Mama Bin Cranky

Remember the $800 billion stimulus that came in Obama’s first month as President.  It was a Democratic Gimme List shoved through with a promise that unemployment would not go over 8% if passed.  Obama’s experts told us this.  Flash forward three years.

Politico has an article about the Congressional Budget Office numbers regarding jobs and that first stimulus.  Turns out, under the best possible scenario, the stimulus provided 3.3 million jobs.  At worst, it provided 500 thousand.  These are pretty broad highs and lows.  So, lets use the rosiest scenario of 3.3 million jobs.  The cost of each job was around $242,000 each.  The “experts” around Obama like to tell us that taxpayer government money handed out in stimulus has a multiplier effect over the actual amount handed out.  In other words, $1 handed out by the government really benefits us by the tune of $1.50 in magic ways.  So, $242000 should have given us 5 straight up decent jobs at about $48,000 per person.  With the multiplier effect, it should have been about 6 decent jobs – teacher jobs, fireman jobs, policeman jobs.  So, by my estimation, the stimulus should have resulted in about 6 jobs instead of the one job per $242,000.  That would be 3.3 million times 6. That would be 19.8 million jobs rather than a puny 3.3 million jobs.  Epic fail, Obama.

Of course, after seeing how the first stimulus worked out the only real thing to do is try again with another stimulus under the guise of Obama’s Can’t Wait Jobs Bill.