Great news! Contrary to what us nay-sayers were warning, preliminary data is out about the success of the $787 billion stimulus plan.
The first direct stimulus reports showed that stimulus contracts saved or created just 30,083 jobs, prompting more Republican criticism of the $787 billion package.
The data posted Thursday was the result of the government’s initial attempt at counting actual stimulus jobs. Obama administration officials stressed that data was partial — it represented just $16 billion out of the $339 billion awarded — but they said it exceeded their projections.
So having spent $16 billion, the government has saved or created 30,083 jobs! Success!
Let’s see, if I divide the money spent by the jobs created, it turns out that the government spent slightly over $531,000 for each job. Success, right? Well, success only as can be defined by the government.
It’s easy for a family or a company to waste money, but to waste money on a truly epic scale, it takes a government. So here’s a picture I put together to express my feelings on the stimulus.