Despite White House Protests, Stimulus Still Cost Taxpayers $278,000 Per Job
Why does the White House have a problem with basic math?
10:26 AM, Jul 6, 2011 • By JEFFREY H. ANDERSON
Largely contradicting its own claims about the stimulus’s long-term focus, the White House also says that “the temporary nature of the stimulus bill meant that its impact would diminish over time, when the private sector began hiring again.” But that’s just the point: Obama’s own economists show that the “stimulus” hasn’t stimulated the private sector to begin hiring again. Instead, the private sector would be doing more hiring now if the “stimulus” had never been passed.
Fourth, the White House says that because I used the whole cost of the stimulus to date — $666 billion — in my calculations, while the stimulus was not just “a measure to create and save jobs” but also to “improve our infrastructure” by spending money on “construction materials, new factories, and such,” my “math is flawed.”
Leaving aside the question of how it’s possible to spend billions on “construction materials, new factories, and such” and not create any jobs in the process, the White House is certainly free to maintain that it hasn’t spent all of the “stimulus” money in a manner designed to create or save jobs. But that’s an indictment in itself.
This much is clear: Based on an estimate by Obama’s own economists, for every $278,000 in taxpayer-funded “stimulus” money that the Obama administration has spent — whatever it may have spent it on — the “stimulus” has added or saved just one job. Moreover — and again according to Obama’s own economists — the “stimulus” is no longer adding or saving jobs, but instead is causing job growth to be more sluggish than it otherwise would be.
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