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View Full Version : Obama Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job


petegz28
07-04-2011, 05:53 AM
When the Obama administration releases a report on the Friday before a long weekend, it’s clearly not trying to draw attention to the report’s contents. Sure enough, the “Seventh Quarterly Report” on the economic impact of the “stimulus,” released on Friday, July 1, provides further evidence that President Obama’s economic “stimulus” did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.

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.

Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html

HonestChieffan
07-04-2011, 09:13 AM
Historic failure is historic.

Since our Democrat friends celebrate April 15, it's only right Republicans celebrate the 4th of July. Happy 4th, party well, drive safe.

chiefforlife
07-04-2011, 09:19 AM
This belongs in the "Epic Fail" Thread.

Man that pisses me off.

RedNeckRaider
07-04-2011, 09:29 AM
Yet there are people that steadfastly defend this embarrassment~

mlyonsd
07-04-2011, 10:31 AM
The 24 karat shovels might have been a bad idea.

BucEyedPea
07-04-2011, 10:41 AM
Meanwhile, Jerry Falwell’s Liberty University is rolling in Federal Aid— $445 million in federal aid last year. Anti BIG govt my arse!

http://www.truthdig.com/eartotheground/item/jerry_falwells_school_took_millions_in_federal_cash_last_year_20110702/?ln

The Mad Crapper
07-04-2011, 11:03 AM
We're All National Socialists Now!

http://images.sodahead.com/polls/001231001/we_are_all_socialists_now_newsweek11_xlarge.jpeg