The Senate today easily approved a $15 billion Democratic plan to try to spur job creation, as lawmakers hastened to demonstrate that they were taking steps to improve the nation’s employment picture.Unemployment is in the 10%. As of January, 2010, there were 20 million people unemployed. This job creation bill seeks to remedy that by spending an average of $750 per person unemployed. Contrast that, if you wish, by the tax breaks that states give to new factories for foreign auto companies, one town offered over $400,000,000 in tax breaks for a Kia plant that might directly create 2,500 jobs.
The vote was 70 to 28. Thirteen Republicans joined 55 Democrats and two independents voting in favor.
If you apply the Kia math, the Senate jobs bill will create maybe 94,000 jobs. That's better than nothing, but it is putting back to work less than one-half percent of those who are unemployed.
Second, note that at least eight Republicans, who voted to block this bill, ultimately voted for it. That took real political courage to come out and vote for a bill that they tried to kill procedurally, of the "Brave Sir Robin" variety [sarcasm OFF].
I'm not following your math here. $50k for 2.5k jobs is $200/job. At $200/job, $15b would be 75m jobs.
ReplyDeleteYeah, I really fucked up the math.
ReplyDelete