Stimulus bill saves 640,000 jobs? |
News - Hugh's Views | |||
Written by Hugh McManus | |||
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Right. What nonsense. As you dig into the claims made by the White House, you find out that the figure of 640,000 is a fiction. The methodology to determined "saved jobs" is flawed: it's basically the aggregation of personal opinions. Of course, the figure is pretty scary if $159 billion in cash saved only 640,000 jobs. Why? Well that figure works out to be about a quarter of a million dollars per job–hardly value for money. Well, I wouldn't dispute the fact that a stimulus package will create jobs. After all, a tax hike has a negative impact on the economy, so putting money in should be stimulative. However, it might have made more sense to give a tax rebate rather than what looks to be very poor value for money.
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