The White House Council of Economic Advisers said Thursday the $787 billion stimulus plan kept one million people working who would otherwise not have had jobs.
You wouldn't let me stand up and make the simplistic claim that these million jobs were saved at a cost of $787,000 per job without challenging the details of my accounting, would you? Surely, reality is more complex.
But when the White House Council of Economic Advisers calculated the number of jobs saved by our government's massive stimulus spending, how is it that they entirely neglected to account for the impact on employment of removing $787 billion dollars from the balance sheet of the private economy?
What kind of single-entry bookkeeping is this? Who are these experts so willing to make glib claims with a straight face? How is it that the press, politicians, and pundits credulously report these claims as facts? And why are those who question whether the emperor is wearing any clothes treated like obstructionist members of some lunatic fringe? READ MORE...
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