Senator Doug Overbey touted his job creation efforts during his reelection campaign this year by saying that the TN Investco program has created jobs. The latest review shows it to be largely unaccountable and a big flop at creating jobs. The Beacon Center of Tennessee is calling for it to be shut down.
$200 million is a large sum of money, particularly when estimates show only 752 jobs created at a cost of $140,000 per job. However, that number may not be accurate because auditors don’t know exactly how many jobs have been created.
The audit found “pervasive noncompliance with program requirements,” which increased the “risk of fraud, waste and abuse,” as well as “increasing the risk that the state may be liable for unauthorized services.”
This kind of agency/program is ripe for abuse and is nothing more than fascism. Government shouldn’t be picking winners and losers. Let the free market work. Tax incentives should be given to all and capital should only be obtained if people are willing to finance it.
It’s ashamed that challenger Scott Hughes didn’t offer something besides, I am more conservative than Overbey. Tea Partiers across the State went gaga over Hughes, who offered nothing in the way of reigning in out of control government, and wasted almost all their efforts on the Hughes Overbey race. This was a poor choice to focus efforts on, when the sizable sum of money that Overbey has and continues to raise is considered.
The other race that Tea Partiers focused on was the Maggart Rogers race, but I don’t consider the Rogers win a Tea Party success. Rogers success came largely from the gun groups throwing big bucks into that race. There are good people within the Tea Party groups, but the overall efforts in supporting and electing good legislators have resulted in mostly failures or no effort at all. Thus far, Tennessee Tea Partiers have put little money behind their saber rattling.