So you call the stimulus a success? Slightly liberal? LOL
September 23, 2010
The Failure of Obama's Stimulus
By Steve Chapman
No one spends money like the federal government. This year alone, it will shovel out $3.7 trillion, which works out to $7 million a minute. So it may surprise you to find out the clearest lesson from the Obama administration's fiscal stimulus program: The government is not very good at spending money.
12:07 PM, Jul 3, 2011 - The stimulus is now causing the economy to shed jobs. 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...