Obama’s Economists: Stimulus Created Job cost $278,000 Each

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.

Such is the case with the White House Council of Economic Advisors’ seventh quarterly report on the impact of the “stimulus”:

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.

via Michelle Malkin » Obama’s Economists: Each Job ‘Saved or Created’ by the Stimulus Cost $278,000 (So Far).

About Albert N. Milliron 6991 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

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