In a press briefing Thursday afternoon, White House Press Secretary Robert Gibbs addressed President Obama’s comment in a recent interview with the New York Times regarding the stimulus and “shovel-ready projects.” In the interview, Obama curiously said that he realized too late that “there’s no such thing as shovel-ready projects.”Let's take Gibbs at his words and assume that 75,000 jobs figure is in no way padded or inflated, though the White House has already established a well-documented record of falsifying jobs numbers.(1)
“Well, I — look, there are more than 75,000 job-creating projects have been started as a result of the infrastructure investment in the — in the Recovery Act,” said Gibbs.
The "stimulus" bill spent $105.3 billion on "infrastructure improvements."(2) If 75,000 jobs were created that comes out to $1,404,000 in borrowed government spending per job created.
$1.4 million in spending for each temporary infrastructure "stimulus" job.
And that's the best-case scenario, not including the cost of interest on the borrowing or the fact it is all but certain fewer than 75,000 jobs were created.
(1) - The Heritage Foundation, "Morning Bell: The Fake Jobs of Obama’s Failed Stimulus," Nov. 17, 2009
(2) - The American Recovery and Reinvestment Act of 2009
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