We're talking about two different things then. You're talking about the stimulus bill passed by Congress in 2009. I'm talking about the measures the Fed has been taking to "stimulate" the economy (e.g., QE, Operation Twist).
But... what's the cost? The report written by the White House’s Council of Economic Advisors, ... "the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job. "
In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead. Furthermore, the council reports that, as of two quarters ago, the “stimulus” had added or saved just under 2.7 million jobs — or 288,000 more than it has now. In other words, over the past six months, the economy would have added or saved more jobs without the “stimulus” than it has with it. In comparison to how things would otherwise have been, the “stimulus” has been working in reverse over the past six months, causing the economy to shed jobs.
Also taking that money from the tax payers and/or increasing the federal debt destroys jobs. Franchiseblade's job may have been saved but it came at the expense of someone else's.
There's no spinning this number... 88k added is abysmal. I think the economy is moving in the right direction overall but that is a concerning number.
Well that money wasn't taken from tax payers it was just made up. You have no idea if increasing the federal debt created or lost jobs. You would have to create an alternate universe to test your hypothesis. I did like the idea if just everyone whose job was created by the stimulus a 100k since each job cost 270k. If they all spent that 100k buying a house or something maybe that would have jump started the economy.
You do know that's how many jobs we were losing a month under Bush before he left office right? I agree we can be doing better but lets have some perspective hum?
As I expected Economy Added 165,000 Jobs In April; Unemployment Down To 7.5 Percent The economy added 165,000 jobs in April and the unemployment rate ticked down to 7.5 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 135,000 jobs. The report also included big positive revisions for previous months. February’s jobs number was revised from 268,000 to 332,000, while March was revised up from 88,000 to 138,000.
If not for the sequester/payroll tax increase etc, it would probably real recovery numbers (200k+) Oh well, **** america getting back to work.
I wish we could make this better. Some work is better than nothing, but more and more people I know are working part time jobs.
Obama should be kicked out of office for the pathetic job he has done. Labor force participation is a national disgrace. Instead of focusing on the economy, Obama prefers to stir up political sh!tfits regarding gays, guns and abortions.
