Prepared by Obama's Council of Economic Advisers, the report says that just under $670 billion has been spent so far and it claims that the stimulus "saved or created" somewhere between 2.4 million and 3.6 million jobs.
Remember, the stimulus bill was supposed to prevent the unemployment rate from exceeding 8%. Today it is 9.1%. One study indicated that the stimulus bill actually suppressed private sector job growth.
But for the sake of argument, let's accept the administration's figures and let's do the math. Under the "best case" scenario, Obama's stimulus bill saved or created 3.6 million jobs at a cost of $186,000 per job. Under the "worst case" scenario, it saved or created 2.4 million jobs at a cost of $279,000 per job.
Neither scenario is a good deal for taxpayers. This is a perfect example of why job creation should be left to the private sector and not Big Government!
By the way, in recent days President Obama has been warning that the country cannot afford to make "draconian cuts" in spending, and should instead "invest in infrastructure." There isn't a day that goes by without some commentary about the state of America's crumbling infrastructure -- from bridges to roads, schools and airports.
But Obama and the Democrats sold the stimulus bill as an investment in infrastructure. What happened to all of those "shovel-ready" projects? As it turns out, Democrats didn't invest in infrastructure. Much of the stimulus bill was a bailout for state and local governments, a payback to public employee unions.
There is no doubt that America could benefit from real investments in infrastructure. But Obama and the Democrats have zero credibility on this issue.
Obama: "I've Got Five And A Half Years Left" At a fundraiser in Philadelphia last week, President Obama tried to rally his depressed liberal base with these words of encouragement:
My friends, America can't afford another five and a half years of Barack Hussein Obama! I mean that literally -- we can't afford it. According to CNSNews.com, the national debt has increased $3.7 trillion during the first two and a half years of Obama's administration. That is a historic achievement, albeit a regrettable one.
For perspective, the article notes that the national debt increased nearly $5 trillion under George W. Bush. But that included all eight years of Bush's administration. At his current pace, Obama is on track to add more than $10 trillion to the national debt if he gets another five and a half years!
And if Obama gets a second term, he will pack the courts, including the Supreme Court, with more left-wing activists, meaning the culture war will likely be lost. After another five and a half years of Obama, America will be economically bankrupt and our culture will be morally bankrupt.
Tags: Gary Bauer, Campaign for Working Families, private sector, job creation, jobs, Obama Administration, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
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