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

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

    Subheading: The stimulus is now causing the economy to shed jobs.

    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.

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

    The Weekly Standard? I can't think of a reaosn why I would question anything there.

    And yes, if the government controlled the economy, they would be doing the hiring. They don't. So, they spent money to keep people working, for a short time, hoping that the forces that do control the economy would kick in. For those who kept their jobs, I suspect they are grateful. For Walstreet? Banks? The auto industry? Which party wouldn't have helped them? Let me know.

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

    Assuming that figure is correct, it's a great argument for public work programs. If they paid 50k a year, you could create more than 5 public sector jobs for each one created by the stimulus.
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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Boo Radley View Post
    The Weekly Standard? I can't think of a reaosn why I would question anything there.
    Start out with attacking the messenger.....nice work.

    http://www.whitehouse.gov/sites/defa...rra_report.pdf....will straight from the Kenyan horse's mouth suffice?

    And yes, if the government controlled the economy, they would be doing the hiring. They don't.
    .....and at a taxpayer's cost of almost $300,000.00 per job......thank gawd the lsd enduced belief in Keynesian economics is coming to an end.

    So, they spent money to keep people working, for a short time, hoping that the forces that do control the economy would kick in.
    So Obama's PORKULUS wasnt so much about creating jobs or stimulating the economy, as it was about postponing the unemployment of a bunch of liberal parasites.

    For those who kept their jobs, I suspect they are grateful. For Walstreet? Banks? The auto industry? Which party wouldn't have helped them? Let me know.
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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by atrasicarius View Post
    Assuming that figure is correct, it's a great argument for public work programs. If they paid 50k a year, you could create more than 5 public sector jobs for each one created by the stimulus.
    But you couldn't pay for them and most of them would only replace the job of someone who is paying their own way.

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

    Quote Originally Posted by atrasicarius View Post
    Assuming that figure is correct, it's a great argument for public work programs. If they paid 50k a year, you could create more than 5 public sector jobs for each one created by the stimulus.
    Yeah if your making that argument after a Jack Daniels convention....... perhaps..........

    ....in the Real and Sober world however......this illustrates what a COMPLETE WASTE public work programs are. If government is paying them 50K a year.....its costing taxpayers $300,000.00 a year.

    From the $600 dollar toilet seat of a government.....with a Kenyan Tyrant who never ran so much as a lemonade stand, much less a candy store, why would you expect anything different.
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    Re: Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

    Quote Originally Posted by Boo Radley View Post
    The Weekly Standard? I can't think of a reaosn why I would question anything there.
    I normally seek sources that appease the Socialist Peanut Gallery (CBS, NBC, NYT, MSNBC, CNN, ABC, Slate, HuffPo, etc.) as to eliminate but it seems they haven't been too interested in this story or what it means in horrendous waste. I can understand the man the journ-O-lists propagandized for heavily in 07-08 are doing their best to sweep his endless doo-doo's under the carpet, but it seems they are having a hard time.

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

    the above should say "(CBS, NBC, NYT, MSNBC, CNN, ABC, Slate, HuffPo, etc.) as to eliminate such reactions,..."


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

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

    Quote Originally Posted by zimmer View Post
    I normally seek sources that appease the Socialist Peanut Gallery (CBS, NBC, NYT, MSNBC, CNN, ABC, Slate, HuffPo, etc.) as to eliminate but it seems they haven't been too interested in this story or what it means in horrendous waste. I can understand the man the journ-O-lists propagandized for heavily in 07-08 are doing their best to sweep his endless doo-doo's under the carpet, but it seems they are having a hard time.

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    I merely find it funny that those who whine so much about biased media go so much out of their way to seek biased reporting. Which supports what I suspect, that you just want news to affirm what you believe.

    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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