In a July 6 Washington Times column headlined, "Obama punks America," Ted Nugent promoted the figure that the stimulus cost $287,000 per job to claim that "when the stimulus dust finally settles and the truth shines through, the American taxpayer will have been fleeced for almost the entire trillion-dollar stimulus." Nugent further wrote: "The insane punking of America punks on."
As Media Matters has noted, simply dividing the amount of money spent by the number of jobs created is, according to an Associated Press fact check, "highly misleading," and economist and Nobel laureate Paul Krugman has called this math "bogus."
From Nugent's column:
President Obama's very own Council of Economic Advisers has released a scathing report on the impact of his near-trillion-dollar economic stimulus package. Its analysis: Each job created or saved cost the American taxpayer a whopping $287,000.
The insane punking of America punks on.
My own gut-check economic analysis is that when the stimulus dust finally settles and the truth shines through, the American taxpayer will have been fleeced for almost the entire trillion-dollar stimulus.
What we are witnessing is an economic train wreck, and Mr. Obama is the willful engineer. Learn your lesson well, America. Never allow Fedzilla to do what the free market can and should do and is able to do much cheaper and more efficiently. Until then, enjoy your fleecing.