Stimulus more work, than jobs provided

We have been saying that it would have been a better use of $787B and stimulate the economy faster to hand out a credit card to every citizen to buy something. We thought each American citizen could get a prepaid Visa for $4,000 and buy stuff with it excluding turning it to cash or paying bills. Our detractors said that that would not create jobs which were the goal of the Recovery Act, remember keeping unemployment under eight. We find out it is even worse than we had thought. The Los Angeles City Controller said the city’s use of its share of the $787 billion federal stimulus fund has been disappointing. The city received $111 million in stimulus under American Recovery and Reinvestment Act more than year ago. They have only created or retained 55 jobs after receiving $111 million. They are way over the target in Los Angeles as local unemployment rate over 12%. The expectation was after receiving $70.65 million; they would create and retain 238 jobs. When they received another $40.8 million they created only nine jobs in place of an expected 26 jobs. We heard the same old excuses just like when we see contracts with no show union jobs. They give us the same old song and dance lines, 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. You do the math 64 jobs for $111 million in tax money wasted on bad results, from another bad plan from Washington.

http://tea512.sunpride2000.com/2010/09/17/stimulus-more-work-than-jobs-provided/ 

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