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Another Blow to California’s “Sinking” Economy

A shocking report by the Bureau of State Audits revealed that California is on the brink of losing $93 million American Recovery and Reinvestment Act money.

The staggering amount which was received July last year was earmarked for residential weatherization. However, no homes had been weatherized as of December 2009.

As a defense, the state’s Department of Community Services and Development (CSD) which was responsible for using the money pointed finger at other things. Director Lloyd Throne responded that the lack of guidance at the federal level on wage standards delayed the hiring of contractors.

Director Lloyd also added that since the department takes seriously the transparency in the choice of contractors, such delay slowed down the process.

California could not afford to lose this big amount, not with the current economic condition.

Something terribly went wrong here. Whoever will be the next governor has to act fast.

Posted in Economy, News.

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