Skip to comments.$335,310 Per Job: The Cost of the Obama Stimulus in New Mexico
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 Obamas controversial stimulus package create or retain jobs in New Mexico?
Based on the governments 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 newmexico.watchdog.org ...
BTW. I love Jim Scarantino like a brother from a different mother.
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...
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There shouldn’t be any government employees, except for maybe active-duty military.