CA Corrections Wastes $1.08 Billion of Stimulus
CALIFORNIA STATE AUDITOR finds CDCR laid off 3655 state prison guards just days before receiving Stimulus funds and paying out $450 million in wages, then reported 18,229 jobs “retained” as it paid out the balance of $1.08 billion in Stimulus to CDCR.
According to CDCR records, at most 5000 jobs were retained at a cost of $360,000 each. What appears to have actually happened is Corrections paid 18,229 prison guards $59,000 each without the guards missing a day of work and no job being created.
The state now pays $48,563 a year/$133 per day to keep each prisoner while it contracts out the same service for $23,000 a year, or $63 per day to Arizona prison facilities.
This is just the tip of the iceberg at Corrections.
February 23, 2010 Add Comments
Jobless Californians Stagger Economy
UNEMLOYMENT is so high in real terms it is unlikely California will recover by 2012, or in the foreseeable future. Via Pacific Research CalWatchDog.
Nothing new here folks. Everything in CA is okay… move along.
AustinBusinessNews reports downtown expected to boom. Jobs available in comparative government economics.
Related: Top Ten Metros Creating and Sustain Jobs from the Milken Institute. Austin, Fort Hood, Salt Lake City, McAllen (TX), Houston, Durham, Olympia, Huntsville, Lafayette (TX) and Raleigh. Silicon Valley Whoopadaisy.
February 22, 2010 Add Comments
CA Senate Passes Tax On Amazon
CA STATE SENATE just passed a bill to impose sales taxes on Californians purchasing on Amazon. Assembly is to follow.
More anti-tech, anti-job, and pro get out of CA actions from CA government.
The Failed State state of denial. Austin, TX anyone?
February 21, 2010 Add Comments
When Statistics Become Misrepresentation
BLOOMBERG TV reports year end job losses are being revised upward 824,000.
Federal agencies, like the Bureau of Labor Statistics, are now engaged in intentional misrepresentation of fact, also known in the private industry as fraud. Did someone say there is a “trust deficit” between the public and Washington D.C.?
February 3, 2010 Add Comments
How Low Will Home Prices Go?
DR. HOUSING BUBBLE takes up this important question here.
The answer is home prices will fall significantly in California. Home prices at 10x median annual income were not sustainable. Given the fact that high unemployment will also become a significant factor, home prices will fall to about 2.5x annual income. This factors in record low mortgage interest rates.
But what happens in cities in California where the population is declining?
December 1, 2009 1 Comment
