If you listen to the Marxists progressives on the far left, you would be left thinking that more and more spending by the government is the only way to stimulate the economy. They claim that building roads, bridges, trains, the very infrastructure that forms the backbone of this great land will create jobs, which in turn will generate consumer spending and pull us out of the quagmire we are in. Let government “prime the pump.” Well, if only it were that simple. You might want to sit down for this one:
CITY CONTROLLER RELEASES AUDITS OF HOW LOS ANGELES HAS USED FEDERAL STIMULUS MONEY
$111 Million in ARRA Funds Has Only Created 55 Jobs So Far
Continuing her efforts to ensure that taxpayer money is spent efficiently and effectively, City Controller Wendy Greuel released two audits today of how the City of Los Angeles has used American Recovery and Reinvestment Act (ARRA) funds. The audits looked at the how the two departments that have received the largest amount of ARRA funding so far – the Department of Transportation (LADOT) and the Department of Public Works (DPW) – have used those funds and how many jobs were created. Los Angeles becomes the largest City in America to conduct an audit of how ARRA funds have been expended.
DPW has received $70.65 million and created or retained 45.46 jobs, though they are expected to create 238 jobs overall (the fraction of a job created or retained correlates to the number of actual hours works). LADOT has been awarded $40.8 million and created or retained 9 jobs, though they are expected to create 26 jobs overall. Overall, the Departments have received $111 million in federal stimulus funds out of the $594 million the City has been awarded so far and created or retained 54.46 jobs.
Turn on the printing presses at the Treasury, we’re going to need it at this pace! 55 jobs! Nice job Obama.
The only way to ensure that we emerge from the depression in which we find ourselves is to restore confidence in the market. Restore confidence in small business. Restore confidence in the very people that can save us; the producers. Unleashing the brilliance and ingenuity of man will allow the God given talents and abilities shine. Confidence in the future is door we must open; liberty is the key that will unlock it.
The choice this November couldn’t be any clearer