A new study by the non-partisan Congressional Budge Office revealed that the Obama Stimulus may have cost as much as $4.1 million per job.
What a deal!
The American reported:

The Congressional Budget Office in a new report:

When [the American Recovery and Reinvestment Act] was being considered, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation estimated that it would increase budget deficits by $787 billion between fiscal years 2009 and 2019. CBO now estimates that the total impact over the 2009–2019 period will amount to about $831 billion.

By CBO’s estimate, close to half of that impact occurred in fiscal year 2010, and more than 90 percent of ARRA’s budgetary impact was realized by the end of March 2012. CBO has estimated the law’s impact on employment and economic output using evidence about the effects of previous similar policies and drawing on various mathematical models that represent the workings of the economy. …

On that basis CBO estimates that ARRA’s policies had the following effects in the first quarter of calendar year 2012 compared with what would have occurred otherwise:

– They raised real (inflation-adjusted) gross domestic product (GDP) by between 0.1 percent and 1.0 percent,

– They lowered the unemployment rate by between 0.1 percentage points and 0.8 percentage points,

– They increased the number of people employed by between 0.2 million and 1.5 million,

– They increased the number of full-time-equivalent jobs by 0.3 million to 1.9 million. (Increases in FTE jobs include shifts from part-time to full-time work or overtime and are thus generally larger than increases in the number of employed workers.)

OK, so without the stimulus, there would be anywhere from 200,000 to 1.5 million fewer people employed right now? That means the current cost-per-job created is somewhere between $4.1 million and $540,000.

 

 

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  1. It is called Obamanonics and is funny new age math based on affirmative action and crony capitalism. .

    Throw the bums out come November

    Operation Deep Flush – – –
    pull the correct lever to flush our nation’s capitol of these leftist, statist elitists!!

  2. Pffft.
    I could have easily created those jobs for $3 million each.

  3. If I am correct, the cbo can only evaluate a policy with the financial data they have been given. Or been spoonfed.

    The lefties will claim, “see, it would’ve been MUCH worse without profligate spending.”

    I question the comprehensiveness of the data. Garbage in, garbage out……a fitting epitaph for this administration.

  4. It wasn’t designed to create jobs.

  5. A more accurate framing would be that the stimulus cost $4.1 million per Obama campaign bundler.





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