Obama promises 600,000 new jobs
June 8, 2009 by Steven Ting
Filed under Economy, General
With record deficits, Obama proposes to create 600,000 new jobs with the stimulus money that has been provided. That is just plain dumb. So we spend $787 billion to create 600K jobs. That means we’re spending $1.31MM to create one job. There’s got to be a better way. With the amount of money he’s spending, I’d expect him to create 4MM jobs. From Politico.com, we have the following:
President Barack Obama is announcing Monday that he is ramping up stimulus spending exponentially in the next three months, allowing the administration to “save or create” 600,000 jobs — four times as many as during the first 100 days since he signed the bill.
The spending plans include national parks, summer youth jobs, veterans’ medical centers, police and teachers.
Obama will make the announcement during a late-morning Cabinet meeting, when Vice President Joe Biden will present a Roadmap to Recovery, which the White House calls “an administration-wide effort to accelerate implementation of the American Recovery and Reinvestment Act in its second 100 days.”
“As a result of this accelerated pace of activity, over 600,000 jobs are expected to be created or saved by the Recovery
Act in the second 100 days,” compared with roughly 150,000 in the first 100 days, the White House said.
Plus, with a loss of over 2 million jobs since he took office, how hard can it be to create 60oK jobs? I mean, it can’t be that tough, especially with the budget he’s proposed. The realy question is the quality of those jobs. Are they minimum wage jobs or are they $100K+ type jobs?
Maybe Obama should take an example from California and start cutting programs, instead of spending money we don’t have.
