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CBO Analysis - Stimulus Bill $300,000 per job!
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Topic: CBO Analysis - Stimulus Bill $300,000 per job! (Read 1791 times)
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WhiskeyGirl
Monkey All Star Jr.
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Posts: 7754
CBO Analysis - Stimulus Bill $300,000 per job!
«
on:
February 04, 2009, 05:02:19 PM »
I'll bet a lot of people will want those $300,000 jobs...
Quote
US Senate's Stimulus Bill Spends Up To $300,000 Per Job - CBO
Wednesday February 4th, 2009 / 22h40
By Martin Vaughan
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The Congressional Budget Office has projected that a U.S. Senate economic recovery proposal would create between 2.8 million and 8.2 million jobs through 2011, according to an analysis released Wednesday.
With the package estimated to cost $836 billion over the next three years alone, that amounts to a per-job cost of at least $100,000, said Sen. Charles Grassley, R-Iowa, who requested the CBO analysis.
If actual jobs created are closer to the lower estimate,
the cost per job reaches nearly $300,000,
Grassley said.
Quote
"There's been a lot of talk about bang for the buck, but there's no talk about actually making sure it happens so that Americans get the help they need," Grassley said in a statement. "Before Congress spends another $1 trillion, we ought to make sure we are getting our money's worth."
Quote
Over the long term,
the stimulus bill would actually reduce economic output
, CBO also said in its analysis. That is because
an increase in government debt from the stimulus spending would "crowd out" private investment
, the CBO said.
http://www.easybourse.com/bourse-actualite/marches/us-senate-s-stimulus-bill-spends-up-to-S-00-000-per-job-610205
Hmmm... maybe fewer jobs after the stimulus? Need more stimulus? Never ending cycle? Maybe the currency will collapse before that happens?
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All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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