Wisdom from Chicago Boyz.
In a recent meeting, my boss made the obvious but true point that it would make no sense for us to hire someone who would provide $0.90 worth of value per $1.00 of cost. In a similar vein but from a consumer perspective, I would never spend $1.00 on a candy bar that I valued at $0.90 (trivial prices aside).
I assume the New York Times would agree that the above logic makes sense. So then why do they invoke government to do the exact opposite at taxpayer's expense?
The stimulus bill was $787 billion. The bill is estimated (by Obama administration) to "create" 3 million jobs. Forget the fact that these jobs are all temporary and for the most part are involved in sectors of the economy that see very little current demand, and thus will provide very little short-term value (and more likely than not long-term as well). The fact is each job will cost taxpayer's $262,333.33 per job.
How again does this make sense?
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