White House: Two million jobs 'saved or created' by stimulus -- only $128K per job! 

Unemployment went up again last month, but the Obama administration but the good news is that the Obama administration has a sweet deal on a bridge they'd like to sell you. The stimulus act has 'saved or created' two million jobs:

"The most important bottom line is to say that close to 2 million jobs have been created or saved by the close of 2009, a truly stunning . . . effect of the act," [Christina Romer, chairman of the White House chairman of the Council of Economic Advisers] said. Still, she added, there is a need for additional spending to spur job creation, as President Obama has called for.

Most mainstream news outlets have scoffed at the dubious nature of the White House's job metrics, which is probably a major reason the White House recently abandoned the 'saved or created' stats, albeit in favor of an even more misleading way of counting stimulus jobs. Perhaps they figure it will take the press a while to catch on to this, but I doubt it.

However, what's astounding about about this White House claim is that even if you accept their number that two million jobs were saved or created, that works out to two million jobs for $257 billion in stimulus funds that have been paid out so far, according to Recovery.gov. That's $128,500 in taxpayer funds for every job the government is taking credit for -- and we all know the jobs number is worthless to begin with. That seems to be an outrageously inefficient waste of tax dollars, but this is the stimulus bill we're talking about, so what else is new?

 

MW Hemingway

 to examineropinion
show details 12:49 PM (9 minutes ago)  

Unemployment went up again last month, but the Obama administration but the good news is that the Obama administration has a sweet deal on a bridge they'd like to sell you. The stimulus act has 'saved or created' two million jobs:

"The most important bottom line is to say that close to 2 million jobs have been created or saved by the close of 2009, a truly stunning . . . effect of the act," [Christina Romer, chairman of the White House chairman of the Council of Economic Advisers] said. Still, she added, there is a need for additional spending to spur job creation, as President Obama has called for.

Most mainstream news outlets have scoffed at the dubious nature of the White House's job metrics, which is probably a major reason the White House recently abandoned the 'saved or created' stats, albeit in favor of an even more misleading way of counting stimulus jobs. Perhaps they figure it will take the press a while to catch on to this, but I doubt it.

However, what's astounding about about this White House claim is that even if you accept their number that two million jobs were saved or created, that works out to two million jobs for $257 billion in stimulus funds that have been paid out so far, according to Recovery.gov. That's $128,500 in taxpayer funds for every job the government is taking credit for -- and we all know the jobs number is worthless to begin with. That seems to be an outrageously inefficient waste of tax dollars, but this is the stimulus bill we're talking about, so what else is new?

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