More On Those Saved And Created Jobs

Patterico gets out his calculator:

The preliminary Stimulus numbers are in and the folks in the Obama Administration say it exceeded their expectations:

Of the $787B stimulus package, $339B has been awarded and the first $16B reportedly created 30,083 jobs.

Calling all math majors: I think that comes out to more than $530,000 per job. If so, we know from earlier reports that most of the jobs saved were government jobs, particularly schoolteachers. How many schoolteacher’s jobs should we be able to save for every $530,000 spent?

$16B of $339B is 4.7% — the Administration apparently rounds it to 5% — and the White House recovery office projects the remaining funds will create jobs at the same rate.

Really? Okay.

“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.”

Let’s see if we can duplicate that calculation:

16B/339B = 30,083 jobs/? jobs
? jobs = 30,083 x 339B/16B = 637,383 jobs

I guess that was a rough calculation.
Of course, if all $787B is disbursed it would theoretically yield 1.2M jobs … although there’s no way the jobs could be saved or created by September even if all the job creation numbers look like these. Hopefully other jurisdictions used their funds more efficiently so $530,000 will save 2 or 3 jobs. Then again, maybe they didn’t.

Even if these numbers hold up, and even if all these jobs are legitimate...how does 1.2 million jobs fulfill his promise of 3.5-4 million jobs created?  We've already lost more jobs in the past nine months than Obama's numbers will 'create'!


It's time we end the charade and put this money back toward the deficit.  Let's right this ship before it completely capsizes.


There's my two cents.