Thanks, D and Reymont, for reminding us that things like the Hoover Dam and the Interstate Highway System were spontaneously created by magical fairies.
@dmitrir and @Paul: If I stole money out of your bank accounts, and used it to pay D to wash my car...I didn't create a job. That's no net benefit, and its not what we should want the government to do. How many lawmakers can also make good business decisions, anyway?
The $447 billion American Jobs Act proposes to create 1.9 million American job, which works out to a cost of about $235,263 per job and add 2 percentage points to GDP.
Since when does this White House ever get its numbers right. The last $900+ billion stimulus was supposed to drop unemployment under 8%, but it went over 10%. Keynesian economics fails every time it is tried!
If he wants to throw away money, just write every man, woman and child a check for $1,500. It will do a lot more for the economy than his ridiculous plan.
In the "Bush years" the checks did stimulate the economy. Even you might have been able to keep your job during the times compared to this Great Recession.
But government does not 'create jobs.'
http://www.whitehouse.gov/the-press-office…
Since when does this White House ever get its numbers right. The last $900+ billion stimulus was supposed to drop unemployment under 8%, but it went over 10%. Keynesian economics fails every time it is tried!
If he wants to throw away money, just write every man, woman and child a check for $1,500. It will do a lot more for the economy than his ridiculous plan.