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Obama's Recovery Act costly? Boehner Math: The Bush Tax Cuts (which are STILL in place!) Cost $500,000 Per Job

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07/05/2011 04:34 PM
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Obama's Recovery Act costly? Boehner Math: The Bush Tax Cuts (which are STILL in place!) Cost $500,000 Per Job
Insert in parenthesis in header is mine.



"Today, Speaker Boehner promoted a statistic concocted by the Weekly Standard claiming that President Obama's Recovery Act (aka "the stimulus") cost $278,000 per job. The stat is simply the overall cost of the Recovery Act, both the government spending and the tax cuts, divided by a low-end estimate of the jobs created or saved by ending the economic free-fall of late 2008 and early 2009."


"The White House quickly pushed back with the basic reason why the stat is bogus: the Recovery Act wasn't only about creating jobs, but also to invest in American infrastructure, education and energy and lay a foundation for long-term prosperity. Further, the Recovery Act wasn't only made up of government spending to directly create jobs, but also, as conservatives typically neglect to mention, tax cuts for most Americans to mitigate the drop in demand caused by the recession."


"If the balanced approach of the Recovery Act isn't good enough, what's the conservative response to the lingering jobs crisis? The conservative response to everything: more tax cuts.

We did try that recently. Let's apply the Boehner Math test and see how it worked.

* The estimated cost of the Bush tax cuts through 2008 was $1.5 trillion.

* The number of jobs created during the Bush presidency was 3 million.

* Using Boehner's Math and a trusty handheld calculator, and you end up with
$500,000 per job.

Almost double the cost of Obama's stimulus."


Full article at:

[link to www.ourfuture.org]