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Old September 17th, 2010, 04:13 PM   #1
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L.A. Spent $70m to create 7.72 Stimulus Jobs

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



Even more stimulus money was waste saving a few jobs.



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 $111m figure includes other areas where they were slightly more efficient in creating jobs.



This is what government does - creates expensive jobs at a cost far beyond that of the private sector.



My favorite: $5000 (excluding labor!) per location to change lightbulbs at various locations.



The jobs "created or saved" was far below the fed's prediction (no surprise).



Give one person the $111m to create 200 jobs picking up trash at $50k per year.
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Old September 25th, 2010, 05:49 AM   #2
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Damn greedy CEO's!
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Old September 25th, 2010, 12:44 PM   #3
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Broader U-6 Jobless Rate up to 16.7%: Why the Jump? - Real Time Economics - WSJ
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Old September 26th, 2010, 06:49 AM   #4
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Is there anything important being said here?
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Old September 26th, 2010, 07:25 AM   #5
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Originally Posted by fayt87linegod
Is there anything important being said here?


That was a rather dismissive and arrogant response - you don't think it is important that the taxpayer's $70m created only 7.7 jobs? It illustrates (1) problems with the stimulus plan and (2) the government's inefficiency at creating jobs.



We talk about Wall Street greed and income ... but what about this crap?
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Old September 26th, 2010, 07:37 AM   #6
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Did you see the John Stossel show presented the last several days The Battle for the Future? FOXNews.com - JOHN STOSSEL: The Battle for the Future



Great program and it explains a lot about unemployment trends and unemployment insurance.
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Old September 26th, 2010, 08:05 AM   #7
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Originally Posted by leighredf
That was a rather dismissive and arrogant response - you don't think it is important that the taxpayer's $70m created only 7.7 jobs? It illustrates (1) problems with the stimulus plan and (2) the government's inefficiency at creating jobs.



We talk about Wall Street greed and income ... but what about this crap?


Have you guys heard? Recession is over, so what's the problem? jk,



Look I understand it's not enough (stimulus), so what are your ideas for a solution? or solutions
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Old September 26th, 2010, 08:22 AM   #8
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Originally Posted by fayt87linegod
Have you guys heard? Recession is over, so what's the problem? jk,



Look I understand it's not enough (stimulus), so what are your ideas for a solution? or solutions
Get government out of the way of business!
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Old September 26th, 2010, 10:23 AM   #9
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Originally Posted by Zack
Get government out of the way of business!


Do anyone have anything that makes sense?
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Old September 26th, 2010, 11:08 AM   #10
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Quote:
Originally Posted by fayt87linegod
Do anyone have anything that makes sense?
The answer to your question was in the quote... Get government out of the way of business!



The reason the recovery is moving so slow is government is in the way of business... We have federal agencies chiefs that congress gave authority to make up rules as they see fit without the consent of congress... we have a healthcare bill that falls in that same arena with skyrocketing insurance premiums... we have the government weakening the US dollar with reckless spending that doesn't result in jobs or recovery... we have federal regulations that effect small businessmen all the way down to hot dog vender's... Government get the hell out of the way and stop spending money!



Jesus Christ, the government can't even set next years tax rates for business to plan from.
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Old September 27th, 2010, 08:47 AM   #11
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Quote:
Originally Posted by fayt87linegod
Have you guys heard? Recession is over, so what's the problem? jk,



Look I understand it's not enough (stimulus), so what are your ideas for a solution? or solutions


I don't think that the problem is "not enough" stimulus. The problem is that the stimulus does not achieve the desired results. It only becomes a huge pile of money borrowed from the Chinese to be paid back by our children that is skimmed by profiteers and government hooligans, to the detriment of the overall economy.



Stimulus spending does have it's place, but must be carefully targeted and judiciously used. Obama's was neither.
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Old September 27th, 2010, 08:54 AM   #12
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That headline is a tad misleading to put it mildly!



Most of the stimulus money to L.A. and other local governments went on funding the cash shortfall necessary to pay welfare, unemployment insurance, Medicaid etc.



Without the money from the Fed to dig out states and cities there could've been riots all over the country.



Those payments create jobs and prevent jobs from being lost, but it's impossible to track that.



I'm not saying it's a good thing but that's the facts.



American Recovery Act

$288bn in tax cuts to companies and individuals

$147bn health care

$91bn Education

$82bn aid to the unemployed

$81bn infrastructure

$61bn energy
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Old September 27th, 2010, 08:56 AM   #13
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. Get government out of the way of business!




In principle I agree, but it's all about balance. There has to be some regulation.



If you leave business to self-regulate too much, they securitise toxic assets and sell them all over the world and you end up with the banking crisis of 2008.
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Old September 27th, 2010, 09:09 AM   #14
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Originally Posted by garysher




In principle I agree, but it's all about balance. There has to be some regulation.



If you leave business to self-regulate too much, they securitise toxic assets and sell them all over the world and you end up with the banking crisis of 2008.


Agree that there need to be "laws of the game" and a savvy, fair referee to ensure a fair match. But when the referees take it upon themselves to call the game in favor of the players who contribute to the referee's nest egg, or decide that a certain sympathetic team should not be allowed to lose, then the game falls into disrepute, no?
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Old September 27th, 2010, 09:20 AM   #15
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Originally Posted by scrjnki
Agree that there need to be "laws of the game" and a savvy, fair referee to ensure a fair match. But when the referees take it upon themselves to call the game in favor of the players who contribute to the referee's nest egg, or decide that a certain sympathetic team should not be allowed to lose, then the game falls into disrepute, no?




Absolutely right.



And now that corporations, unions, etc can give unlimited political donations - for the first time - Congress will soon look like the NFL.



How long before we see Senators walk on to the floor of the House with Budweiser or Exxon or Glaxo or Aetna on their shirts??

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Old September 27th, 2010, 10:41 AM   #16
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The headline was not misleading.



L.A.'s own audit report concluded the same conclusion as the headline.
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Old September 27th, 2010, 10:54 AM   #17
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You forgot a link.

Report: Los Angeles spent $70 million in stimulus funds to create 7.76 jobs | The Upshot Yahoo! News - Yahoo! News
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Old September 27th, 2010, 11:39 AM   #18
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Quote:
Originally Posted by leighredf
The headline was not misleading.



L.A.'s own audit report concluded the same conclusion as the headline.




Then the headline was misleading.



I don't doubt there was huge inefficiency - especially in L.A. - but a lot of jobs saved by the Stimulus legislation are hidden.
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Old September 27th, 2010, 12:05 PM   #19
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Quote:
Originally Posted by garysher

Then the headline was misleading.



I don't doubt there was huge inefficiency - especially in L.A. - but a lot of jobs saved by the Stimulus legislation are hidden.


Translation: No one can prove they were saved.
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Old September 27th, 2010, 12:15 PM   #20
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Translation: No one can prove they were saved.




Or not saved!

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