Crazy Joe Biden is back out running his mouth again spewing out irrational nonsense again. On what planet does spending $412.500 to create one single job make any damn sense. This says everything about Barrack Hussein Obama, Crazy Joe Biden and the rest of the liberal Kool-Aid drinkers. These folks in Washington and I am including a lot of Republicans are so out of touch with the real world they actually believe the crap they say. Today Obama is out burning more jet fuel trying to push yet another federal government stimulus. His latest “plan” HARP 2.0 to bail out folks with underwater mortgages is just a new name for a two year old program that has already failed. His own people admit that his plan would only average about $26.00 per month in savings to people who refinance under HARP. This is liberal progressive euro-trash socialism at its finest, spend $400.000 plus a pop for a “new” job then throw chump change back to the very taxpayers whose taxes paid for those stimulus jobs. Americans could afford to pay there mortgage payments if there incomes where not being sucked dry by politicians in Washington, DC. Obama, Pelosi and Reid our leading the charge to drag our country right into third world status. No country in the world has ever prospered our survived with a central planned government, governments takes but rarely returns income that is a proven fact. Over decades as the federal government has grown our economy has shrunk, freedom creates prosperity. We need to get back to our roots as true capitalist where the private sector create jobs and government stays the hell out of way.
All government does with all its regulatory meddling and micro-management is to divert income to bureaucrats when it could be used to hire employees and expand business.
CNSNews.com) – 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.
“No. Look, here’s the deal,” said Biden. “Nobody can look you in the eye and tell you that the Recovery Act and that stimulus did not create jobs and did not do very good things for the economy.
“The problem was in the beginning, the economists said that in fact we wouldn’t go above 8 percent, because they didn’t know until this last quarter that the economy shrunk in the last term of the Bush administration almost 9 percent,” said Biden. “Everybody thought it was more like 5.5 percent. And so the point was, we were all operating off of what the blue chips were looking at, and the numbers were wrong. But the fact is, if we hadn’t had that stimulus, we would be in a position now where we would be in a double dip recession some time ago.”
In August, the Congressional Budget Office published an updated analysis of the American Recovery and Reinvestment Act–the economic stimulus law that President Obama signed in February 2009. The analysis said that the law cost $825 billion. According to the CBO report, the recipients of stimulus funds reported that the stimulus money had funded the equivalent of more than 550,000 full-time jobs in the second quarter of this year.
CBO estimated that the actual total might be greater than that. In its calculation, there will be between 600,000 and 2 million people employed in the fourth quarter of 2011 as a result of the stimulus.
Taking the high-end number of 2 million and dividing it by the $825 billion cost of the stimulus yields a cost of $412,500 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.
As more reports and complaints trickle in about the incredible cost per job for Obama’s stimulus bill the numbers are sickening. The private sectors average cost per job created runs about $100,000, contrast that with costs as high as $2 million per job created by Obama, Reid and Pelosi’s big government stimulus. Worse yet almost all the Obama stimulus jobs are temporary and pay higher wages then would be paid in the private sector. Obama’s complete lack of fundamental capitalism is not real shocking, like most liberal Democrats in government most have never held a real job. The one consistent point in all Obama, Reid and Pelosi’s stimulus waste is cronyism and payback. Its not real complicated to see that the Obama, Reid and Pelosi stimulus waste is driving our economy and nation into an unrecoverable state. The Democrats blathering on about not extending the complete Bush tax-cut package is telling. Why do they continue to bash wealth creation, who do they think creates jobs, homeless guys and magic ferries. Wealthy small business men create companies by risking personal or borrowed capital in hope that there risk pay’s off. Getting rich is the whole reason why these risks are undertaken why shouldn’t they benefit. The engine of capitalism is fueled by wealth creation, why do the democrats continue with there assault on capitalism. At a time when small business is struggling and job growth is non-existent, adding even greater burden with tax hikes will only continue the high unemployment. Why do democrats look at lower taxes as bad thing, people work hard for that income why is it so bad they get to keep there own money?
Employment generation disappointing: LA City Controller
By IB Times Staff Reporter
The Los Angeles City Controller said on Thursday the city’s use of its share of the $800 billion federal stimulus fund has been disappointing.
The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.
“I’m disappointed that we’ve only created or retained 55 jobs after receiving $111 million,” says Wendy Greuel, the city’s controller, while releasing an audit report.
“With our local unemployment rate over 12% we need to do a better job cutting red tape and putting Angelenos back to work,” she added.
According to the report, the Los Angeles Department of Public Works generated only 45.46 jobs (the fraction of a job created or retained correlates to the number of actual hours of work) after receiving $70.65 million, while the target was 238 jobs.
Similarly, the city’s department of transportation, armed with a $40.8 million fund, created only 9 jobs in place of an expected 26 jobs.
The audit says the numbers were disappointing due to bureaucratic red tape, absence of competitive bidding for projects in private sectors, inappropriate tracking of stimulus money and a laxity in bringing out timely job reports.
“While it doesn’t appear that any of the ARRA funds were misspent, the City needs to do a better job expediting the process and creating jobs,” she said.