Tuesday, June 5, 2012

CBO Finds Obama Stimulus May Have Cost As Much as $4.1 Million Per Job

Gateway Pundit - A new study by the non-partisan Congressional Budge Office revealed that the Obama Stimulus may have cost as much as $4.1 million per job.

What a deal!

The American Enterprise Institute reported:

The Congressional Budget Office in a new report:

When [the American Recovery and Reinvestment Act] was being considered, the Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation estimated that it would increase budget deficits by $787 billion between fiscal years 2009 and 2019. CBO now estimates that the total impact over the 2009–2019 period will amount to about $831 billion.

By CBO’s estimate, close to half of that impact occurred in fiscal year 2010, and more than 90 percent of ARRA’s budgetary impact was realized by the end of March 2012. CBO has estimated the law’s impact on employment and economic output using evidence about the effects of previous similar policies and drawing on various mathematical models that represent the workings of the economy. …        More