Howdy, This Here is the BS-Ranch, The Ranch looks after a small amount of land located in the Inland Empire, but we also take notice to Things that are going on in the Owens Valley. We Welcome to the Ranch Pasture, Barns, and Corrals! But, if your not minding your feet you will have a Smelly Mess to clean off your boots when you leave.. Have a good time I hope you enjoy Da' BS.Ranch!
Monday, July 04, 2011
Obama's Economists Admit Stimulas Has Cost $278,000.00 Per Job
Obama's Economists Admit 'Stimulus' Has Cost $278,000 per Job
July 4, 2011
When the Obama administration releases a report on the Friday before a long weekend, it's clearly not trying to draw attention to the report's contents. Sure enough, the "Seventh Quarterly Report" on the economic impact of the "stimulus," released on Friday, July 1, provides further evidence that President Obama's economic "stimulus" did very little, if anything, to stimulate the economy, and a whole lot to stimulate the debt.
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.