Stimulus Jobs Cost $278,000 Apiece

by Dave Blount | July 5, 2011 1:18 pm

Jobs are not created by government, but by the absence of government. Bureaucrats can only fabricate temporary and economically illogical positions by sucking money out of the economy that would have been used to create more numerous, permanent, and useful jobs. For example, the primary pretext for Obama’s budget-busting Porkulus spree was the easing of unemployment. Sure it created jobs — at $278,000 apiece[1]:

[T]he “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.

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.

That’s according to Obama’s advisors. No doubt the actual numbers are far worse.

Any job created by the government is paid for not only by adding to the debt, but by destroying more productive jobs that the free market would produce in the private sector.

[T]he 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.

If you have grandkids, ask them if they think they got their money’s worth. They will spend their entire lives paying for the Worst Generation’s grotesque self-indulgence in electing Barack Hussein Obama president.

On tips from G. Fox, J, Wilberforce, and Curtis. Cross-posted at Moonbattery[2].

  1. $278,000 apiece:
  2. Moonbattery:

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