November 15, 2009

INSTEAD OF STIMULATING THEMSELVES...:

Billions for state, but where are jobs?: Majority of stimulus awards have brought little help (TODD SPANGLER, 11/15/09, Detroit FREE PRESS)

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. [...]

• 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."


...Democrats could have just given every Michigander a debit card to spend.


MORE:
And Georgians.... AJC: # of stimulus jobs in Ga. overstated (The Associated Press, 11/15/09)

An analysis suggests recipients of federal stimulus dollars have overstated the number of jobs created or saved in Georgia.

The Atlanta Journal-Constitution analyzed several public records and concluded the jobs saved may have been overestimated by more than 1,500.

Posted by Orrin Judd at November 15, 2009 1:13 PM
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