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Analyst: Obama’s Plan Will Cost $250,000 Per Job

Wednesday, 14 Sep 2011 01:10 PM

Fixed income analyst John Poehling figures President Barack Obama's jobs plan will cost taxpayers $250,000 per job.

“For those eager to put some math to the rhetoric coming from the White House over the president's jobs creation plan, and that should be everyone, here is a quick and dirty estimate based on the numbers being thrown around of a 2 percent GDP increase in year 1 and 1.9 million jobs created or saved,” Poehling writes at Zero Hedge.

Since the president is proposing to pay for the program over 10 years, Poehling assumes the $475 billion the Obama plan will cost in direct expenses is financed for 10 years at 2.5 percent, adding roughly $120 billion to the cost of the program for a grand total of $595 billion.

“The overall AJA plan will cost $250,000 per job created (excluding the interest expense) and $312,500 per union job created (including interest),” says Poehling, adding that’s that amount is how much it costs for Obama to purchase one vote.

obama200getty.jpg
President Barack Obama
(Getty Images photo)
“Keynesian efficiency strikes like a Swiss watch yet again," says Poehling.

"Wouldn't it be better just to have a free national lottery and mail $200,000 checks to a lucky 1.9 million people?"

The Oil And Gas Journal reports that Obama’s jobs package included $50 billion of tax increases aimed at the oil and gas industry that the White House has included in its past few federal budget requests.

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Fixed income analyst John Poehling figures President Barack Obama's jobs plan will cost taxpayers $250,000 per job. For those eager to put some math to the rhetoric coming from the White House over the president's jobs creation plan, and that should be everyone, here is a...
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Wednesday, 14 Sep 2011 01:10 PM
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