Tuesday, July 5, 2011
What Could You Do With $278.000?
Once again we get another lesson that Government is not a very efficient allocator of capital. In a new release late Friday ("Seventh Quarterly Report"), the White House Council of Economic Advisors indicated that the stimulus plan saved or created 2.4 million jobs at a cost of $666 billion, or $287,000 per job. A reasonable person just might conclude that the stimulus did little to actually stimulate the economy but had a dramatic stimulative effect on the deficit. In fact, the taxpayers would have saved $247 billion if the government had just written $100K checks to the lucky 2.4 million.
Posted by The Grouch at 5:18 AM
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I would have run to the store and charged 10 times the amount given to me. Then I would have the government pay off my mortgage.ReplyDelete