HonestChieffan
05-30-2012, 09:04 AM
The Congressional Budget Office in a new report:
Any confusion over why Obamas team is on full deflection its things like this. His record as it is focused on by Romney will be an anchor that Obama cannot get free from. Whats more, as they try to spin and respin, the facts keep making them look worse and more desperate.
http://blog.american.com/2012/05/cbo-obama-stimulus-may-have-cost-as-much-as-4-1-million-a-job/
When [the American Recovery and Reinvestment Act] was being considered, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation estimated that it would increase budget deficits by $787 billion between fiscal years 2009 and 2019. CBO now estimates that the total impact over the 2009–2019 period will amount to about $831 billion. [...]
– They increased the number of people employed by between 0.2 million and 1.5 million,
– They increased the number of full-time-equivalent jobs by 0.3 million to 1.9 million. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)
OK, so without the stimulus, there would be anywhere from 200,000 to 1.5 million fewer people employed right now? That means the current cost-per-job created is somewhere between $4.1 million and $540,000.
Any confusion over why Obamas team is on full deflection its things like this. His record as it is focused on by Romney will be an anchor that Obama cannot get free from. Whats more, as they try to spin and respin, the facts keep making them look worse and more desperate.
http://blog.american.com/2012/05/cbo-obama-stimulus-may-have-cost-as-much-as-4-1-million-a-job/
When [the American Recovery and Reinvestment Act] was being considered, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation estimated that it would increase budget deficits by $787 billion between fiscal years 2009 and 2019. CBO now estimates that the total impact over the 2009–2019 period will amount to about $831 billion. [...]
– They increased the number of people employed by between 0.2 million and 1.5 million,
– They increased the number of full-time-equivalent jobs by 0.3 million to 1.9 million. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)
OK, so without the stimulus, there would be anywhere from 200,000 to 1.5 million fewer people employed right now? That means the current cost-per-job created is somewhere between $4.1 million and $540,000.