Monday, November 16, 2009

Billions for state, but where are jobs? deux

Billions for state, but where are jobs?
"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.'"

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