(H/T to Vet on YT)
Another good example of Government spending and throwing money at states who piss it away on .....
Who knows what , It is not spent on jobs , it sure is not spent on the People , So where does it go ???
The last time I was home Back in Detroit , just a few months ago , their was so much road construction it would have almost been faster to walk home from the Airport ! that is all good except the fact that most of that money , every State gets , Every year , it already comes from a federal fund !
I am not sure how much Michigan received from the stimulus plan but with the History of this State I'm sure someone is sitting pretty right now ! And can you guess who that Governors name is ? ...Detroit Free Press
WASHINGTON -- Seven months into the massive federal stimulus program, the vast majority of government grants, contracts and loans in Michigan so far have created or retained virtually no jobs, a Free Press analysis shows.
The analysis also revealed that others who have been promised or have received stimulus money have overstated -- in some cases greatly -- the number of jobs created or protected.
Obama administration and state officials say it's too early to draw conclusions about the overall impact of the $787-billion nationwide program to stimulate the economy and generate jobs. They promise that job growth will follow as more funding arrives.
"It looks to us like the program is unfolding much as we hoped in Michigan," said White House economic adviser Jared Bernstein.
The Free Press examination of more than 1,800 government reports of those who have received or expect to receive stimulus money found the biggest impact was spurring or protecting public-sector or summer jobs -- not private-sector jobs. Michigan has the nation's worst unemployment rate.
Officials reported that by Sept. 30, some 22,500 Michigan jobs were created or retained thanks to the promise of $5.2 billion in stimulus money for the state, $1.2 billion of which had arrived.
The analysis also found:
• Three of every four stimulus grants, contracts and loans approved in Michigan created or retained one job or less.
• Fewer than 700 awards had received some money, and nearly half of those -- 327 -- had created one job or less, at a cost per job of $2.7 million.
• Some job estimates were wrong: General Motors Co., for instance, reported 105 jobs saved or created for a government purchase of 5,000 vehicles but later said no jobs were saved or created. The City of Detroit reported 342 jobs it now says were projections -- not jobs already created or retained.
Peter Morici, a University of Maryland economist, said the results suggest the stimulus won't deliver promised results.
"All those claims," he said, "are ridiculous."
Monday, November 16, 2009
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