Obama's Stimulus Plan Will Cost $250,000 Per Job

UPDATE - Senate kills Obama jobs bill

--

I'd say $250k per job is a bargain compared with Obama's last stimulus:

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.

http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html

---

John Carney

CNBC

Barack Obama's jobs plan may be one of the worst policy proposals I've ever seen.  John Poehling has run the numbers on the American Jobs Act (AJA). Even if you take very optimistic figures, the jobs bill turns out to be unbelievably costly.

For those eager to put some math to the rhetoric coming from the White House over the president's jobs creation plan, and that should be everyone, here is a quick and dirty estimate based on the numbers being thrown around of a 2 percent GDP increase in year 1 and 1.9 million jobs created or saved...most saved, as in those you can't really quantify. Said otherwise, roughly a $300 billion increase in GDP yields 1.9 million jobs. So far so good.

Now since the president is proposing to pay for the program over 10 years, let's assume the $475 billion in direct expenses is financed for 10 years at 2.5 percent which adds roughly $120 billion to the total cost of the program. In other words, as the calculations detailed and show below elaborate, the overall AJA plan will cost $250,000 per job created (excluding the interest expense) and $312,500 per union job created (including interest). And that's how much it costs for Obama to purchase one vote...created or saved. Keynesian efficiency strikes like a Swiss watch yet again.

So that's $250,000 per job, before interest expense.  Wouldn't it be better just to have a free national lottery and mail $200,000 checks to a lucky 1.9 million people?

Update on Oct 12, 2011 at 3:22 PM by DailyBail

UPDATE - Senate kills Obama jobs bill

Comments

[spktruth200]

This is a total lie. The CBO hasnt looked at the numbers yet and yet you have posted this bullshit as if its true. Unbelieveable!

[DailyBail]

You're right...CBO will probably say it's even more expensive. The last stimulus worked out to around $280k per job.

http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html

[WebMost]

Quite believable. Of course we don't have any details, because, despite insisting "pass this bill" fifteen times in his speech, Obama presented no bill to pass. But look at it in simple terms: he claims this new spate of spending will knock unemployment down two points. 14 million are unemployed. That's one and a half million per point. That's three million for two points. Divided into 450 billion comes out 150 thousand per job. Given how ineffective his spending has been to date, it would be a very rosy outcome if his new batch of spending achieved half its aim.

It's time to stop blaming Bush, the Tea party, Congress, or carbon. Time to stop the delusion. Time to acknowledge this cat hasn't got a clue and doesn't know where to get one.

spktruth200, I challenge you to tell me this: How many jobs will robbing an already bankrupted social security create?

Give me a break. Chains you can believe in.

[ETM]

"As I pointed out last week, the plan to "pay for" the jobs proposal with tax hikes is just lunacy. It eliminates every bit of stimulus effect that could possibly come from additional government spending."

Why? I hear this repeated a lot and I have never seen good evidence that increasing taxes on the wealthy hurts jobs. Since the US is now experiencing record numbers of citizens in poverty (43 million) and record unemployment while enjoying very low taxes for the wealthy, I would argue the reverse is true.

[Jack Lohman]

Look, the truth is, if you get the cash bribes out of the system our politicians will appropriately adjust the system. That's why public funding of campaigns is so critical.

--
Jack Lohman
jelohman@gmail.com
http://MoneyedPoliticians.net
http://SinglePayer.info

>>> "America will always do the right thing, but only after everything else fails." Winston Churchill

[DailyBail]

Obama's Job Plan May Force US to Raise Debt Limit Again

http://www.cnbc.com/id/44494183

[Ben Doverhereitcomes]

We'll just have to pass it to see what's in it. Did anyone really expect a good plan out of this idiot?

[Howard T. Lewis III]

Obama is a crazy spouse with a credit card. And he has a taste for bling. And you are the breadwinner seeking divorce. But his mobster family will not allow it for another year. What do you do? He knows you spurn his love. He knows you won't be his slave. And, he has a taste for human blood.... How is that for creepy? Worse than grandma climbing up your leg with a knife clenched in her teeth?

Stay safe Dr. Paul. The CFR wants to push Hillary or Perry on us to solve 'the American problem. . And the public would vote for it. They would vote for anything just to prove social dominance.

[happenstance]

"We live in a time of guided missiles and misguided men!"

--- Dr. Martin Luther King

[DailyBail]

Senate Kills Obama's Jobs Bill, Fails to Get 60 Votes

http://www.ibtimes.com/articles/229350/20111011/the-u-s-senate-killed-obama-s-jobs-bill-it-failed-to-get-60-votes.htm

[john]

I am absolutely f-ing speechless.

http://www.areweawareyet.com/6401/another-solar-energy-scandal-1-2-billion-federal-loan-‘10-15′-permanent-jobs-and-a-new-facility-in-mexico/

[Jack Lohman]

This is just the “result” of corruption. As long as the Pols can keep us fighting between the Left and Right, they are tickled pink. It’s called payola. Politicians of both parties are as corrupt as the other, and voters of both parties are as dense as the other.

So we march on government. We fight for “issues” and fail to fight for “why the issues became issues” in the first place. Which is — 100% — because of corrupt politicians. Like the Mafia the politicians GIVE (taxpayer assets) where they GET (the most in campaign contributions).

So let’s recognize the worldwide rip-off as it is and do something about it!!! Like vote 100% of the jerks out of office. ONLY public funding of campaigns will reverse the corruption, and at $5 per taxpayer per year it would be a bargain.

Jack Lohman
http://MoneyedPoliticians.net

[Ain't Bullshittin']

Enough with this IDIOT..........AB

[Howard T. Lewis III]

Yay Jack Lohman.

This jobs bill was idiocy. The banksters have been ripping off massive profit which could have been used to foster new ideas and research. Not just feed the pigs. Raise taxes of those who voted for the wars and bring the troops home. Dump the fed and remember that the person standing next to you is a lazy bum who must be taught by example. A bunch of Wall Street blindsiders call themselves alpha-male predators while they sneak around behind the police and rob us all blind, including the police, who can't read. Obama is a mobster lapdog with no gut feeling of his own about anything. He obeys and recites his handlers because he cannot muster the sense that he should. The money in circulation is getting less and less. I have not heard a hammer fall or a saw get switched on in two weeks. I have heard someone working on a new home or doing improvements in town for 18 yers straight. This will be VERY BAD if we do not gain control of the money supply and defend against our enemies, and they have shown themselves. Slam-duink from here.