Each Job ‘Saved or Created’ by the Stimulus Cost $278,000 (So Far)

[andymays]

http://michellemalkin.com/2011/07/03/stimulus/

Excerpt:

Mind you these are Obama’s own economists, so the report is like an employee’s performance evaluation that was filled out by the employee. The absolute truth is probably much more bleak.

Over ten years, the CBO says the stimulus will raise the federal deficit $830 billion — $43 billion more than originally estimated.

[mostpost]

http://michellemalkin.com/2011/07/03/stimulus/

Excerpt:

Mind you these are Obama’s own economists, so the report is like an employee’s performance evaluation that was filled out by the employee. The absolute truth is probably much more bleak.

Over ten years, the CBO says the stimulus will raise the federal deficit $830 billion — $43 billion more than originally estimated.
Let's assume that the $666B figure is correct.
$288B of that was tax cuts or credits. Tax cuts and credits do not create jobs, no matter what you think. That leaves $388B.
$155B went to health care. Mostly to medicare and medicaid. That leaves $223B
$100B went to education. Of that 53B was to prevent layoffs and modernize facilities leaving 47$B
223 minus 47 leaves $176M
$40B for unemployment
$20B for food stamps
$14B for a one time $250 payment to seniors.
Miscellaneous $20B (est.)
Leaves 82 Billion actually used to create jobs.

Meaning each job cost $34,167.

Now you may think my math and logic are goofy, but they are no more goofy than using the total coat of the stimulus to evaluate the cost of jobs, when much of the stimulus was not intended to create jobs, it was intended to help people past the rough spots in the economy.

The Malkin column also fails to appreciate that the value of the jobs is much more than the annual salary. It fails to note that every job gained is an unemployed person lost. It also failed to note that much of the slowness of the recovery is caused by banks refusing to lend money to businesses which are ready to resume hiring.

[Tom]

So you think 34,000 per McDonalds job is a good deal, huh?
You want fries wit dat?

[Greyfox]

Yeah, he sure stimulated NASA.

Thousands have been let go. More this Friday when after the last launch
1000's expect to be out of work.



http://blog.chron.com/finalmission/2011/06/behind-the-scenes-of-launch-preparations-massive-job-losses/



Today NASA is down to 5,500 contractor employees and 1,200 civil servants working on the shuttle, said program manager John Shannon. That’s a total of 6,700 people who process the shuttle and support it during flight.
http://blog.chron.com/finalmission/files/2011/06/315569main_shannontalks_full-600x453.jpg (http://blog.chron.com/finalmission/files/2011/06/315569main_shannontalks_full.jpg) John Shannon talks about STS-119. (NASA)


If the shuttle launches July 8, as expected, another big layoff will come on July 22. At that time NASA will lay off about 3,200 contractors, Shannon said.

“It’s tough to break up a team that has performed so well, for so long,” he said.

The shuttle program will officially end 30 days after Atlantis’ wheels stop on Kennedy Space Center’s runway.

By later this summer the number of contractors will fall to about 1,000 people to dispose of the program’s assets and prepare the shuttle’s for public display. In museums other than those in Houston (http://blog.chron.com/sciguy/2011/04/houston-weve-had-a-problem-space-city-snubbed-in-bid-for-retired-space-shuttle/).