UPDATE: Linked by The Astute Bloggers… THANKS!
According to the Congressional Budget Office (CBO), the American Recovery and Reinvestment Act, also known as Porkulus, bought us between 1.3 and 3.5 million “saved or created” jobs for about $229,000 to $586,000 each.
Why don’t we just split the difference and figure we paid $400,000 per job? And, by the way, congratulations to the administration for finding all those “saved” jobs up its sleeve to add into the equation, or we’d be looking at some really ugly – or I should say uglier — numbers here.
…the CBO estimated that in the fourth quarter of 2010 there were somewhere between 1.3 million and 3.5 million people who were then employed who would not have been had the stimulus not been enacted. “CBO estimates,” says the report, “that ARRA’s policies had the following effects in the fourth quarter of calendar year 2010: … Increased the number of people employed by between 1.3 million and 3.5 million.”
This estimate seeks to state the net impact the stimulus had on the number of people employed in the United States as a result of the stimulus, taking into account not only the new jobs believed to be created and the existing jobs believed to be killed by the stimulus, but also the existing jobs that were saved that otherwise would have been lost.
I actually feel kind of sorry for the CBO bean counters. After the Healthcare debacle last March, they must be really weary of their role as the Obama administration’s personal propaganda Pez dispenser. But they’re stuck, being as their services are only required on the right side of the equal sign. The numbers on the left side of the equation are always delivered to them pre-cooked into what will ensure the best BS total possible to, in this case, rehabilitate a colossal historic blunder.
This time it means diluting brutal employment statistics with unverifiable facing-saving flotsam called “saved” jobs. Vague, elusive, existing jobs that President Obama declares with absolute certainty never would have survived in a free and unfettered market without his expert assistance.
Of course, the inability to measure Mr. Obama’s jobs formula is part of its attraction. Never mind that no one — not the Labor Department, not the Treasury, not the Bureau of Labor Statistics — actually measures “jobs saved.” As the New York Times delicately reports, Mr. Obama’s jobs claims are “based on macroeconomic estimates, not an actual counting of jobs.” Nice work if you can get away with it.
And so the spin is that we’re darn lucky that wiser heads saw the necessity of
flushing spending upwards of $1 trillion on swine odor research, tattoo removal, beaver management, etc. — because if we had been silly enough to entrust an economy already sickened by government meddling to the cleansing ministrations of the free and unfettered marketplace, the engines of innovation, competition, and productivity would still be stalled (or more stalled), and unemployment would be way way worse than it already is.
Because, of course, free market principles have never worked in the history of America, have they?
As a matter of fact that is the only thing that does work. What has drains the lifeblood out of the an economy like a million ticks on a zebra is busybody, smother-mother, bossy-cow lefties who have made it their life mission to intercept and confiscate everyone else’s money and distribute it where they think best.
The scary thing is that this smother-mother is taking it beyond anything anyone ever imagined. She’s refinanced the house, maxed out every credit card she can get her hands on, raided the youngsters’ piggy banks and college funds, and is at this very minute down at Cash Connection with the deed to your car.
And, no, I’m not referring to one of those 690,000 clunkers that President Obama bought for $24,000 each last year and then scrapped.