$43.7 Billion of “Stimulus” Spent; 1.5 Million Jobs Lost; Taxpayer Cost: $2,900 per Job Lost

From John Kartch on Monday, June 8, 2009 1:04 PM

With President Barack Obama today announcing plans to speed up “stimulus” spending this summer in an effort to “save or create” 600,000 jobs, Americans for Tax Reform (ATR) pointed out the following:

-- At least 1.5 million jobs have been lost since the signing of the “stimulus”. From the time of Obama’s Feb. 17 signing of the “stimulus” bill, the U.S. has lost at least 1.5 million jobs, according to Bureau of Labor Statistics data.

-- Each lost job has cost taxpayers $2,900. According to Recovery.gov, $43.73 billion of the “stimulus” funds have been spent as of May 29. Dividing $43.73 billion by the 1.5 million jobs lost since the signing of the “stimulus” means that taxpayers have ponied up $2,900 per lost job.

-- There is no honest way to measure the number of “saved” jobs: The Obama-invented metric of a “saved or created” job was best debunked by Senator John Ensign (R-NV) on March 4 while challenging Treasury Secretary Tim Geithner’s use of the term:

SEN. JOHN ENSIGN: "You created a situation where you cannot be wrong. If the economy loses 2 million jobs over the next few years, you can say yes, but it would've lost 5.5 million jobs. If we create a million jobs, you can say, well, it would have lost 2.5 million jobs," Ensign said. "You've given yourself complete leverage where you cannot be wrong, because you can take any scenario and make yourself look correct."

-- “Stimulus” spending has proven highly questionable thus far. Taxpayers are on the hook for $550,000 to build a skateboard park and renovate basketball and tennis courtsin Pawtucket, Rhode Island; $4,000,000 for the paving of a private jet parking lot in struggling Aspen, Colorado; and $11,400,000 for the National Zoo in Washington, DC.

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Permalink | Email | Print | Tags: TAXES, CONGRESS, SPENDING, EARMARKS, OBAMA, TRANSPARENCY, BUDGET, STIMULUS

Comments

So let me get this straight... the stimulus is "working"; jobs have been "saved or created"; and now we're going to "ramp up" the spending??? This is a recipie for disaster and unfortunately the American people are too complacent, and too worried about their own problems in their lives to really look over this Administration's shoulder. 3 years and counting folks... 3 LONG YEARS.
>> Mel LA Tuesday, June 9, 2009 9:11 AM

No one -- not the Labor Department, not the Treasury, not the Bureau of Labor Statistics -- actually measures "jobs saved." The administration is spinning job loss into a claim that it has "saved or created" 150,000 jobs over a time period when the U.S. economy suffered an overall job loss 10 times that number. Where is the White House press corps skepticism towards Obama’s jobs claims? Apparently it was all put towards Bush’s tax cuts.
>> Sydney San Francisco Tuesday, June 9, 2009 11:01 AM

You bunch of haters! If it weren't for Obama, we'd all be doomed! He's done so much to protect our rights to kill babies and repeal the Defense of Marriage Act! And let alone his use of the constitution as toilet paper! He just wants what russia and cambodia had! EQUALITY!
>> Bardy Wednesday, June 10, 2009 2:45 AM

The government already takes .50 on every dollar I earn. Between the state and federal government I see no end in site. I am middle class on a good year of earning. All I ask is that I have an opportunity to keep what I make. I don't want government bail outs. Not for me or any failing company. I was taught that gavernment is to haave a limited role in the lives of the public. Government is hear to serve. Lets bring up term limits again and this time enforce them.
>> Jason Ellingson Sunday, June 14, 2009 10:55 AM

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$43.7 Billion of “Stimulus” Spent; 1.5 Million Jobs Lost; Taxpayer Cost: $2,900 per Job Lost

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