Sunday, June 28, 2009

New Math, Obama Style

Is stimulus creating jobs? Yes but.....

The above article concerns the number of jobs created by the stimulus package. Aside from actual hiring by the government, I'm not sure how one quantifies the number of jobs saved. Anyway, the White House has a formula that equates each $92,000 of stimulus funds to a job saved/created. OK then, here is my math:

6,000,000 jobs lost during this rec(depr)ession

$92,000 of stimulus needed per job

$552 billion of stimulus to get back to even on the jobs front

If the entire balance of the Recovery Act ($787 billion) was perfectly accessed to create jobs, the total would be 8.5 million.

When was the last time the federal government performed with perfect execution? Also, consider the fact that $650 million was spent on the analog to digital tv converter box program (spent on additional coupons and such). I doubt those funds saved over 7,000 jobs.

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