In February, the Congressional Budget Office published its latest report on the “estimated impact” of the stimulus. Although it had originally estimated the stimulus would cost $787 billion, CBO now says it will cost $831 billion.
In the second quarter of 2012, CBO estimates, somewhere between 200,000 to 1.2 million people have jobs they otherwise would not have were it not for the stimulus. Assuming, optimistically, that the number is 1.2 million, that means each of those jobs cost taxpayers $692,500.
Taxing or borrowing $692,500 from the private sector to create a single job is simply not a cost effective way of putting America back to work. The long-term debt burden of that $692,500 swamps any benefit that the single job created might provide.
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