Obama Stimulus: $738,000 Per Job

The President always likes to say his plan "worked".  Well, a few days ago, his Transportation Secretary, Ray LaHood, proudly declared that the $48 billion spent on infrastructure projects created 65,000 jobs on 15,000 projects.  

As I've said before, heavy construction projects -- like the ones that the federal government gets involved  in -- are more equipment and material dependent than people dependent; and, that kind of spending doesn't replace the lost consumer spending that caused the recession.  Therefore, a lot of money is spent with only a few people actually gaining work.  When you do the math on Lahood's proudly declared projects, the government actually spent $738,000 on each job it created.   And, when those transportation projects were finished, the workers went back being unemployed.

This is why Keynesian-style stimulus is such a waste, and, this is why so-called government stimulus won't create jobs and won't cause an economy to recover.  Obama's plan is socialist idiocy!  Now, we're saddled with trillions of dollars in debt and nothing to show for it; creating thousands of jobs when millions are unemployed.  Let's replace this guy in the fall.  He's literally destroying this country from within!

Reference for this post:

More Stimulus Madness -- $738,000 For Each Job Created By DOT: http://reason.com/blog/2012/08/21/more-stimulus-spending-madness-738000-fo