Skip to comments.Obama's Jobs Spending Plan: $250,000 Per Job
Posted on 09/13/2011 8:49:52 AM PDT by SeekAndFind
Barack Obama's jobs plan may be one of the worst policy proposals I've ever seen.
As I pointed out last week, the plan to "pay for" the jobs proposal with tax hikes is just lunacy. It eliminates every bit of stimulus effect that could possibly come from additional government spending.
Over at Zero Hedge, John Poehling has run the numbers on the American Jobs Act (AJA).
Even if you take very optimistic figures, the jobs bill turns out to be unbelievably costly.
For those eager to put some math to the rhetoric coming from the White House over the president's jobs creation plan, and that should be everyone, here is a quick and dirty estimate based on the numbers being thrown around of a 2 percent GDP increase in year 1 and 1.9 million jobs created or saved...most saved, as in those you can't really quantify. Said otherwise, roughly a $300 billion increase in GDP yields 1.9 million jobs. So far so good.
Now since the president is proposing to pay for the program over 10 years, let's assume the $475 billion in direct expenses is financed for 10 years at 2.5 percent which adds roughly $120 billion to the total cost of the program. In other words, as the calculations detailed and show below elaborate, the overall AJA plan will cost $250,000 per job created (excluding the interest expense) and $312,500 per union job created (including interest). And that's how much it costs for Obama to purchase one vote...created or saved. Keynesian efficiency strikes like a Swiss watch yet again.
So that's $250,000 per job, before interest expense.
(Excerpt) Read more at cnbc.com ...
Hey, that’s a big improvement over the first stimulus! That one cost a lot more per job.
Good work, Barry!
The point of the half billion isn’t jobs. It’s to pay off unions for their support in the upcoming election. Just look how the money will be spent.
According to my calculation this jobs bill will cost nothing, because in ten years the dollar will be worthless.
in other words, we will take $3400 from every tax filer for this program, then charge them interest on top of that so that Public Employee Unions in every State will be solvent for 1 MORE YEAR.
No comment on the Spectrum board and the infrastructure bank and the associated board that it creates.
There is some pretty onerous regulations in there if one cared to look for it.
It’s just a back door approach to ramming through more of his failed policies. Obama audacity is boundless.
“pay for” the jobs proposal with tax hikes is just lunacy.
You companies hire more people so I can tax you more so I can spend more.
Obama logic at it’s finest.
They are already calling it an "Act" when it the toner isn't even dry on the pages yet and Congress isn't even in session?
Was just listening to Rush. It is an hour in and no Democrat filed the bill yet.
We won’t have to wait 10 years. And it’s all Bush’s fault anyway.
It started out innocently enough. I began to think at parties now and then - just to loosen up and be a part of the crowd.
Inevitably, though, one thought led to another and soon I was more than just a social thinker.
I began to think alone — “to relax,” I told myself — but I knew it wasn’t true. Thinking became more and more important to me, and finally I was thinking all the time.
That was when things began to sour at home. One evening I turned off the TV and asked my wife about the meaning of life. She spent that night at her
I began to think on the job. I knew that thinking and employment don’t mix, but I couldn’t help myself.
I began to avoid friends at lunchtime so I could read Thoreau, Muir, Confucius, Camus and Kafka. I would return to the office dizzied and confused, asking, “What is it exactly that we are doing here?”
One day the boss called me in. He said, “Listen, I like you, and it hurts me to say this, but your thinking has become a real problem. If you don’t stop thinking on the job, you’ll have to find another job.”
This gave me a lot to think about. I came home early after my conversation with the boss. “Honey,” I confessed, “I’ve been thinking...”
“I know you’ve been thinking,” she said, “and I want a divorce!” “But Honey, surely it’s not that serious.” “It is serious,” she said, her lower lip aquiver.
“You think as much as college professors and college professors don’t make
any money, so if you keep on thinking, we won’t have any money!”
“That’s a fallacious syllogism,” I said impatiently.
She exploded in tears of rage and frustration, but I was in no mood to deal with the emotional drama.
“I’m going to the library,” I snarled as I stomped out the door.
I headed for the library, in the mood for some John Locke. I roared into the parking lot with NPR on the radio and ran up to the big glass doors.
They didn’t open. The library was closed.
To this day, I believe that a Higher Power was looking out for me that night.
Leaning on the unfeeling glass and whimpering for Emerson, a poster caught
my eye, “Friend, is heavy thinking ruining your life?” it asked.
You probably recognize that line. It comes from the standard Thinkers Anonymous poster.
This is why I am what I am today: A recovering thinker.
I never miss a TA meeting. At each meeting we watch a non-educational video; last week it was “Porky’s.” Then we share experiences about how we avoided thinking since the last meeting.
I still have my job, and things are a lot better at home. Life just seemed easier, somehow, as soon as I stopped thinking. I think the road to recovery is nearly complete for me.
Today I took the final step. I joined the Democrat Party. And we are very excited that our TA Chapter is a serious contender for the prestigious National Non-Thinkers of The Year Award for pledging 100% membership votes for Obama in 2012! First prize is an overnight trip to Chicago. Second prize: A 5 day trip to Chicago. Third prize: Choice of two weeks in Chicago or the complete 2,300 hour CD set of President Obamas speeches (with free hourly updates) and one of his 368 worn-out Teleprompters complete with his autograph signed by his AUTOPEN machine as he was jetting around on Air Farce One that month.
There are many industries where it is not uncommon to invest at least $250,000 to create one job. This is why taxing high income earners is counterproductive because it is this class of earners who invest - the government is diverting investing funds to current spending.
RE: They are already calling it an “Act” when it the toner isn’t even dry on the pages yet and Congress isn’t even in session?
If anyone here knows how we can actually read the text of this bill, please inform us. I don’t know where it is and neither do some of the radio talk show hosts I listen to.
Lou Dobbs for instance is asking his listeners to call in and tell him when they read it.