Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job

The Weekly Standard ^ | 3 July 2011 | Jeffrey Anderson

[Rummyfan]

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.

.....

Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.

[Nip]

BLUF - The “Stimulus” has been viewed as a onetime shot. Businesses need a stable environment for years before they are willing to start something new - business venture or hiring. Ergo sum - the “Stimulus” could be nothing but a failure from the get go.

[hal ogen]

So...the moron-in-chief could have GIVEN $30,000 cash to about 20 million families to tide them over instead of wasting the $278,000 per job “saved or created”? nobama is a pure genius, I tell you. Genius!

[Vaduz]

If he wanted to open up 10 million jobs he would start mass deportation.

[screaminsunshine]

End the Obama Occupation of the USA.

[ViLaLuz]

“If he wanted to open up 10 million jobs he would start mass deportation.”

Amen.

[Dick Bachert]

The nation screwed up in 08,
and now we must suffer the fate,
that Obozo has brought
‘cause too many have bought
his bullshit and now it’s too late.

[allmendream]

Gee, how much does it “cost” a private industry to create a job?

Why it doesn’t seem to “cost” them a thing - if they make money above and beyond the salary paid on the productivity of the worker.

Maybe this kind of cold hard math can disabuse the American electorate and many of our Representatives, that the role of the Government in a down economy is to “create jobs”.

I would rather they focused on creating an environment where private industries can create jobs - but they are busy as beavers tearing down those conditions required for a stable and productive economy.

[Nevadan]

I would love to see some stats on how much the stimulus money went to the public sector as contrasted with the private sector. Also, what percent went to unions and what percentage went to Democrats?

[Eva]

None of the money went to private sector jobs in companies that were not intricately connected to the DNC. It either went to unions, union jobs or through companies with close DNC ties, like GE, Goldman Sachs, BNSF and Warren Buffet.

Not only did it go to jobs for union members, “prevailing wages” were dictated. In other words,for the green energy auditors, and insulation jobs, and other green energy jobs, not only did the worker have to join the union, the state had to pay the same union wage in WA state that they paid in NY.

The Democrats in the Senate have the third stimulus bill ready to go, sitting in committees, waiting for a vote, the minute a decision is made on the debt ceiling. This time, instead of one big massive stimulus, they have it broken down into individual expenditures to pay for various infrastructure programs and farm bill changes. There’s something for everyone in these bills, everyone except fiscal conservatives, that is.

[Son House]

May. 6, 2011
http://www.indystar.com/article/20110506/NEWS/110506010/Obama-want-energy-breakthroughs-Indiana?odyssey=tab|topnews|text|IndyStar.com

“That means over the last 14 months,” Obama said, “we’ve added more than 2 million jobs in the private sector.”

[Son House]

2,000,000 X 278,000 = 5.56e11

which should be 556,000,000,000

feel free to correct that

and I don’t think all the stimulus bill money has been spent as of yet

[comps4spice]

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.

Most d*mning point in the article.

[Chgogal]

I remember when Merkel warned Obama about his disgusting, inappropriate, ill advised “stimulus” program.

Too bad we the people don't remember the brouhaha in March 2009.
http://www.financialexpress.com/news/merkel-spurns-obamas-stimulus-plea-keeps-cashbox-closed-as-she/435373/

Merkel won that battle. Obama, a German Girl who speaks Austrian beat you in economics. OBAMA IS EPIC FAIL.

http://online.wsj.com/article/SB10001424052702304259304576373281798293222.html?mod=googlenews_wsj

[Nevadan]

Thanks. No big surprise there. It is too bad that the American people don’t know this. Not holding my breath for the media to report it.