President Obama must be grinning from ear to ear. not only has the news reported yesterday that Senate Majority Leader Mitch McConnell is scheming to raise the debt ceiling with no real spending cuts, but if this plan goes through, Senator McConnell will have handed yet more power over to the Executive Branch. It seems […]
The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.
The national debt has passed another historical milestone, topping $14.3 trillion for the first time ever, according to data released by the U.S. Treasury late Monday afternoon.