CBO Say’s Obama’s Stimulus Cost Taxpayers $228.000 PER JOB!
Today’s report by the CBO reporting the Obama, Pelosi and Reid’s stimulus cost taxpayers $228.000 per job and added another $821 BILLION DOLLARS to the debt should outrage taxpayers. Americans need to wake up and realize that government cannot create job’s. When the government subsidizes one sector of the economy in effect they are penalizing other sectors by taking away capital that might have purchased there product or services. All that bailout cash could of been spent buying I-pads from Apple or plywood from Lowe’s, I bet they wouldn’t of cost $228.000 a pop. The politicians are choosing some workers over others, history has shown every time this happens everbody looses. By propping up failing companies like G.M. and others the federal government is rewarding failure. A perfect example is Chrysler they where bailed out once before in the 80’s and are back again asking for taxpayer money. These mega-corporations have no incentive to take the drastic measures to correct decades of bad business decisions. Bankruptcy would force the companies to innovate or die, and bankruptcy would also allow them to get out from under those insane union contracts. The big labor unions pay scale is not what inhibits these companies its all the bargained away flexibility companies need to survive in a global market. The non-union car manufactures in right-to-work states pay about the same but have more flexibility with there workforce. The obscene cost per job created is coming out of every taxpayers paycheck, taxpayers could surely spend there own money in more productive ways creating job’s in there own states and cities. The taxes gained locally would also be seen immediately and taxpayers would have more say so in how there spent. Why should taxpayers in one state be forced to subsidized other states like California who vote for morons that pander to special interest and are gutless to make hard decisions. After all they can count on the rest of the country to subsidize their poor decisions. The federal government has failed every time it has intervened in private sector business, more harm then good is the usual result. When politicians intervene in private sector business there decisions and actions are based on making there supporters and special interest happy. Obama’s stimulus is the perfect example, the majority of “job’s” where steered to special interests that financed his campaign. When private sector businessmen make there decisions there based on growing a profitable business. By the time politicians and bureaucrats get done regulating and strangling business you can see why it costs $228.000 to create a $60.000 a year job. These subsidized jobs in many cases disappear when the government subsidy dry’s up, by then the politicians are destroying the new “cause of the week. Can anybody name one instance where government meddling ever benefited the taxpayer?
A report released last week by the CBO called, “Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October Through December 2010” says the stimulus law cost a total of $821 billion, up from the CBO’s original estimate that it would cost $787 billion.
In the third quarter of 2010, the CBO estimates that somewhere between 1.4 million and 3.6 million jobs were created or saved by the stimulus. The $821 billion cost of the stimulus divided by the maximum of 3.6 million jobs the CBO says the stimulus may have saved or created equals an average of $228,055 per job.
After his appearance at the Energy Innovation Summit in Washington on Tuesday, CNSNews.com asked Schwarzenegger, a supporter of the stimulus law since its passage in 2009, about the CBO’s report.
They [CBO] released a report saying that the stimulus package created 3.6 million jobs – a maximum and cost the taxpayers $228,000 per job. Do you think it was still worth it given this assessment from the Congressional Budget Office?” asked CNSNews.com.