Obama Now Promising To “Create Or Save” 4 Million Jobs Which Will Be A Bargain At $193,750 Per Job
This is up from the 3 million new/saved jobs promised to mandate just a couple of weeks ago, and way up from the 2.5 million he promised to save/create during the campaign.
In a new report, his transition team says his spending plan would create between 3.3 million and 4.1 million jobs. The report was released as Mr. Obama battles fellow Democrats in Congress over the size and details of the bill, which the president-elect wants to total slightly less than $800 billion but which some Democratic leaders say should near $1 trillion.
The Obama report says that even with a recovery package, unemployment will still be 7 percent at the end of 2010, but would be 8.8 percent without a recovery. Mr. Obama earlier in the week had warned of double-digit unemployment, but the report does not appear to back that claim.
How’s Obama gonna do this? With $775 billion worth of new government spending (nearly 5% of our GDP) on things like CFL light bulbs, of course. Which, if it works (and it won’t) would mean that each new job would cost American taxpayers $193,750 per job.
Not exactly a bargain, but I guess this is the “change we can believe in” America voted for.
