More from the most transparent Administration ever … Barack Obama does document dump on the Friday of a long holiday weekend. More Obamanomics, while you were sleeping and enjoying the 4th of July …
From the Weekly Standard comes the following that Obama did not want “We the People” to see … Obama releases quarterly report On his ill-fated stimulus bill that shows that each jobs cost taxpayers $278,000. What a shock that Obama would want to release this under the cloak of a holiday. As Weasel Zippers states, “loose lips sink wannabe dictatorships”.
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.
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.
As further emphasized by Doug Ross, “it turns out that the Obama administration could have written a $100,000 check to each person whose employment was allegedly saved by the “Stimulus” and saved $427 billion”. Thanks Barack Obama, your stimulus was a complete and utter failure and further added to the debt.