Obama Stimulus Costing Taxpayers As Much As $2 Million Per Job
As more reports and complaints trickle in about the incredible cost per job for Obama’s stimulus bill the numbers are sickening. The private sectors average cost per job created runs about $100,000, contrast that with costs as high as $2 million per job created by Obama, Reid and Pelosi’s big government stimulus. Worse yet almost all the Obama stimulus jobs are temporary and pay higher wages then would be paid in the private sector. Obama’s complete lack of fundamental capitalism is not real shocking, like most liberal Democrats in government most have never held a real job. The one consistent point in all Obama, Reid and Pelosi’s stimulus waste is cronyism and payback. Its not real complicated to see that the Obama, Reid and Pelosi stimulus waste is driving our economy and nation into an unrecoverable state. The Democrats blathering on about not extending the complete Bush tax-cut package is telling. Why do they continue to bash wealth creation, who do they think creates jobs, homeless guys and magic ferries. Wealthy small business men create companies by risking personal or borrowed capital in hope that there risk pay’s off. Getting rich is the whole reason why these risks are undertaken why shouldn’t they benefit. The engine of capitalism is fueled by wealth creation, why do the democrats continue with there assault on capitalism. At a time when small business is struggling and job growth is non-existent, adding even greater burden with tax hikes will only continue the high unemployment. Why do democrats look at lower taxes as bad thing, people work hard for that income why is it so bad they get to keep there own money?
Employment generation disappointing: LA City Controller
By IB Times Staff Reporter
The Los Angeles City Controller said on Thursday the city’s use of its share of the $800 billion federal stimulus fund 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 of work) 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.