Friday, October 30, 2009
$230,769.23 per job
The White House is set to release a report claiming that the first $150,000,000,000 spent in "stimulus" money resulted in the creation or retention of 650,000 jobs. How you quantify jobs that were not lost is something of an inexact science, but lets go with it. If these numbers are true, and that is highly dubious, that means that the U.S. government spent $230,769.23 for every job created/retained. That is supposed to be good news. Ultimately the economic wizards in the Obama administration expect to create or save one million jobs from the "stimulus package". If that happens, that will equate to one million jobs at a cost of $700 billion, or approximately $700,000 for every job created with artificial spending. The problem is two-fold. First, that is awfully expensive per job and second it seems likely that many of these jobs are entirely artificial and dependent on government deficit spending and at that price tag these jobs are unsustainable. These is Obamanomics and it will bankrupt this country left unchecked. Thankfully it seems that in spite of the cover given the administration from most of the media, the American people are catching on. Let us just hope it is not too late.