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Report: Los Angeles spent $70 million in stimulus funds to create 7.76 jobsBy John CookThe Upshot Yahoo! News Oct. 22, 2010 |
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 A new piece of evidence has emerged in the debate over the effectiveness of President Obama's 2009 stimulus package, and it's not good for Democrats. According to two newly released audits performed by the Los Angeles controller, L.A. spent enormous portions of the $594 million in stimulus funds it received on projects that created or saved just a handful of jobs. All told, the audits -- available here and here [pdf] -- examined $111 million in stimulus spending by the city's Department of Transportation and Department of Public Works, and found that the money went to projects that created or retained just 54 jobs. That works out to roughly $2 million per job. Read More |
