New Report Shows Dems’ Failed Stimulus Cost $278,000 Per Job As Economy Got Worse
July 5, 2011
FYI, a similar version of this release below went out to the following districts: Jason Altmire (PA-04), Sanford Bishop (GA-02), Tim Bishop (NY-01), Dan Boren (OK-02), Leonard Boswell (IA-03), Bruce Braley (IA-01), Dennis Cardoza (CA-18), Russ Carnahan (MO-03), Ben Chandler (KY-06), Gerry Connolly (VA-11), Jim Cooper (TN-05), Jim Costa (CA-20), Henry Cuellar (TX-28), Joe Donnelly (IN-02), Raul Grijalva (AZ-07), Martin Heinrich (NM-01), Brian Higgins (NY-27), Jim Himes (CT-04), Ruben Hinojosa (TX-15), Tim Holden (PA-17), Rush Holt (NJ-12), Jay Inslee (WA-01), Steve Israel (NY-02), Dale Kildee (MI-05), Ron Kind (WI-03), Larry Kissell (NC-08), Rick Larsen (WA-02), David Loebsack (IA-02), Jim Matheson (UT-02), Carolyn McCarthy (NY-04), Mike McIntyre (NC-07), Jerry McNerney (CA-11), Michael Michaud (ME-02), Brad Miller (NC-13), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Gary Peters (MI-09), Chellie Pingree (ME-01), David Price (NC-04), Nick Rahall (WV-03), Mike Ross (AR-04), Loretta Sanchez (CA-47), Adam Smith (WA-09), Betty Sutton (OH-13), John Tierney (MA-06), Niki Tsongas (MA-05), Pete Visclosky (IN-01), Tim Walz (MN-01), John Yarmuth (KY-03)
NewReport Shows Cardoza’s Failed Stimulus Cost $278,000 Per Job As Economy Got Worse
California Democrat Will Continue Having a Hard Time Defending His Failed Spending Spree
Washington — Recent reports continue to reveal the true cost of Dennis Cardoza’s government spending spree that promised rapid recovery and delivered little except skyrocketing debt owed to foreign countries like China. Now the Obama Administration’s own economists have estimated in their reports that Cardoza’s stimulus cost taxpayers $278,000 per job in the end. Cardoza will now have to explain why spending hundreds of thousands of dollars to create each temporary job was worth exploding the size of government and plunging the country even deeper into debt.
“California’s middle-class families should ask Dennis Cardoza why it was worth it to spend $278,000 for each temporary job in his Democrat spending spree,” said NRCC Communications Director Paul Lindsay. “Instead of concentrating on pro-growth policies which empower California’s small businesses to expand and create real jobs, Cardoza chose to support his failed stimulus that has helped burden our economy with record debt levels owed to foreign countries like China.”
“The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the ‘stimulus’ in adding or saving jobs. The council reports that, using ‘mainstream estimates of economic multipliers for the effects of fiscal stimulus’ (which it describes as a ‘natural way to estimate the effects of’ the legislation), the ‘stimulus’ has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.” (Jeffrey H. Anderson, “Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job,”
The Weekly Standard‘s Blog, 7/3/11)
The results of Dennis Cardoza’s failed stimulus are telling – far fewer jobs than promised, an explosion in the size of government and enormous amounts of additional sovereign debt. Cardoza will now have to explain to his California constituents why they should pay the price for his disastrous big-government experiment.
New Report Shows Dems’ Failed Stimulus Cost $278,000 Per Job As Economy Got Worse http://ow.ly/5xgYG #madeinwdc
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