It looks like A123 Systems, which recently went belly-up after burning through $129 million in Federal loan guarantees, wasn’t totally useless after all. Apparently they did create a few jobs while the money lasted.
By the most generous count possible (combining all reports over the life of the company), they created at most 408 new jobs with that Federal money. That averages out to over $316k in taxpayer money spent per job created.
Even the Federal government itself does better than that.