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Stimulus jobs cost at least 228,055 each
TooBig
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CBO: Stimulus Jobs Cost at Least $228,055 Each
The jobs that were created and saved by the economic stimulus legislation that President Barack Obama signed in February 2009 cost at least $228,055 each, according to new data from the Congressional Budget Office.
In a report released on Wednesday, the CBO said it now estimates the stimulus bill costs $821 billion, up from its original estimate of $787 billion.
The CBO also estimated that in the fourth quarter of 2010, between 1.3 and 3.5 million people were employed who would not have a job if the stimulus had not been enacted.
The CBO also estimated that between 1.4 and 3.6 million were employed as a result of the stimulus bill during the third quarter of 2010.
The figures take into account not only the new jobs believed to have been created, but also the existing jobs that were saved that would otherwise have been lost.
So the $821 billion cost of the stimulus, divided by the maximum of 3.6 million jobs the CBO believes were saved or created, equals $228,055 for each job, according to CNS News.
Taking the 1.4 million figure for jobs created or saved means each job cost $586,428.
Footnote: When President Obama signed the stimulus bill, the national unemployment rate was 8.2 percent. In January 2011, it was 9 percent. [V][xx(][:(]
The jobs that were created and saved by the economic stimulus legislation that President Barack Obama signed in February 2009 cost at least $228,055 each, according to new data from the Congressional Budget Office.
In a report released on Wednesday, the CBO said it now estimates the stimulus bill costs $821 billion, up from its original estimate of $787 billion.
The CBO also estimated that in the fourth quarter of 2010, between 1.3 and 3.5 million people were employed who would not have a job if the stimulus had not been enacted.
The CBO also estimated that between 1.4 and 3.6 million were employed as a result of the stimulus bill during the third quarter of 2010.
The figures take into account not only the new jobs believed to have been created, but also the existing jobs that were saved that would otherwise have been lost.
So the $821 billion cost of the stimulus, divided by the maximum of 3.6 million jobs the CBO believes were saved or created, equals $228,055 for each job, according to CNS News.
Taking the 1.4 million figure for jobs created or saved means each job cost $586,428.
Footnote: When President Obama signed the stimulus bill, the national unemployment rate was 8.2 percent. In January 2011, it was 9 percent. [V][xx(][:(]