CBO Analysis - Stimulus Bill $300,000 per job!

[WhiskeyGirl]

I'll bet a lot of people will want those $300,000 jobs...

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.

 

"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."

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?