Last week, the NY Times took aim at the Obama-deniers – the Dem Senatorial candidates who wont even admit that they voted for the guy (even though they voted with the guy over 90% of the time).
Specifically, the Times blasted:
But one of the reasons for his unpopularity is that nervous members of his own party have done a poor job of defending his policies over the nearly six years of his presidency, allowing a Republican narrative of failure to take hold.
Few voters know that the 2009 stimulus bill contributed heavily to the nation’s economic recovery, saving and creating 2.5 million jobs.
I can nit pick that it should be “recovered” not created … and I could point out that full-time jobs are being replaced with part-time jobs … and I could pile on by mentioning that most of the jobs are in the low pay hospitality and retail industries.
But, I won’t do that, because I want to make another point.
====
Let’s flashback to the Obama Stimulus …
When the Stimulus was bull-rushed through the Dem-controlled Congress, it was reported as “providing a $787 billion boost to the economy.”
But, the non-right-leaning Washington Post says that when all the dust settled the total stimulus bill looks more like $1.2 trillion — and maybe as much as $1.7 trillion — the vast majority of which fell between 2010 and 2012.
OK, let’s take the Post’s $1.2 trillion and divide it by the Time’s 2.5 million jobs created.
Ka-Ching!
That works out to almost a half-million dollars per job created.
Now, why aren’
Hmmm.
=====
#HomaFiles
Follow on Twitter @KenHoma >> Latest Posts
The Homa Files 
October 27, 2014 at 4:48 pm |
You forget that these jobs augmented aggregate demand and thus avoided further layoffs. Also, the most cited estimate is $280K/job almost half of yours. Now what if we compare that with the private sector was doing at that time, the answer is obvious.