CBO Says Jobs Created By Stimulus Cost $412,500 Per Job in Fourth Quarter

Written on by V2A, Filed under
Economics, Government, Labor, Law, Politics
 18


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.

On CNN’s “State of the Union” on Sunday, host Candy Crowley asked Biden about the skepticism of those who point out “we did almost $1 trillion ins stimulus spending” and the administration said “unemployment won’t gove above 8 percent,” and yet we have not had the results the administration forecast.

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  • ricbee

    I didn't get one,so I'll just take the cash please.

    • VictorMagilke

      We're on the same page my friend, I didn't get one either. Maybe next time!

  • http://adrianvance.blogspot.com adrianvance

    Rush Limbaugh has made a very good case that most of these "jobs" were exercises in money laundering to unions for the purpose of getting a major fraction back as campaign contributions. This is the least of the corruptions in Washington, DC. Every empire has failed from corruption within and it appears we are on that path.

    The Two Minute Conservative at http://adrianvance.blogspot.com has political analysis, science and humor. Now in the top 3% on Kindle.

  • Jerry

    What is the return on all this money! The way I learned you're supposed to make a profit from investing! A job that cost $412,000+ is supposed to bring back at least 4 mil counting for expenses, etc.

  • teaman

    Don't you understand folks, politicians pass programs that don't work and then claim they do to cover their stupid butts. Dummycrats are notorious for this. It is all about dependency on government. If the program puts so much as a dollar in someone's pocket, that is not earned, they have secured a vote. If the Obama/Romneycare stands, the Dummycratic party will have secured over 50% of the voting in this country. The proof is in the details/pudding. Voting is secured when the goodies flow for it's all about stealing tax money from those willing to work for a living. Would you be actually shocked to know there is a large percentage of people who truly believe they are entitled to what ever they can steal. Of course, they don't look at it as stealing if the government gives it to them. When the Welfare System(socialism) was started years ago, Pandora's box was opened and it will never be closed again. Continued.

  • Jerry

    The dims never know where the money is going. The second the money is spent the dims have forgotten all about it ever existed! In taheir mind there is no reality, if one could call them having a mind!

  • teaman

    The number one responsibility of the federal government is to "protect our Nation from all enemies both foreign and domestic(WHAT EVER THE COST)", and it is not the function of the federal government "to take care of the individual needs of it's citizens". But here we are, a socialist Nation.
    My God tells me, "if you don't work you don't eat". TUFF LOVE IS DEAD FOR WE HAVE NOT THE GUTS FOR IT!!!!

  • Dusty1

    The administration will stick to their story that the stimulus created or saved jobs. The sad truth is that we are seeing, even today, the money is being used to pay back democratic contributors and no one has the guts to challenge this theft of public taxpayer money.

  • guest on this planet

    Do [eople realize what the democrats are costing the country ?

  • Larry

    The cost of creating the jobs described in this are without a doubt are all minimum wage jobs that are not permanent positions and the people that will get these jobs will have to work a lifetime to come close to match what it will cost the Tax Payers to create the jobs. So these jobs are not a win win for anyone they are jest sinking the United States into quick sand faster than ever before. This should prove beyond a doubt that this SOB Barrack Obama is destroying this country and every thing he does jest accelerates the speed at which the United States sinks into oblivion.

  • Dan Clamage

    What democrats won’t acknowledge is that every dollar of public federal spending comes out of the private economy. Or that the multiplier effect is actually negative; every dollar of federal spending only generates 80 cents worth of economic activity. That’s because the federal gov’t doesn’t produce anything of economic value. It’s a giant black hole sucking away our productivity like a leech.

  • mimi

    WHAT JOOOBS, OBUMMER IS SENDING AMERICAN JOBS TO OTHER COUNTRYS PEOPLE, NOT LETTING BOEING GO TO SOUTH CAROLINA, BECAUSE THAT IS A RIGHT TO WORK STATE,NO JOBS FOR THEM, ALSO WANTING TO SEND GIBSON GUITAR COMPANT TO ANOTHER COUNTRY,JOBS FOR OTHER COUNTRYS PEOPLE!!!! WAKE UP AMERICANS WAKE UP NOOOOOOW,THIS BUMMER MUST GOOOOOO!!!! HE IS BRING DOWN THE GREATES COUNTRY IN THE WORLD,YES THAT WAS HE'S HOPE AND CHANGE!!!!!!!!!! WE HAVE TO STOP HIM NOOOW!!!!!!!!!

  • Stephen

    Stimulas money was just payola to Obamas cronies and unions…..It helped pay union pension funds in Wisconsin.
    Liberals pay attention to this: Obama gave money to an electric car company that is creating 500 jobs in Finland. The car will retail for $97,000 each…He also gave 1/2 billion dollars to a solar green company that filed bankruptcy and laid off 1100 workers and when you loafer protesters in the park start paying taxes, you will have to pay off this debt. This is why socialism doesn't work.

  • SoCalStar

    The government … is a poor capital allocator. And there's a huge amount of inefficiency and friction in the system. So, the government spends money unwisely. It gets a poor return. If people get half of what they pay for it will be a miracle. ….Bill Bonner, The Daily Reckoning, July 4, 2011

  • joyce

    I could create many more jobs from $412,000 couldn't you? Typical of how badly the government does everything and why they should get out of the way of real job creation. They (goernment in all sectors) are the problem, not the solution!

  • joyce

    left out the v in government. .

  • joyce

    I don't think we can wait until 2012 to stop this, our so called leaders, need to step up and impeach Obama before he does any more damage. There might be enough Democrats who would agree to have a majority vote. If they are not freightened at what he is doing then they are really unaware of what is going on all around them. Business leaders, Congress and Senate, do your jobs and get this man out of the White House. There are impeachable offenses here. If you recuse the last two justices he appointed, we will get an impeachment.,

  • Gringo Infidel

    Brilliant! That problem is solved – where would we be if the evil conservatives were not holding Senile Joe and the usurper in the White House back?

    What full fledged, genuine, unrepentant, moronic idiot.

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