Wednesday, February 03, 2010

Yikes

When the real data got compiled, it turns out the recession was worse than previously reported- 824,000 fewer jobs.

So if the stimulus saved 650,000 jobs as reported by the Obama administration in December, but the jobs numbers were miscalculated by 824,000...does that mean we did the stimulus in order to lose 175,000 jobs?

Very confusing.

I suppose the logic is that without the stimulus, there would be 650,000 fewer jobs. Per the article, each job cost the Federal government $248,000. Personally, if I had the option, I'd take the $248,000 to ride out the economic storm rather than a job...

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