CBO: Jobs Created and Saved By Stimulus Cost At Minimum An Average of $228,055 Each

[The Straight Story]

The jobs created and saved by the economic stimulus law that President Barack Obama signed on Feb. 17, 2009 cost at a minimum an average of $228,055 each, according to data released yesterday by the Congressional Budget Office (CBO).

In a report released Wednesday—“Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October Through December 2010”—the CBO said it now estimates the stimulus law cost a total of $821 billion, up from CBO’s original estimate that the stimulus would cost $787 billion.

In the same report, the CBO estimated that in the fourth quarter of 2010 there were somewhere between 1.3 million and 3.5 million people who were then employed who would not have been had the stimulus not been enacted. “CBO estimates,” says the report, “that ARRA’s policies had the following effects in the fourth quarter of calendar year 2010: … Increased the number of people employed by between 1.3 million and 3.5 million.”

This estimate seeks to state the net impact the stimulus had on the number of people employed in the United States as a result of the stimulus, taking into account not only the new jobs believed to be created and the existing jobs believed to be killed by the stimulus, but also the existing jobs that were saved that otherwise would have been lost.




http://cnsnews.com/news/article/cbo-jobs-created-and-saved-stimulus-cost

[pnwmom]

1. That figure doesn't mean much since there's no way to know

how many years of employment each of those jobs will provide.

[Godhumor]

2. Why the fuck would you link to CNS as a news source?

Baffling.

[The Straight Story]

3. I don't read the site, one of the links I found went there, here are some other sources:

CBO: Jobs Created or 'Saved' by Stimulus Cost $228055 Each

17, 2009 cost at a minimum an average of $228055 each, according to data released yesterday by the Congressional Budget Office (CBO). In a report released Wednesday-"Estimated Impact of the American Recovery and Reinvestment Act on Employment and ...
Obama stimulus bill has new price tag USA Today American Sauce: Obama's stimulus bill CNN Political Ticker (blog) CBO raises its stimulus cost estimate, again Washington Times
The Hill (blog) - Christian Broadcasting Network

http://content.usatoday.com/communities/theoval/post/2011/02/obama-stimulus-bill-has-new-price-tag----another-one/1

[ProSense]

5. The USA Today doesn't mention a cost per job

The CBO report doesn't put a cost on each job created.

That's RW simplistic math at work.

[Godhumor]

10. Just FYI, CNS is Bozell's mouthpiece and has a stated mission of "correcting" liberal bias in media

The other articles you post there only talk about the stimulus cost, and nothing abuot the cost per job.

Trying to claim the entirety of the stimulus was spent to save 1.3 million jobs is equivalent to figuring out the cost per federal job by dividing the people by the entire Federal budget.

The CBO does not release a cost per job figure because it is horseshit to try and do so. The CNS "reporter" did that on his own.

[pinto]

4. What the assessment stated in the opening line overlooks - effects of stimulus $ isn't over.

They're framing it as if it's a closed / done deal. :hi:

[lumberjack_jeff]

6. It is always cheaper to give poor people money.

Than to give it to rich people and hope it trickles down.

Always.

[Dokkie]

7. I would like to see what numbers were used in the calc

for example, how do u factor in the billions of dollars in tax cuts into the average? because the CBO guys work with whatever figures they are given and my guess is they told to regard tax cuts as spending. Lets hope am right cos the average is just bad because in a stimulus, you would expect less stimulus to generate an even bigger growth not the other way around.

[PBS Poll-435]

8. What about the value added to our infrastructure?

ARRA was not just cash to workers.

[MidwestTransplant]

9. BINGO DING DING DING

These workers weren't paid to walk in circles. They were paid to create stuff. Much of it infrastructure. The money didn't just go into people's hands as cash payments. It bought materials, etc.