Simple, yet scathing
The New York Times says…
administration officials are counting on a lift this summer from the $168 billion economic stimulus package that Congress passed last week and from the Federal Reserve’s recent decisions to reduce short-term interest rates….[CEA Chair Edward Lazear] predicted that the stimulus package would create an additional 500,000 jobs this year.
Economics professor Greg Mankiw adds…
In other words, each job created adds $336,000 to the national debt.
Good deal!
February 14th, 2008 at 11:54 am
A minimum wage job, at $7.15 / hr, would pay (gross) about 366K after 25 years. Godd deal, indeed.
Why don’t we just skip the middleman and send the 168 Billion straight to China?
February 15th, 2008 at 1:42 pm
how does this job creation cause debt? Jobs are being created rather then not, their contributing to the tax base