The White House today, proudly announced that the Stimulus Bill and the funds disbursed because of it have created (or saved) 640,000 jobs.  The White House claims that this is based on some $150 Billion in spending, or, about $234,000 per job.  As a side note, they say that there have been $339 Billion drawn down from the $787 Billion Stimulus Act to date.

Let me get this straight.  First, we must assume that the Stimulus Act has actually been responsible for creating or saving 640,000 jobs.  Then we must accept that these jobs have been created by spending $150 Billion of the Stimulus Funds.  That works out to $234,000 per job.  Seems a bit much, doesn’t it?  I’m guessing the job holders aren’t getting close to that amount.  But wait.  The White House also says that $339 Billion of the Stimulus Funds has already been doled out.  So doesn’t that mean that each job “stimulated” actually cost $529,687.50?

Oh, I see.  Of the $339 Billion, over 10% ($35 Billion) was spent by the Department of Health and Human Services and was actually transfer payments.  And another over $30 Billion went through the hands of the Labor Department, and $22 Billion through the hands of the Department of Education, etc.  Transportation, remember “shovel ready” and “infrastructure”, got to spend almost $4.5 Billion.  Check out the list and see where your money went.  I don’t know about you, but when I see three times as much money going to the Social Security Administration as to Transportation, I start to think that there may be a bit of pork in this spending and maybe all the talk of “shovel ready” projects was a bit disingenuous.

Now if the government would send me $234,000 (or $529,000) I’d create a few new jobs right now and still have a little left over for my own entertainment. I bet you could do the same thing.  Am I the only one who would fire anyone who worked for me who spent $234,000 to create a $40,000 per year job?  Come to think of it, I do employ these people.  Think I’ll fire as many as I can next November.