Our debt hit 15 trillion the other day.. 15 trillion..
What a waste of money
Of course, if one reviews the whole CBO report it does say
The
Congressional Budget Office on Tuesday downgraded its estimate of the benefits of President Obamas 2009 stimulus package, saying it may have sustained as few as 700,000 jobs at its peak last year and that over the long run it will actually be a net drag on the economy.
CBO said that while the Recovery Act boosted the economy in the short run, t
he extra debt that the stimulus piled up crowds out private investment and will reduce output slightly in the long run by between 0 and 0.2 percent after 2016.
The agency also has changed its model for the spendings impact on the economy, and the new calculations
show the Recovery Act did less than originally projected.
What a surprise
another failed Papa Obama pet project that did not live up to expectations
$250,000 per job created (excluding the interest expense) and $312,500 per union job, er job created
(so that's how much it cost to purchase votes today)
What a bargain - what fine example of "Keynesian efficiency"
What is the avg wage in the US around $42,000 ?, probably a little more than you make ...
I can see it now- the new liberal cry!
Give us 5 times the cost of the avg job and we can make 1
To be fair, it is better than his "green job" cost
With $17.2 billion spent on these programs, the cost per actual job created, so far 3545 jobs, comes to $4.853 million per job
(not counting the interest)
Notice Even with Papa Obamas initial false promise of 65,000 jobs created that would still come to $593,846 per job
Really, only left wing apologists for Papa Obama could take this as a positive