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," said 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 funds 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 but netting just 9 jobs. Taxpayer cost per job: $4.4 million.
Friday, September 17, 2010
There's 10,000 stories just like this across America.
Posted by traderrob at 4:58 AM