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Thread: LA Times: Obama stimulus spending: $246,436 per new job

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    LA Times: Obama stimulus spending: $246,436 per new job

    Obama stimulus spending: $246,436 per new job
    Andrew Malcolm
    December 8, 2009

    According to its own shovel-ready recovery numbers, the nearly 11-month-old Democratic administration claims to have created 640,329 good ol' American jobs so far this year by spending $157.8 billion of that stimulus money.

    Now, that works out to a cost of $246,436 per job created, according to figures dug up by the eagle-eyed James Pethokoukis over at Reuters.

    Total compensation earned by the average American payroll employee during the month of October was $59,867 on an annualized basis, Pethokoukis reports. That's only 24% of the nearly quarter-million dollars it costs the federal government to create that spot.

    Had Obama and Biden simply handed out to unemployed individuals $60,000 as a year's salary, they could have paid for 2.6 million jobs -- four times as many jobs that have been created. That's the kind of disastrous return on investment that could cost a banker his bonus.

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    This colossal waste of taxpayer money is a classic example of the inefficiency of the federal government, and the number 1 reason why we need to keep the government out of the health care industry.

    Do you people realize, that if the Obama administration would have taken that $157 billion, split it up, and simply given it to the 3 million people who have lost their jobs since Obama took office, that would have given each of them $52,600 a piece... That's an entire years wages.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by Grim17 View Post
    This colossal waste of taxpayer money is a classic example of the inefficiency of the federal government, and the number 1 reason why we need to keep the government out of the health care industry.

    Do you people realize, that if the Obama administration would have taken that $157 billion, split it up, and simply given it to the 3 million people who have lost their jobs since Obama took office, that would have given each of them $52,600 a piece... That's an entire years wages.

    .
    It's about time you stopped reading that whacky rag. Not all of the money has been received yet.
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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by niftydrifty View Post
    It's about time you stopped reading that whacky rag. Not all of the money has been received yet.

    So now the LA times is a "whacky rag"? Why, because it took time away from its usual adoration of BHO?

    Not all of the money is out there, why not? Waiting for 12% unemployment? or just the truth that was foretold when this joke of a bill was passed which was, it wasn't a stimulus at all, but a giant pork package, meant to get demo's re elected in 2010, and 2012.


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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Let's not forget that the jobs that are being "created" are temporary, like construction jobs. If it was careers, it wouldn't be so bad, but these are jobs that sometimes don't even last 2 years. Also, some of these jobs aren't even producing any wealth, like construction that isn't even necessary.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by phattonez View Post
    Let's not forget that the jobs that are being "created" are temporary, like construction jobs. If it was careers, it wouldn't be so bad, but these are jobs that sometimes don't even last 2 years. Also, some of these jobs aren't even producing any wealth, like construction that isn't even necessary.

    Some, aren't even lasting a week.


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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Government healthcare is expected to have a -3% impact on GDP, too.

    For reference, the drop we just took this past year was -3%. Oh, goody, maybe we can hit 20% unemployment and 2000 in the Dow.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by j-mac View Post
    So now the LA times is a "whacky rag"? Why, because it took time away from its usual adoration of BHO?
    LOL, why? because they print crap like this. I've been panning the LA Times for a while.

    Quote Originally Posted by j-mac View Post
    Not all of the money is out there, why not? Waiting for 12% unemployment? or just the truth that was foretold when this joke of a bill was passed which was, it wasn't a stimulus at all, but a giant pork package, meant to get demo's re elected in 2010, and 2012.
    No, because it isn't all out there yet. News flash: billions is a lot.

    If someone was honest, they figure using the amount received. $37 billion, last I heard. Then they'd also realize that the money is doing something else, too. Not just making jobs.

    Andrew Malcolm is the same "pundit" that complained about the national Christmas tree being turned on. He compared the approval rating of a sitting president to the approval rating of an author. He's been known to round poll numbers UP to make them sound worse.

    Pathetic.
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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by niftydrifty View Post

    No, because it isn't all out there yet. News flash: billions is a lot.
    True, it does take a long time to print a trillion dollars. Probably costs a lot, too.

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by Erod View Post
    True, it does take a long time to print a trillion dollars. Probably costs a lot, too.
    Hmmmm....
    I wonder how much they had to borrow to print that money?.....

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    Re: LA Times: Obama stimulus spending: $246,436 per new job

    Quote Originally Posted by niftydrifty View Post
    LOL, why? because they print crap like this. I've been panning the LA Times for a while.

    Wow, you libs are thin skinned.



    No, because it isn't all out there yet. News flash: billions is a lot.

    That has to be the most inane answer posted on these boards to date....Congrats!


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