The latest news on the American Recovery and Reinvestment Act should surprise no one except liberals/progressives and the economic geniuses that pushed it through congress. It turns out the Stimulus Bill cost the taxpayers $288,000 per job, most of it to retain government employees. The Daily Mailer gives a good perspective on this waste of money:
The 'Seventh Quarterly Report', written by the Council of Economic Advisors, revealed the stimulus added or saved 2.38million jobs since its introduction in February 2009.
But the legislation cost a total of $666billion to date, or roughly $278,000 per job.
The figures mean the U.S. government could have given a $100,000 cheque to everyone whose employment was made possible by the $800 billion American Recovery of Reinvestment Act (ARRA) - and taxpayers would still have come out $427billion ahead, The Weekly Standard reported.
Now, that the federal largess is fading away, so are those $300,000 jobs. CNSNews reports:
According to the report, because stimulus spending is receding, the jobs estimated to have been supported by that spending are beginning to disappear as well. At the height of its effectiveness – the second and third quarters of 2010 – the CEA estimated that the stimulus was supporting 2.7 and 2.8 million jobs respectively.
When Obama signed the $787 billion stimulus spending into law -- the American Recovery and Reinvestment Act (ARRA) – on Feb. 17, 2009, he said, “Now, what makes this recovery plan so important is not just that it will create or save 3.5 million jobs over the next two years, including 60,000-plus here in Colorado. It's that we're putting Americans to work doing the work that America needs done -- in critical areas that have been neglected for too long; work that will bring real and lasting change for generations to come.”
Yeah, you gave us everlasting change all right. And future generations of Americans will be bringing nothing but change home in order to pay off this debt.
And since the first Stimulus was such a big success, we’ve got morons like Senator Harry Reid who want more taxpayer money to flush down the D.C. toilet: