‘A Fistful of Dollars’

The President’s own report on the Stimulus was released this past Friday. Flags go up in my mind whenever the government releases information on the Friday before a holiday weekend. Well, you can go wade thru the quarterly report of the Executive Office of the President Council of Economic Advisers or you can read my summary. Remember these are not Republican figures but actual amounts reported by the President’s own people.

The report claims that 2.4 million jobs, private and public, have been saved or created by the Stimulus. The cost for these jobs to date has been $666 billion. Simple math shows that each job saved or created cost $277,500 per job. More simple math shows that if the government had just cut checks to each of these mythical 2.4 million people for $100,000 each, we could have saved $426 billion to date.

I’m not even going to get into that “jobs saved” thing or the fact that the great majority of the jobs both created and saved were in the public sector. This is the same group of people that is taking over the running of our healthcare system.

The incompetence continues.


  1. The Federal Goverment needs a model to go by for the entire country. If they had a model when they tackled the healthcare issue, we would not have 2700 pages of gobbly gook.

    That model should be accomplished in Wisconsin from which the nation has been made aware of the changes being made.

    It is time for Wisconsin to lead the nation with healthcare before the National program goes into effect.

  2. J. Strupp says:

    Why did you use $666 billion when a good chunk of ARRA dollars went to public assistance programs (Medicaid support, UI extensions, job training, food stamps, etc.) and not job creation?

    Side note: A little less than half of ARRA was tax cuts so both parties got what we paid for which is a low impact, short lived solution to a major crisis.

  3. Randy in Richmond says:

    I didn’t invent the term “job saved” but since this administration uses it I will also. Most all of the funds spent on the programs you mention went to employees administering those programs. When states use their funding for say, Medicaid, you can bet the jobs saved figure was increased by the employees in that system getting paid from the Stimulus funds. The government pretty much makes or creates nothing–there are exceptions but they are minor. Otherwise the 2.4 million jobs saved/created figure is an even bigger farce.

    Remember I am using the government figures here so I am forced to use their logic to defend my point. In no way do I agree with what I am about to share:

    The U.S. Department of Agriculture (UDSA) calculates that for every $5 of food-stamp spending, there is $9.20 of total economic activity, as grocers and farmers pay their employees and suppliers, who in turn shop and pay their bills. This was confirmed in findings by other economists and stimulus studies, which found that the fastest way to infuse money into the economy was through expanding the food-stamp program.

    So again, as this is the administation’s logic, you can bet the “jobs saved and created” figure includes the funding that went into Food Stamps. Of course if this were true then to me we should just put all our money in Food Stamps and just keep multiplying our money ad infinitum. I know your thoughts on this and to be fair you have said all along the Stimulus should have been larger. We can agree to disagree on this.

  4. Randy in Richmond says:

    There was another announcement by the administration as we entered the holiday weekend. Eric Holder released a statement that the Justice Department was dropping it’s investigation into the CIA’s past interrogation, rendition, and detention activities with 2 exceptions. Remember back in May, subsequent to the killing of Osama bin Laden, when it was learned how those very techniques played a major part in the location of bin Laden. The following was alluded to on this site:

    “And isn’t it ironic that this President’s Attorney General, Eric Holder, is at this moment investigating intelligence agents from the Bush administration concerning the “harsh” interrogations of suspected terrorists… The odds of this investigation going anywhere just dropped to near zero.”

    Near zero was just reached.

  5. The Lorax says:

    Torture had nothing to do with Bin Laden as I understand it. Can you help me out here?

  6. Randy in Richmond says: