Recent numbers from the White House, which the Obama administration understandably didn’t proclaim too loudly, show that the government’s economic stimulus has done nothing to improve the economy, while adding $666 billion to the debt.
Jeffery Anderson of the Weekly Standard recently reviewed the White House report, noting that even Obama’s hand picked economists couldn’t find anything good to say about the stimulus. The report claims that the stimulus is responsible for close to 2.4 million jobs. If that’s the case, each of those jobs cost taxpayers $278,000.
To make things worse, the report admits that in the last six months, the stimulus has been having a negative affect, losing almost 300,000 jobs. Not to mention, the stimulus era has witnessed a two percent rise in unemployment. As many warned from the beginning, the results are now confirming that the stimulus has had more of a negative than positive effect.
Jeffery Anderson’s piece in the Weekly Standard can be found here.