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$335,310 Per Job: The Cost of the Obama Stimulus in New Mexico
New Mexico ^ | May 28, 2012 | By Jim Scarantino

Posted on 05/30/2012 4:30:44 PM PDT by Oldeconomybuyer

The billions have been spent. The data has been released. How efficiently did President Obama’s controversial stimulus package create or retain jobs in New Mexico?

Based on the government’s own data, the Obama stimulus required $335,310 on average for each of the jobs it claims to have created or retained in New Mexico. This figure has been calculated directly from the records President Obama pledged would provide unprecedented transparency in accounting for how “every dime” of the stimulus would be spent.

(Excerpt) Read more at ...

TOPICS: Business/Economy; News/Current Events; Politics/Elections; US: New Mexico
KEYWORDS: failure; obamanomics; porkulus; socialism
1 posted on 05/30/2012 4:30:55 PM PDT by Oldeconomybuyer
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To: Oldeconomybuyer
Pretty disgraceful.

BTW. I love Jim Scarantino like a brother from a different mother.

2 posted on 05/30/2012 4:48:38 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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To: elkfersupper
Pretty disgraceful.

Actually, it's not bad -- compared to other government "job-creating ventures", where the costs have run $1-2 million per job created.

Nor is the NM number all that much above the rule-of-thumb figure for private industry -- where it takes $250K in invested capital to create a job.

Of course, one figure that isn't being included in the $335,310 figure is the government overhead required to distribute that kind of cash. I don't doubt that at least an equivalent number of dollars were spent on the bureaucracy required to initiate, coordinate, distribute and monitor the stimulus dollars.

So, the choice is clear.

1. Private industry can create a job with a capital investment of $250,000.

2. Or, you can confiscate the above $250,000 plus another 152,372 in taxes (a total of $402,372), then borrow an additional $267,938 from the ChiComms (the 40% of spending that we're currently borrowing), then trust the bureaucracy to spend the sum of $670,620 to create the same job. Which will cease to exist as soon as the government withdraws funding...

Oh, yeah. Government stimulus spending makes a lottttttt of sense. If you're Paul Krugman...

3 posted on 05/30/2012 5:04:31 PM PDT by okie01
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To: Oldeconomybuyer; LegendHasIt; Rogle; leapfrog0202; Santa Fe_Conservative; DesertDreamer; ...

NM list PING!

I may not PING for all New Mexico articles. To see New Mexico articles by topic click here: New Mexico Topics

To see NM articles by keyword, click here:New Mexico Keywords

To see the NM Message Page, click here: New Mexico Messages

(The NM list is available on my FR homepage for anyone to use. Let me know if you wish to be added or removed from the list.)

4 posted on 05/30/2012 5:06:52 PM PDT by CedarDave
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To: okie01

There shouldn’t be any government employees, except for maybe active-duty military.

5 posted on 05/30/2012 5:32:57 PM PDT by elkfersupper ( Member of the Original Defiant Class)
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