Vice President Joe Biden said yesterday on CNN that nobody can say "that the stimulus did not create jobs," but he did not specificy how many jobs he believes President Barack Obama's stimulus created and how much each of those jobs cost.

According to the most recent report on the stimulus by the Congressional Budget Office, the law had created a maximum of 2 million jobs as the fourth quarter of 2011 at a cost of $412,500 per job.


Phaedrus76's picture
Phaedrus76 8 years 16 weeks ago

Which, compared with the 2001 and 2003 Bush Tax cuts, which created zero net jobs, (we had fewer jobs in May 2009 than we did in July 1999), cost how many trillions?

- 2,000,000 jobs / $2,500,000,000,000 = -8e - 7, according to my calculator.

Or losing each 1 job, cost us $1,250,000.

What is missing is the cost of the alternative of the stimulus program.

Those 2 million jobs created, in the atmosphere of 9 million other job losses, added to the hopelessness of the conservative ideas, hitched to a doddering old man yelling at American protesters "get off my lawn!" At what point in the faliure of this nation to fulfill the promise of providing for the general welfare, and encouraging commerce do this great mass of jobless, plus the next 30 million of people trapped in jobs with falling wages, and worse conditions, decide they are going to revoke their consent to be governed? At what point do we lose our domestic tranquility?

What are the costs of 11,000,000 jobless? Food stamps, and some kind of cash assistance? Direct welfare, aid to families, etc. Plus kids in foster homes, folks in prison, more cops, etc etc etc.

Say 11,000,000 job losses, times familiy size of 4, at $10,000 each, 44,000,000 * 10,000 = $4400,000,000,000 per year, for 2010, for every year, until we dump the WTO and bring back tariffs. And that $10,000 is real low. Each person in prison costs about $100,000 a year, foster care costs north of $22000 a year, in AZ, and we are typically fairly stingy in AZ. Food stamps can run $4000 a year alone.

Plus, the loss of household wealth? The higher crime rates, the damage to neighborhoods, the flight of people further away from the urban centers.

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