Obama’s Top Economists Reveal Hefty Price Tag For Failed Stimulus Debacle

Since liberal DNC Chairman Tim Kaine became the number-one cheerleader on behalf of President Barack Obama’s $787 billion stimulus, America has lost nearly 1.9 million jobs and our national debt has skyrocketed to a record-high $14.3 trillion.  Now, President Obama’s own top economists estimate that the Obama-Kaine stimulus debacle cost taxpayers an average $278,000 per job.

As the Weekly Standard notes:

The report was written by the White House’s Council of Economic Advisors, a group of three economists who were all handpicked by Obama, and it chronicles the alleged success of the “stimulus” in adding or saving jobs. The council reports that, using “mainstream estimates of economic multipliers for the effects of fiscal stimulus” (which it describes as a “natural way to estimate the effects of” the legislation), the “stimulus” has added or saved just under 2.4 million jobs — whether private or public — at a cost (to date) of $666 billion. That’s a cost to taxpayers of $278,000 per job.   In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and taxpayers would have come out $427 billion ahead.

Notably, Kaine’s love of wasteful deficit spending in Washington stands in stark contrast to his campaign rhetoric as he attempts to cast himself as something other than a tax-and-spend liberal in the hopes that Virginians will forget his record as DNC Chairman.

“Tim Kaine will have a tough time finding many Virginians who agree with him and President Obama that it was a good idea to spend $787 billion to lose 1.9 million jobs, or that it’s somehow reasonable to spend $278,000 in taxpayer money for each temporary stimulus job he now touts,” said National Republican Senatorial Committee (NRSC) spokesman Chris Bond.  “Virginians are not going to forget that Tim Kaine has spent the last several years as the cheerleader-in-chief for his party’s failed economic policies and reckless deficit spending in Washington.”