17 July 2009
Obama's Economists: 'Stimulus' Has Cost $278,000 per Job
The report was written by the White House's Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the "stimulus" in adding or saving jobs. The council reports that, using "mainstream estimates of economic multipliers for the effects of fiscal stimulus" (which it describes as a "natural way to estimate the effects of" the legislation), the "stimulus" has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That's a cost to taxpayers of $278,000 per job.
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the "stimulus," and taxpayers would have come out $427 billion ahead.
You invited the forum to discuss this issue with you 2 years down the line.
Well, what the hell happened? :???: :???: :???:
Oldtimer said:The Jobs/Stimulus bill is not even 6 months into what is a 2 year plan...Many of the local jobs just started because of weather- others are held up because the factories can't get geared up fast enough to make the steel needed....
You don't just go from a country on the brink of oblivion (where Bush had taken us) to a full blown booming economy overnight.....
Talk to me about it 2 years down the line...
Obama's Economists: 'Stimulus' Has Cost $278,000 per Job
The report was written by the White House's Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the "stimulus" in adding or saving jobs. The council reports that, using "mainstream estimates of economic multipliers for the effects of fiscal stimulus" (which it describes as a "natural way to estimate the effects of" the legislation), the "stimulus" has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That's a cost to taxpayers of $278,000 per job.
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the "stimulus," and taxpayers would have come out $427 billion ahead.
You invited the forum to discuss this issue with you 2 years down the line.
Well, what the hell happened? :???: :???: :???: