You know what this means, right? We need another
stimulus! Of course if you complain about this outrageous waste of taxpayer money then you're reacist or something.
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 percent 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 -- in return, it created seven private sector jobs and saved seven 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 nine jobs. Taxpayer cost per job: $4.4 million.
Naturally this abysmal failure doesn't get a failing grade. Much like Obama these folks think way too highly of themselves.
"I would say maybe in a grade, a B- in creating the jobs," Greuel told Fox News.
Well, at least they're not blaming Bush.
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