The latest CBO report says the stimulus saved or created 1.4 to 3.3 million jobs*

[rudder]

Joe Biden's take:

http://www.whitehouse.gov/the-press...w-cbo-report-employment-and-economic-impact-r

Of course we need to get the the asterick....

The [employment] numbers are based on "evidence from similar policies enacted in the past and on the results of various economic models." pg.4 of the CBO report.

http://www.cbo.gov/ftpdocs/117xx/doc11706/08-24-ARRA.pdf


I want to know why the White House won't release the real numbers? I thought we were promised transparency. This seems to reek of smoke and mirrors to me which definitely affects transparency.

 

[boomerang]

So, in other words, it's a guess.

 

[bamacre]

I'm quite sure the large number of Americans who are still unemployed or under-employed are content.

 

[dfuze]

They don't want to release real numbers because they will most likely cause consumer confidence to drop further. No confidence means continued decreased consumer spending and prolonged recession.

 

[nick1985]

*

I may or may not be full of shit

 

[fisheerman]

So my math is fuzzy but I think it works out to

$787B stimulus / 3.3M jobs = $238,484 per job to save/create

^ math correct? I hope i missed some zeros and this number isn't correct

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

 

[Genx87]

So my math is fuzzy but I think it works out to

$787B stimulus / 3.3M jobs = $238,484 per job to save/create

^ math correct? I hope i missed some zeros and this number isn't correct

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

It could be worse. I read a Time magazine article on Green energy job creation via govt subsidies. Those ranged anywhere from 300K to 18 million\job.

 

[nick1985]

So my math is fuzzy but I think it works out to

$787B stimulus / 3.3M jobs = $238,484 per job to save/create

^ math correct? I hope i missed some zeros and this number isn't correct

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

So, according to their numbers...

At best the taxpayers shelled out $238K to temporarily "save" a job.

At worst, the taxpayers coughed up $562K to temporarily "save" a job.



The stimulus worked!

 

[rudder]

So my math is fuzzy but I think it works out to

$787B stimulus / 3.3M jobs = $238,484 per job to save/create

^ math correct? I hope i missed some zeros and this number isn't correct

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

The report says 1.4 to 3.3 million jobs. So your cost per job rate is assuming the best case scenario. This number is also dependent on whether the historical data or models used in the report are not flawed.

 

[DesiPower]

ya... and my unicorn is sick today, just wont fly, it galloped all the way to work.

 

[IndyColtsFan]

So, according to their numbers...

At best the taxpayers shelled out $238K to temporarily "save" a job.

At worst, the taxpayers coughed up $562K to temporarily "save" a job.

The stimulus worked!

I wonder what the average salary + benefits of all those "saved jobs" happens to be.

 

[nick1985]

I wonder what the average salary + benefits of all those "saved jobs" happens to be.

Heh.

I wonder why Biden isn't telling everyone the cost of each temporarily "saved" job? He sure seems to be touting the stimulus during this Summer Recovery Tour he is on, why not just tell the people at his rallies how much they paid to keep someone working? Is he too embarrassed to do it, or does he just not have the balls to say?


Whats going to happen when the stimulus money is gone, and these people are out of work again? Another stimulus?

 

[dfuze]

I think until state budgets are truly balanced "stimulus" will be required each year.

 

[cganesh75]

So my math is fuzzy but I think it works out to

$787B stimulus / 3.3M jobs = $238,484 per job to save/create

^ math correct? I hope i missed some zeros and this number isn't correct

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

so your math assumes that they have spent all the stimulus money?

 

[EagleKeeper]

As another has stated/implied, how long are those jobs being kept around. 1 Yr, 2Yrs.. with the amount of money?

When the actual economy is unable to support those jobs; when will the other shoe drop?

 

[fisheerman]

so your math assumes that they have spent all the stimulus money?

yes but i would probably counter challenge that the number of saved/created jobs are also assuming that the stimulus money was spent as well

^---just a guess though

 

[dfuze]

Looking at the math I don't think it's correct, I don't think they've spent the entire $787 billion, have they?

 

[nick1985]

Looking at the math I don't think it's correct, I don't think they've spent the entire $787 billion, have they?

I dont think it has all been spent.

Lets be generous, lets say they have spent just half of the stimulus money.


That means, depending on whose "numbers" you believe....

Assuming 1.4 million jobs "saved", that means 281k for each temporarily saved job.

Assuming 3.3 million jobs "saved", that means 119k for each temporarily saved job.



Again, this is assuming half of the stimulus has been spent. Those numbers are still fucking asanine and in no way resemble success.

 

[rudder]

As another has stated/implied, how long are those jobs being kept around. 1 Yr, 2Yrs.. with the amount of money?

When the actual economy is unable to support those jobs; when will the other shoe drop?

One county in Tennessee was suffering from a 25% unemployment rate. With stimulus funds, the state hired 300 people in this county to lower that rate. These jobs were funded for 18 months. This happened roughly last August. These people have another 6 months of employment.

 

[Cogman]

so your math assumes that they have spent all the stimulus money?

Why not? The obama administration has assumed that there is no stimulus money left (and hence a need for a new stimulus bill).

I don't know why they even bother with the "saved/created" bogus numbers. They might as well say "We saved 330 Million jobs, because the US would have ceased to exist without our stimulus."

 

[Mursilis]

One county in Tennessee was suffering from a 25% unemployment rate. With stimulus funds, the state hired 300 people in this county to lower that rate. These jobs were funded for 18 months. This happened roughly last August. These people have another 6 months of employment.

What were they hired to do exactly?

 

[Jaskalas]

One county in Tennessee was suffering from a 25% unemployment rate. With stimulus funds, the state hired 300 people in this county to lower that rate. These jobs were funded for 18 months. This happened roughly last August. These people have another 6 months of employment.

Hello double dip.

 

[Cogman]

What were they hired to do exactly?

Figure out how many jobs were saved/created in their county.

 

[Cogman]

Hello double dip.

Just spend more money... It is the obvious solution. Oh, and let the bush tax cuts die. that will OBVIOUSLY stimulate the economy more.

 

[rudder]

What were they hired to do exactly?

46 were hired by the department of transportation. Not all actually work for the state. The money was given to companies to hire these people.

http://www.tennessean.com/article/20090726/BUSINESS01/907260369/In-Perry-County-stimulus-is-working

the unemployment rate in that county is about 16% for now.