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Thread: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Badmutha View Post
    $278,000 per job..........

    ......not enough to get a peep of outrage from the Left......some of them still sing their PORKULUS praises to boot.....

    $500,000 per job....?

    $1,000,000 per job....?

    $ One Billion dollars.....per job......?

    ....I wonder what amount it would take for Democrats to show just a little outrage......maybe question their political beliefs in the complete lie and utter fraud that is Liberalism.
    .
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    Simple question, how much is a job worth? All games aside, what number would you accept?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Gill View Post
    I never said they would. You are battling a straw man.

    The topic of this thread is the absurd cost of the STIMULUS PACKAGE passed by Obama and the Dems in Congress.

    If you wish to discuss the topic of the thread, go ahead and I'll respond. I will not respond any longer to your lame attempts to bait people into off-topic discussions. .
    Again, address the point you jumped in on. Discussions are fluid, they move, and if you are paying attention, it is not unreasonable to expect you to address the point and not your pretend point.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Ockham View Post
    So you have no rebuttal other than "it's stupid". How can anyone argue with that?
    ...Liz Ozhorn, a White House spokesman for the stimulus bill, said that the Weekly Standard report “is based on partial information and false analysis. The Recovery Act was more than a measure to create and save jobs; it was also an investment in American infrastructure, education and industries that are critical to America’s long-term success and an investment in the economic future of America’s working families. Thanks to the Recovery Act, 110 million working families received a tax cut through the Making Work Pay tax credit, over 110,000 small businesses received critical access to capital through $27 billion in small business loans and more than 75,000 projects were started nationwide to improve our infrastructure, jump-start emerging industries and spur local economic development. The nonpartisan CBO has confirmed that the Recovery Act delivered as promised, lowering the unemployment rate by as much as 2 percent, boosting GDP by as much as 4 percent and creating and saving as many as 3.6 million jobs."

    $278K per Stimulus Job? White House Says No. - Political Punch


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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Deuce View Post
    Psst. Operating a particular employee costs more than just their salary.

    One could say it costs a $100 million to employ two airline pilots, right? They need a plane. You might pay a construction worker a decent salary but you also need to purchase supplies and equipment for him to do his job. The money going to purchase those supplies and equipment doesn't evaporate, there's a ripple effect. Purchasing the $100 million aircraft creates lots of jobs in our airline pilot scenario.
    Not to mention that the money that the employees spend directly create jobs. I did point this out earlier in a similar thread and none the opposing side took a bite. If we account for those, including the relevant state income, sales and federal taxes upon such income and subsequent spending, the cost per job created/saved goes down quite considerably. The problem is computing this is kind of a lot of work and economists like every other human are lazy. The only way Weekly Standard's numbers hold up if no one taxed those jobs and the people in those saved jobs spent no money and put it under the bed away from the financial sector.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    When are Liberals going to learn that their Messiah is a Pariah to the economy.

    $278,000 per job fits right into Obamas usual idiocy like the $28,000 plus it cost foe each of the Toyotas sold during Caah for Clunkers.

    Turns out the CLUNKER is Obama.

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by pbrauer View Post
    Holy cow who made this asinine calculation, some kid from grammar school? Where are supplies and material factored in. Also, the value of the output.
    I'm far more interested in the indirect job creation/saving.

    The idiotic assumption underlying Zimmer's stupid argument is that those who had jobs created/saved incurred no taxes and spent no money. Now, I don't know where he's from, but people I know spend money merely to eat and house themselves, both often incur taxes in some form. Therefore, the base assumption which ends at the saved job itself is rather idiotic as it ignores basic human behavior.

    We know for a fact that when Defense industries get huge contracts, they pick up additional employees and increase raw material orders. Those new employees then spend money as normal folk do. The indirect impact of that spending either preserves jobs or creates new ones. This is basic concept of economic multipliers.

    What is super amusing is that Zimmer's argument effectively says multipliers don't exist. While people like him argue that tax cuts expand the economy because people have more money to spend, thus creating layers of new activity. He's basically denying multipliers exists while in other threads promoting them as why tax cuts work.

    Finding people who are internally consistent is becoming quite difficult.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Councilman View Post
    When are Liberals going to learn that their Messiah is a Pariah to the economy.

    $278,000 per job fits right into Obamas usual idiocy like the $28,000 plus it cost foe each of the Toyotas sold during Caah for Clunkers.

    Turns out the CLUNKER is Obama.

    You don't know what pariah means, do you?
    For: legalizing drugs, gay marriage, abortion, guns, universal health care, public sector jobs, nuclear power, free education, progressive taxation
    Against: corporations, make-work, the 40 hour work week, intellectual property, imperialism, "homeland security," censorship

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    At least he created jobs.... The last GOP President lost the most job since the depression....
    PeteEU

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by PeteEU View Post
    At least he created jobs.... The last GOP President lost the most job since the depression....
    Don't forget that under Clinton the Congress was mostly republican, while under Bush the Congress was mostly Democratic. Secondly, it has kept dropping under Obama's policies who were supposed to regain job growth. The stimulus could have been done much more efficiently.

    Also, it's not true, because the number of employed increased slightly under Bush, but has declined under Obama. But the performance of job creation during 2000 - 2011 have been miserable. What we care more about is participation rate, which has declined since 2000.

    Last edited by Camlon; 07-08-11 at 06:54 AM.

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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    I'm still amazed so many think government is the answer. Only government will fix the economy and create jobs.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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