Glenn Reynolds links an article which reports that First Hard Stimulus Data Finds Only 30,000 Jobs Saved or Created.
The Administration, however, cautions that this “data was partial — it represented just $16 billion out of the $339 billion awarded — but they said it exceeded their projections.”
Let’s see how much that is per job created (or saved). When we divide $16 billion by 30,083, we get about $531,861.85 So, in the seventh months since the “stimulus” passed, the federal government has spent over half-a-million dollars for each new job, er, and, each job that might otherwise, just possibly have been lost.
UPDATE: It exceeded their expectations that they would spent half-a-million dollars for each new job created or saved. That’s government efficiency for you!
*I corrected the original figure in the title because I initially divided $16 billion by 30,000, leaving out 83 jobs. I have since added them back in to my calculations.