Tuesday, July 5, 2011

Obama's Stimulus Plan Has Cost $278,000 per job!

"I really thought it would work. Honest, I did"
Washington DC, Jul 5, 2011. Last Friday the President's own Council of Economic Advisors  released their “Seventh Quarterly Report” on the economic impact of the the Presidnet's stimulus plan.

Their report provided further evidence that President Barack Hussein Obama’s, D-Kenya, economic stimulus did very little, if anything, to stimulate the economy.

However, it did accomplish a whole lot to stimulate the national debt.

The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by President 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.

There were no "shovel ready jobs"

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.

Now remember, this is counting all those mysterious "jobs saved" too. No one understands how the President justifies this statistic. Some say he just pulls it out of thin air.

But even if we could all those mythical "jobs were saved" then each one of them cost us $278,000.

Again, this is the verdict of Obama’s own Council of Economic Advisors, which is about as much of a home-field ruling as anyone could ever ask for.

In reality, it’s very possible that by borrowing an amount greater than the entire federal budget was a few years ago, and then spending it mostly on Democrati Party pet projects rather than in a manner genuinely designed to stimulate the economy, Obama’s “stimulus” has actually undermined the economy’s recovery, while leaving us $666 billion deeper in debt. And the debt keeps mounting higher each day!

"I''ll try harder in my next term"
The actual employment numbers from the administration’s own Bureau of Labor Statistics show that the unemployment rate was 7.3 percent when the “stimulus” was being debated.

It has since risen to 9.1 percent. Meanwhile, the national debt at the end of 2008, when Obama was poised to take office, was $9.986 trillion. It’s now $14.467 trillion, and counting.

All sides agree on these incriminating numbers — and now they also appear to agree on this important point: The economy would now be generating job growth at a faster rate if the Democrats hadn’t passed their stimulus plan.

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