I'd Call That a Bargain / The Best I Ever Had

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According to the Obama administration, they can now prove that the stimulus created 30,000 jobs! And they promise to flesh out the "rough calculations" that will add another million jobs to the total. The Hill has the good news:

The first direct stimulus reports showed that stimulus contracts saved or created just 30,083 jobs, prompting more Republican criticism of the $787 billion package.

The data posted Thursday was the result of the government's initial attempt at counting actual stimulus jobs. Obama administration officials stressed that data was partial—it represented just $16 billion out of the $339 billion awarded— but they said it exceeded their projections. "All signs—from private estimates to this fragmentary data—point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months, a much needed lift in a very difficult period for our economy," said Jared Bernstein, the chief economist for Vice President Joe Biden. According to the White House recovery office's rough calculations, the 30,083 jobs number projects out to a total of 1.2 million jobs saved or created by the stimulus through September.

Full story.

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  1. $500,000 per job. No wonder you’re having trouble finding Reason interns.

    1. The taxes on the $500K will pay for health care reform.

    2. Tut tut, Attorney. The jobs were worth $531,861.85 (by my calculations) per person. Let us be fair in our criticism. I have every bit of faith in hope and change that the 30,083 jobs were both necessary and worth every penny we borrowed from China.

  2. Isn’t that a few million jobs shy of what Obama said they saved before any of his stimulus started?

  3. Why is the White House being so modest? Their stimulus saved or created all the jobs that currently exist.

  4. My job as a commentor at HnR? Saved by the stimulus plan. All is well.

    1. I suspected you were on the intertubez. Saw a hit on the blog from New Orleans today.

      1. Wasn’t me, bro.

        1. Oh, cool, a new viewer.

          Hello anyway Naga.

  5. Exactly 30,083 jobs. Not one more and not one less. And they plan to extrapolate that to 1.2 million? These people are delusional to the point of hallucination.

  6. I smell a 2010 Nobel in Economics. When’s the nomination deadline?

  7. All signs — from private estimates to this fragmentary data — point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months, a much needed lift in a very difficult period for our economy

    Horseshit.

    1. Citation needed quickly before the racism squad gets to you.

    2. Actually, J sub, I believe what we are dealing with here is not, in fact, horseshit.

      Its unicorn shit.

      And it smells like roses.

      1. R C Dean,
        I served with a unicorn, I know unicorns. A unicorn was a friend of mine.

        Mr Dean, this is no unicorn shit.

    3. The very difficult period in our economy was difficult because a shitload of people lost their jobs — or, in Obamaspeak, “lost or failed to obtain jobs”.

  8. If you’re alive today, it’s thanks to my magic, asteroid-repelling rock.

    1. Sir, I’d like to buy your rock.

  9. Borrowing creates jobs. Who knew?

    It’s paying back what you owe that’s a bitch.

    All we have to do is compromise our morals and everything will be fine.

  10. All we have to do is compromise our morals and everything will be fine.

    Luckily, i went morally bankrupt long before declaring the financial type.

  11. But how many people recognized that title is lyrics from a Who song?

    1. I would sincerely hope that most H&R readers would recognize the song.

    2. Me. And I agree with Andrew S.

    3. From the same album that gave us “Meet the new boss…”

      It’s one of the two weakest songs on the LP. Love Ain’t for Keeping is the other.

  12. Obama administration officials stressed that data was partial … but they said it exceeded their projections.

    I have similar sentiments wrt my data and projections concerning the administration. 8-(

  13. Daniel Gross over in Slate is trying to defend the stimulus, saying that it’s unfair that conservatives (and libertarians) are attacking it for failing, when the money has hardly been spent yet. Of course, that it would take so long to spend the money was a prime criticism.

    1. The intention is for a much higher rate of job saving/creation to prevail in the months running up to the 2010 Congressional elections.

  14. Fukken uber ROI. Math iz gud.

  15. But how many people recognized that title is lyrics from a Who song?

    Over 50%, I’m sure, but despite the title there isn’t any easy link (that I can see) between the lyrics and snarky comments about the stimulus.

    “I’d gladly print cash to hire you
    I’d gladly give up all the US had.
    To employ you, they’ll suffer anything for the bread.

    I’d pay any price just to work you
    You’ll toil all your life to pay the bill.
    To hire you, your kids’ future is now dead.”

    Best I can do, which (I know) is not saying much.

  16. All signs — from private estimates to this fragmentary data the entrails of a goat to the Tarot cards — point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months, a much needed lift in a very difficult period for our economy.

    FIFH

  17. I’d pay any price just to work you
    You’ll toil all your life to pay the bill.
    To hire you, your kids’ future is now dead.”

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