Friday, October 16, 2009

$120 Million in stimulus spending creates 370 jobs

I called this one a long time ago. Stimulus packages only stimulate government, not the economy. 

From Ann Arbor Business

The 397 jobs created or saved in Michigan come from $120 million in contracts, amounting to a cost of about $300,000 per job. But contract spending is only a sliver of overall stimulus spending, with most of the money going to direct grants for state and local governments and school districts, tax breaks, loans and other programs, the Detroit Free Press reports

$300,000 for each job? That sounds like what we can expect from government waste.

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