Stimulus Fail Update: $111 Million ‘Saves or Creates’ 55 Jobs in L.A.

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This clocks in at just over $2 million per job — not bad by stimulus standards:

The Los Angeles City Controller said on Thursday the city’s use of its share of the $800 billion federal stimulus fund has been disappointing.

The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.

“I’m disappointed that we’ve only created or retained 55 jobs after receiving $111 million,” says Wendy Greuel, the city’s controller, while releasing an audit report.

Sure, that’s just “saved or created,” but what about “lives touched”? I’d have to say all of our lives have been touched by this scam — groped and molested is more like it.

Remember though, Recovery Summer was about projects, not jobs. The Obama administration is going to see to it that we have only the finest looking unemployment office parking lots in the entire third world!

(h/t WZ)