The Obama administration has announced 640,000 jobs were “created or saved” with its $787 billion stimulus package. That’s a whopping $1.2 million per job.
There we have it. I am now guilty of what the White House has termed “calculator abuse.”
In fact, only a measly $159 billion of the stimulus has been spent so far. That brings it down to $240,000 a job. I wouldn’t be bragging about that either.
Of course, the government doesn’t “create or save” jobs. It takes money from more productive jobs and then subsidizes less productive ones. Money is taken from one place and given to another. There is no net gain.
Since Obama swore not to raise taxes, his administration just prints up treasury bills and sells them to the Chinese. It’s a nice trick.
North Side Sun