Great news: $111 million in stimulus money to L.A. produces … 54 jobs

Actually, to be precise, the money produced 54.46 jobs, so it’s almost half a job better than it sounds. And in fairness, some of the waste is doubtless due to mismanagement by California’s horrible municipal governments. Who knows? With a solid leadership at the local level, this hundred mil could have produced, say, 70-80 jobs.

Department of Public Works (DPW) has received $70.65 million and created or retained 45.46 jobs, though they are expected to create 238 jobs overall (the fraction of a job created or retained correlates to the number of actual hours works). Department of Transportation (LADOT) has been awarded $40.8 million and created or retained 9 jobs, though they are expected to create 26 jobs overall. Overall, the Departments have received $111 million in federal stimulus funds out of the $594 million the City has been awarded so far and created or retained 54.46 jobs.

$111 million for 55 jobs. That’s $2 million per job.

Even if you look at the number of jobs they expect to create (”or save”), it’s only 264.

$111 million for 264 jobs is about $420,454 per job.

Hey, can you guys create a 56th job for me? I could use $2 million.

Failing that, can you return my tax dollars that you wasted?
Elsewhere in the document, the comptroller concedes that it’s “difficult to distinguish between ARRA-related expenditures and expenditures using City funds.” In other words, to credit the stimulus money with creating — or saving! — even 54 jobs might be too much.

And that’s what we’ve got going on tonight in the “your tax dollars at work” department



About limelite001

This is my tribute to highlighting the hyposcrisy in the left and racial world...

Posted on 17 September 2010, in Uncategorized. Bookmark the permalink. Leave a comment.

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