Saturday, November 20, 2010

Obamanomics: Failure of the stimulus

I was watching "Cashin in" this morning and one of the Obama supporters was bragging about the "fact" that the stimulus package has created 3 million jobs! Others on the panel disputed this "fact" saying that there is no possible way of knowing that.

Let's suspend all reality for a moment and imagine that it was really true. If the government spent roughly 800 billion dollars to stimulate the economy and the result was 3 million new jobs, doesn't that mean that it cost about about $267,000 of your tax money per job!

Does that sound like a very efficient use of money to you? To me it looks like big government politics, payoffs, bureaucracy, corruption and waste. And its your money (well, actually, it is probably also your children's and grandchildren's money).

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