Thursday, February 24, 2011
More Costly Outcomes
So just how much has been spent on our Federal government stimulus program and just how many jobs have been saved (a nebulous figure never used before the Obama administration and one impossible to accurately tabulate) or created? The short answer is that no one knows just yet and we may never be able to figure it out. The tally for the cost is seemingly continuing to rise. Just yesterday, The Washington Times' Stephen Dinan reported that the cost of stimulus has actually been adjusted upward by thirty-four billion dollars more than originally projected to $821 billion according to the non-partisan Congressional Budget Office. In the context of all the Federal government is spending, $34 billion may not seem like much but a billion here and a billion there and pretty soon you are talking Weimar. In any event, jobs saved and created does not add up as unemployment remains at levels higher than when the so-called job saving stimulus was passed.