[QUOTE=Buster;4233427]I was unable to find the Bloomberg report. Link?
The plan was to get the money for the stimulus thru tax increases or closing loopholes in the tax code.
Some of this money will end up helping the states via income and sales tax.
Necessary American infrastructure will be created, fixed and maintained thru this stimulus money. This needs to be done.
Some random thoughts:
folks are falling over each other to lend the USA money at the lowest rates ever. Why not take advantage of that?
If the repo-man showed up early Saturday morning at the US treasury demanding re-payment couldn’t the USA just sell its 140+ million ounces of gold in Fort Knox?
Gold is well over $1500 isn't it?
The Debt is a big issue, no doubt but it is secondary to unemployment. Debt is being used by the far right for political ends.
We need to get people working, get kids to go to school for engineering again and then fix the wonkiness in our economy.[/QUOTE]
I made the dollar amount calculation by dividing the 500Billion cost by the 280,000 jobs. Approximately 1.8 million per job. Note that even if the average of the 34 economists was wrong and you double the number of jobs created is still costs approximately 1 million per job.
Bloomberg News, Sept. 28: The legislation, submitted to Congress this month, would increase gross domestic product by 0.6 percent next year and add or keep 275,000 workers on payrolls, the median estimates in the survey of 34 economists showed. The program would also lower the jobless rate by 0.2 percentage point in 2012, economists said. …
Some 13,000 jobs would be created in 2013, bringing the total to 288,000 over two years, according to the survey. Employers in the U.S. added 1.26 million workers in the past 12 months, Labor Department data show.