Wow, it's been a long time since posting...whatever.
Ok, so I just heard that the $787B stimulus is now being proudly touted as saving 650,000 jobs.
WTF?
Let's break this down a little. We spent $787B and we only got 650,000 jobs? I will now demonstrate what an offensive and gross waste of money this was.
The Hard Data: Suppose that we just take the money and give it directly to the people. They wouldn't even have to work. So by that measure, 650,000 people would have gotten $1.2 MILLION dollars each.
"Hey," you say "that's not fair. Less than 1/2 the stimulus money has been spent." Alright, I understand your concern. Let's just cut the number in half (for easy number crunching). Now each worker only gets $600,000. Damn, I have no idea how I would ever be able to survive on such a paltry sum.
Alright. Now, let's do something a little more interesting. Suppose that instead of getting these people jobs, let's just give them a *reasonable* amount of money to carry them for a year. Let's just make that number $40,000. Under this plan, even with only half the stimulus spent, it would have supported nearly 19.7 MILLION people. I would like to point out that, according to the BLS, there are only 15.1 million people unemployed.
TADA!!!
I will now take a bow, go find the crackerjack box that has the Nobel Prize for Economics in it, and start working on a cure for cancer.
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1 comments:
Don't forget that we actually borrowed money to pay for it - so that means the cost is increasing for every job by the day!
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