Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Was Stimulus Spending an Inefficient Way to Create Jobs?

Details

  • Description

    FBN’s Lou Dobbs on the costs per job of Obama’s stimulus package.

  • Duration 3:49
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- started out with a near trillion dollar stimulus package.

Was the biggest most careless onetime expenditure by the federal government and history.

And remember this.

The stimulus wasn't just wasted.

It was borrowed and wasted.

We still all the money.

Governor Romney's slamming president Obama's economic stimulus package harsh words -- -- years in a new congressional.

Budget office report show that governor Romney has a point.

When the president's stimulus package was being considered on Capitol Hill the Congressional Budget Office.

First estimated that it would cost 787.

Billion dollars between 2009 and 2019.

Well of CBO is now projecting the stimulus will be a little higher you'll actually cost about.

Forty billion dollars more 831.

Billion dollars the stimulus.

I mean it's.

And as I often say here it's close enough for government work 831.

Billion dollars.

-- Because of that stimulus the number of people employed in this country.

Rose.

Now these are -- CBO.

Estimates now are.

If you can't make this stuff -- the Congressional Budget Office estimates.

That the number of jobs created in this country rose from two.

100000.

I'm Romans is right about that.

21.

And a half.

Million.

-- -- -- Now it.

That's quite are quite arranges and it.

Government it seems when spending almost a trillion dollars of -- money might get a little more exact.

But let's let's take that -- there word with a range that there is basically well seven acts.

And and interpret what that means.

In terms of jobs it means -- cost per job.

Created as a result of the stimulus program is anywhere.

From 540000.

Dollars.

-- This is per job.

To more than.

I'm just gonna write -- down but the numbers are fascinating thing.

-- Million dollars.

Her job depending on whether it's 200000 to a million and a -- either way creating those jobs.

Was not exactly the most efficient.

And productive use of taxpayer money.

But -- this is the same stimulus package that the president said would create.

Well what you put it was for the first time -- we heard this language save or create.

Three and a half million jobs and keep unemployment below.

8%.

I won't comment on what actually happened.

But we will if we may pick the government and its word the somewhere between 200000 and a million I have jobs are created.

And that.

At its most efficient.

Government only spent over half a million dollars per job.

To create.

Somewhere between 200001.

And a half million jobs.

This is going to be a tough record I believe for this president to defend.

Unless the CBO can come up with a new appendage.

Appendix to it's first report.

We'll see what --

Load More