The jobs created and saved by the economic stimulus law that President Barack Obama signed on Feb. 17, 2009 cost at a minimum an average of $228,055 each, according to data released yesterday by the Congressional Budget Office (CBO).
In the same report, 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.”
Thus, the $821 billion cost of the stimulus divided by the maximum of 3.6 million jobs the CBO believes the stimulus may have saved or created equals an average of $228,055 per job.
In February 2009, when President Obama signed the stimulus law the national unemployment rate was 8.2 percent, according to the Bureau of Labor Statistics. In January 2011, the national unemployment rate was 9.0 percent.
" President Obama 'Pissed Away"at least $821 billion and we gained nothing !"