Stimulus Cost: $1.5 million per job
The first round of stimulus reports are in, and the results are not comforting.
According to recovery.gov, 146 jobs have been created in South Carolina as a result of the stimulus. At a grand total of $219,560,000.
That’s a whopping $1,503,835 per job.
This remarkably high figure is worth repeating.
$1.5 million per job.
How’s that for “government efficiency”?
Think of what local business owners could have done with $219,560,000. How many jobs the private sector could have created.
According to economists, every time government spends more money, it actually shrinks the private sector. Some estimates show that for every $1 government spends, the private sector shrinks by $0.20 cents.
That means that so far the federal stimulus has actually shrunk SC’s economy by $43,912,000.
When government tries to grow the economy, it’s like taking $1 from your left pocket and putting it in your right pocket – only during the transfer, you drop two dimes on the ground.
southcarolina1670
Geoff Pallay
Jameson Taylor
Jamie Cordova
SC Policy Council
kinneyet
That is great information – proved what y’all have been saying all along – that the stimulus was a sham. Thanks for staying on the story and thanks for the word picture of the dollar and the two dimes. Great stuff.
Joshua Gross
October 19, 2009 at 3:44 pm
[...] Economic development: Every time the state spends $1 on economic development, it destroys 20 cents in the private sector. Members of the General Assembly are often engaged in activities they say [...]
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