Why do the American people squabble over paying higher taxes? Would you pay 278 thousand dollars for a Job that makes 40-60 Thousand? You would go broke in short order. The Government is going broke by doing exactly that. Paying premium price for something that could have been gotten for whole sale prices.
Editors Note: I often buy radio equipment for my Ham shack at Government sales. I am amazed (not surprised) that equipment I buy for several hundred dollars cost the government tens of thousands of dollars. The reason for this is something the President if Fighting top protect. Labor wages. Interestingly the city of Oakland has outsourced a bridge (yes a Bridge) to get around paying labor wages. The cost difference just about half a billion dollars. The other is no bid contracts.
As Jeffrey Anderson at the Weekly Standard pointed out, the White House releasing a fiscal report on the Friday before a long holiday weekend can only mean one thing: There’s not much good news in it for the White House, and, ergo, taxpayers.
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.
Mind you these are Obama’s own economists, so the report is like an employee’s performance evaluation that was filled out by the employee. The absolute truth is probably much more bleak.
Over ten years, the CBO says the stimulus will raise the federal deficit $830 billion — $43 billion more than originally estimated.