WASHINGTON - President Barack Obama is trumpeting a new White House estimate that his top economist calls "stunning": His stimulus plan has already created or saved up to 2 million jobs.
The analysis is part of the administration's quarterly report to Congress on the controversial $787 billion package of spending and tax cuts he signed weeks after taking office. ...
Let's see, $787 billion divided by 2 million "jobs" that were "created or saved" equals a cost to the taxpayers of $393,500 per "job" that was "created or saved" (*) -- that is, IF the number of "jobs" which were "created or saved" were actually so high as 2 million.
BUT, the terminology that "up to 2 million jobs" were "created or saved" means that we're talking about some hypothetical number less than 2 million. Therefore, the cost to the taxpayers is some unknown number greater than $393,500 per "job" that was "created or saved."
Hells bells! Why not just claim to have "created or saved" up to 2 BILLION "jobs" -- that claim would be just as honest and just as meaningless as the claim advanced.
(*) equals a cost to the taxpayers of $393,500 per "job" that was "created or saved" -- this computation ignores, of course, that the US doesn't have the $787 billion in the first place, and so must borrow it or "create" it via inflation; and so the real cost to the citizens of the US is much higher than $787 billion.
Here's Bob Parks' take: Obama Math
1 comments:
I recently read an article by VDH on the different obamas that we see, and he is right, it's almost as if the fellow has a split personality and doesn't know what the other is saying day to day. Just making it up as he goes along.
Fortunately for him, his sycophantic media entourage doesn't question him like they would have a republican.
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