Incidentally:
- one billion divided by one million is one thousand
- one hundred billion divided by one million is one hundred thousand
- six hundred billion divided by three million is two hundred thousand
If the idea here is create three million jobs, it is going to cost roughly two hundred thousand dollars to create each job. Someone explain to me why spending $600Billion to create 3 million jobs is a good idea. This is the equivalent of paying 3 million people 30K a year for almost 7 years.
Who gets the money, who gets hired, who does the selections, and exactly what work is done.
Reuters: Biden says deal near on stimulus plan
The incoming Obama administration is nearing agreement with congressional Democrats on a huge emergency spending bill intended to jolt the weak U.S. economy and create 3 million jobs over two years, Vice President-elect Joe Biden said on Tuesday.
2 comments:
f the $$ will be absorbed by existing structures. I doubt if much ever creates any jobs. A good example are the existing Army Corp. beach Projects. These create almost no real jobs but cost millions to do over and over again. They will be tauted and are already being tauted as job creators. Why? because the pitchmen for these projects go to the pols and they make the outrageous claim that if u don't let us do your beach you won't have any economy and therefore no jobs. It's total nonsense but the pols are easily scared by the Army and it's band of paid for scarecrows. I just hope Obama doesn't bu this kind of crap as job creation. I'm going to speak to Congress in the spring with a group to try and educate the folks there on this scam. It's what my blog is dedicated to doing and has been since I started it.
If it works anything like Carter's New Deal in the late 70s, its going to be full of partisanship, kickbacks, all kinds of vendetta activity, and waste.
Where does the money come from? They simply print more money I would assume. How does this help anything in the long run. All it will amount to is an artificial bubble that still has to be repaid down the road. They presume that the creation will generate more revenue in the long run, this is simply called gambling.
It sounds like the beach project is more pork spending. On the surface they talk about fairness and waste and all that but behind the scenes its a wink and nod. I wish you luck, persistence is the key.
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