly not spent.

He counts the jobs created as of today, although the process is ongoing and many more jobs will be created.

Shame, shame...bad doggie.

:mj07: