How Much Should A Job Cost?
By Greg Hunter
Since the State of the Union Address, the White House has turned its attention to jobs. President Obama said last week, “…jobs must be our focus in 2010, and that is why I am calling for a new jobs bill.” A $100 billion jobs bill has already passed the House of Representatives. The Obama Administration is now pressing the Senate to get a bill on his desk in short order. It will likely end up being a combination of spending and some tax incentives.
After the $787 billion stimulus that was appropriated last year by Congress, $100 billion seems paltry. My question is how much will it cost to save or create jobs? In the State of the Union Address, the President said, “Because of the steps we took, there are about 2 million Americans working right now who would otherwise be unemployed.” So, taxpayers spent $787 billion to create or save 2 million jobs; that works out to be to be about $393,000 per job so far.
Back in October, the Associated Press claimed, “The government has overstated by thousands the number of jobs it has created or saved with federal contracts under the president’s $787 billion recovery program…” The AP report also said, “The review found some counts were more than 10 times as high as the actual number of jobs…” But, let’s just take the President at his word and say 2 million jobs were saved or created.
The President also contends that, “We’re on track to add another million and a half jobs to this total by the end of the year.” That gives you a grand total of 3.5 million jobs saved or created by the $787 billion stimulus plan. That works out to be nearly $225,000 spent to create or save each and every job!
On what planet is this a good deal for taxpayers? There is no way there is not huge fraud, waste, and abuse in a number like that. I said this before in a post called “Is The American Empire Being Looted?” Wasteful spending is just another way to rob America.
Now, we are continuing the boondoggle with a new jobs program that is being pushed through the Senate. Maybe we can get the cost per job down a little before the country goes bankrupt!