bloomberg.com - 12/25/2008
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Commentary by Caroline Baum Dec. 24 (Bloomberg) -- President-elect Barack Obama is still four weeks away from inauguration, and already the size of government is growing. His initial goal of creating 2.5 million new jobs has been upped to 3 million, rising in lockstep with a proposed economic ...
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The Math Of Obama’s Stimulus Spending Doesn’t Work
Say Anything —
So says Caroline Baum:
Obama has been working with his advisers so that the proposed $750-billion-and-counting package of tax breaks and spending on infrastructure, education, health care and unemployment insurance is ready to go on Day One. (No on-the-job training necessary!)
There are currently about 10 million unemployed workers in the U.S. (The Bureau of Labor Statistics defines as unemployed those persons who didn’t work in the week of the monthly employment survey, were available for work and made an effort to find work in the previous month.)
“If we write a check for $75,000 to each of the ...
DOING THE MATH OTHER AMERICANS WON'T DO - AND PROVING OBAMA'S STIMULUS PACKAGE IS A WASTEFUL BOONDOGGLE
THE ASTUTE BLOGGERS —
BAUM/BLOOMBERG - VIA GLENN: The Obama administration’s goal of creating 3 million new jobs by January 2011 will run smack into “the natural demographic flow, which will add 3.2 million people to the workforce” in the same time period, O’Neill said. In effect, “we are going to spend $750 billion, the number of unemployed will rise and the (unemployment) rate will go down slightly.” Shoveling to Prosperity O’Neill did the math so you don’t have to. Each job “will cost $250,000, which doesn’t suggest much labor intensity for the dollars spent,” he said. “It makes me wonder if any of the planners ...
Opportunity in Crisis
Maggie's Farm —
... An important essay: Obama’s Job-Creation Program Flunks Basic Math by Caroline Baum at Bloomberg. One quote: ...
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openleft.com 12/19/2008 — Oops.
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NEW YORK (CNNMoney.com) – Despite praising it publicly, the energy industry is wary of President-elect Barack Obama's incoming energy team which will likely call for major changes in the country's ...
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