Barack’s economic plan: it gets worse…
So, we are thinking perhaps it might help if we broke down Barack’s $775 billion jobs package.
$193,750 per job: The first thing to note about the package are some serious dollar figures: the $775 Billion will create 4 million jobs at a cost of $193,750 per jobs.
Most will add zero to your standard of living: Of these 4 million jobs, about thirty percent will be jobs that produce a real product – a house, or car, or bridge. Seventy percent of the jobs created will produce nothing.
Low wage jobs: Thirty percent of the jobs have been identified by Barack’s economic team to produce jobs paying less than $15 per hour, or, less than $31,200 per year. The $193,750 spent on creating each of their jobs could have supported these workers for six years.
Above average wage jobs are not impressive either: The economists estimate the green energy jobs created by the package will produce above average wages of about $18 per hour, or, about $38,000 per year. The $193,750 spent to create these jobs could have supported these workers for just over five years.
The plan will increase your cost of living: Since the only predicted real economic output generated by this plan is produced by about thirty percent of the re-employed labor force, the remaining new service jobs are overhead, including government employment – adding to the costs of doing business while providing nothing in return.
Conclusion: The last statement implies whatever permanent green jobs are produced by the plan will likely end up being outsourced to low wage countries almost immediately.
This plan is not a serious alternative to reducing working time – it is a scam designed to make you feel comfortable so you will go back to chasing sales at Target and Wal-Mart, and racking up the digits on your credit cards.
To Jared Bernstein: You are one worthless piece of shit for appending your name to this garbage.