Lawrence Summers: "We Created 30,000 New Jobs with Stimulus" Whoopie!

National Economic Council Director Lawrence Summers told CNBC Television that Barack Obama's $787 billion "stimulus" package has created 30,000 jobs so far.

President Barack Obama signed a US$787 billion stimulus package into law earlier this year, and Mr Summers said the first US$16 billion spent created more than 30,000 jobs.

Sixteen billion dollars spent results in ONLY 30,000 jobs, and the administration is bragging about it! This spending works out to more than a half-a-million dollars per job created! And it took more than six months to do it!

At that rate, the full $787 billion will gin up a whopping 1.5 million jobs! Who says that massive government spending won't pull a country out of recession.

Since the start of the recession in December 2007, the number of unemployed
persons has increased by 7.6 million to 15.1 million, and the unemployment
rate has doubled to 9.8 percent.

Well, thank goodness Obama spent that $16 billion we don't have. Otherwise, we would have had 15.1 million and 30,000 people unemployed.

How is Hope and Change working for you?