Friday, October 16, 2009

$526,610 Per Job - And We Thought a $600 Hammer Was Bad!

Obama’s billions-of-stimulus-dollars-spending-of-your-money created or saved only 30,383 jobs

by Dan Spencer

October 15, 2009

The Recovery Accountability and Transparency Board, the government watchdog which oversees how the stimulus monies are spent reports contractors who received money from President Obama’s failed $787 billion stimulus program created or saved 30,383 jobs by the beginning of October.

According to the Wall Street Journal, this report covers only spending on infrastructure and social programs being carried out by private companies, which were awarded about $16 billion in stimulus funds. That amounts to $526,610 per job created or saved.

Obama’s Council of Economic Advisers claims the stimulus and “other policy actions caused employment in August to be slightly more than one million jobs higher than it otherwise would have been.”

I can’t wait to hear the CEA’s Obama-speak explanation as to how the contractors’ measly 30,383 jobs supports the council’s million plus estimate.

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