Tuesday, July 5, 2011

i hate being right

this is something i've noted before... but first:

Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job | The Weekly Standard
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.

wait... let me gloat for a moment... let me bask in the sun of "Being Right"...

damn... doesn't feel as good as i thought it would.

the problem is evident in the basic arithmetic of the bailout... my Ramblings post from October 8, 2010, looked at the simple numbers... and i quote:

is anyone doing the math on this?... they have awarded $218 BILLION and made 750 THOUSAND jobs... that is the US Government, your tax dollars, paying $290,924.15 PER PERSON to create or save their job... has this not sunk into your heads yet?... they are actually saying, even admitting, that they are paying an average of a QUARTER MILLION DOLLARS to create a single job... and the government, our government, is okay with this!

and the worst part is not THAT it happened... but the EXTENT to which it happened... when i posted back in October, it was $218 billion... this has ballooned to $666 billion... and we keep letting them write checks!!!

if this were a business, the CEO and CFO would be terminated and possibly sued for their negligence and incompetence... but this is government... they'll just run for re-election.

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