L.A.: $111M in Stimulus Saved Just 55 Jobs

[Gerald]

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."

http://www.foxnews.com/politics/2010/09/16/los-angeles-official-disappointed-city-used-stimulus-funds/




Note:Published September 17, 2010

[The Third Man]

Well at least those 55 jobs are worth the $2 million dollars each. More rich folks to tax.

[Gerald]

Two M per nose, hope nobody gets a cold

[Ducimus]

IMO, this is related to being a Service based economy , and it sucks balls. We're never going to recover until we start producing tangible objects in this country that people want to buy. They can let all the "stimulus" they want, but it's not going to do much. I imagine there are alot more people then myself that is socking away every dime.

[Gerald]

I have to say that these incentives were wasted, and went to the bureaucracy and its mills, certain incentives are good but at what price to pay for a citizen to get a job.

[The Third Man]

Many folks want to give Barack Obama a break. I understand that because they voted for him. But after 20 months some change that helps the American people should have materialized.


However a 789 billion dollar stimulus which Obama himself said would keep unemployment at or below 8% turns out to be untrue and waisted on things like genital cleansing, how can you not realise Obama is a bad guy?

[Platapus]

IMO, this is related to being a Service based economy , and it sucks balls. We're never going to recover until we start producing tangible objects in this country that people want to buy. They can let all the "stimulus" they want, but it's not going to do much. I imagine there are alot more people then myself that is socking away every dime.


First Americans need to learn how to make quality products again and second Americans need to recognize the value of the products. Companies can't pay people $50,000 per year to make socks. :nope:

As a capitalist, I am not willing to pay a lot of money for low quality no matter what nation makes it.

The question is: CAN America ever go back to a manufacturing industry? Or has that train left the station for Asia for good? And let's not forget Africa. If Africa can get its act together they have the raw materials and the labour to underbid everyone and still make a profit.

[The Third Man]

First Americans need to learn how to make quality products again and second Americans need to recognize the value of the products. Companies can't pay people $50,000 per year to make socks. :nope:

As a capitalist, I am not willing to pay a lot of money for low quality no matter what nation makes it.

The question is: CAN America ever go back to a manufacturing industry? Or has that train left the station for Asia for good? And let's not forget Africa. If Africa can get its act together they have the raw materials and the labour to underbid everyone and still make a profit.

The Nixon legacy is the EPA. Unless we allow the death of some species we will never be industrially competative again.

Many in this nation, USA, don't understand the value of an industrial society.

[Gerald]

First Americans need to learn how to make quality products again and second Americans need to recognize the value of the products. Companies can't pay people $50,000 per year to make socks. :nope:

As a capitalist, I am not willing to pay a lot of money for low quality no matter what nation makes it.

The question is: CAN America ever go back to a manufacturing industry? Or has that train left the station for Asia for good? And let's not forget Africa. If Africa can get its act together they have the raw materials and the labour to underbid everyone and still make a profit. but not with a policy based on the financing project without meaning,it requires more investment and so on what is relevant both today and tomorrow

[Ducimus]

The question is: CAN America ever go back to a manufacturing industry? Or has that train left the station for Asia for good? .

It can... only after making crap in china becomes too expensive for the big business executives, and making it here is cheaper because Amercian's are improvished and will take anything they can get for crap wages. That may not happen for another 100 years, but i think its plausible. The way our jobs and economy is erroding away, we'll be a poor and broke enough nation to look attractive to outsource labor to in no time.

[JU_88]

It can... only after making crap in china becomes too expensive for the big business executives, and making it here is cheaper because Amercian's are improvished and will take anything they can get for crap wages. That may not happen for another 100 years, but i think its plausible. The way our jobs and economy is erroding away, we'll be a poor and broke enough nation to look attractive to outsource labor to in no time.

Nahh you'll be fine - that is the unfortunate nature of capitalism, you get booms and you get busts.
Its ****ty now, but it doesn't mean it wont be ok in 5-10 years time.

[krashkart]

Many folks want to give Barack Obama a break. I understand that because they voted for him. But after 20 months some change that helps the American people should have materialized.


However a 789 billion dollar stimulus which Obama himself said would keep unemployment at or below 8% turns out to be untrue and waisted on things like genital cleansing, how can you not realise Obama is a bad guy?

Where the money goes is outside the President's sphere of influence, isn't it? He can try to get a bill through the hammer mill, but once it's released into the wild it's up to the recipients where that money goes. Who was responsible for doling the money out at the state level? Around here I think it's Chet Culver. :hmmm:

Anyhow, 20 months is not nearly enough time to really see a change for the better. Might be several Presidents down the road before things are running smoothly again. Who knows? *shrug*

[Gerald]

He needs more than 20 months to get a stable platform, but because the situation is tight in general, so people expect results.IMO so will require more significant to him and his coming to get a reasonable balance.

[Sailor Steve]

I have to say that these incentives were wasted, and went to the bureaucracy and its mills, certain incentives are good but at what price to pay for a citizen to get a job.
But that's what happens whenever government has money to spend - it gets wasted on the system.

[Gerald]

But that's what happens whenever government has money to spend - it gets wasted on the system. But authorities forget easily, and does not take lessons on what has been.

[gimpy117]

now you know why California's economy is in the tank. the get all that money, and thats all they can do with it. :down:

[Gerald]

Very clever, it sucks hard!