From the NY Post:
The $1 billion in stimulus cash being spent in city schools this year has not created new jobs, and may be one of worst uses of funds aimed at jumpstarting the economy, experts say.
The Department of Education doled out $625 million this year to 1,475 schools, instructing that most of the money go for staffers that "would otherwise have been cut." The rest is helping pay the rising cost of fringe benefits and administrative costs.
No cash is going to build or repair schools.
Chancellor Joel Klein had threatened 14,000 teacher layoffs before the stimulus, but not one has gotten a pink slip.
Instead, the DOE now has 1,400 "excess" teachers getting paid without jobs to fill.
It's fiercely debated whether the DOE's gobbling up $2 billion in stimulus funds over two years -- 36 percent of the city's total share -- is boosting the economy or bloating a bureaucracy.