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October 14, 2009 – Comments (7)

 $1 Billion in Federal Spending would create;

Military, 11,600 jobs

Personal Consumption, 14,800 jobs.

Clean Energy, 17,100 jobs

Healthcare, 19,600 jobs

Education, 29,100 jobs.

http://www.fpif.org/pdf/0910Jobs_report1.pdf 

The US Military budget was $624 billion in 2008. Approximately.

7 Comments – Post Your Own

#1) On October 14, 2009 at 9:11 PM, starbucks4ever (97.92) wrote:

And we already spent like 3 trillion and printed another 3. Congratulations, obama and bernanke! Unemployment has now been liquidated as a result of your heroic measures! Every American is now gainfully employed! The recession is over! Time to bring the funds rate back to normal!

:):):) 

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#2) On October 14, 2009 at 11:48 PM, fmahnke (90.19) wrote:

Can't you see how big gov't is squeezing out the real private sector ecompny and is unsustainable ?

Let's do Cap & Trade and will create 1m GREEN jOBS!!  What happens to the 10M private manufacturing and old energy jobs that go oversees further shifting the balance of ecomonic power.

Keynes lived in a different world, where international business was more more difficult to manage logistically,  The best thing about this administrations economic policies is that they won;t last long

I'm am not a republican. but will be happy to see them pick up these two govenor races next month and the majority of the House next year as this "progressive" administration is killimg our middle class and our economy.  

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#3) On October 15, 2009 at 6:53 AM, devoish (98.44) wrote:

Can't you see how big gov't is squeezing out the real private sector ecompny and is unsustainable ?

No. There is a group of people who like to say the private sector is the "real" economy. They attribute all kinds of wonderful things to the "real" economy. Like research and development to the drug companies, but the truth is, taxes support far more R&D. Like innovation, but again, taxes support far more R&D.

The Gov't beaurucrat has proven he can make far better investment decisions than the private investor.

Sorry to shatter the bubble.

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#4) On October 15, 2009 at 7:54 AM, whereaminow (21.88) wrote:

I like making up numbers too. Can I play?

If I spend $62 trillion, it will create:

38,000,000 new jobs in the cigarette rolling industry

74,000,000,000 in the medical and non-medical marijuana industry

62,000,000,000,000,000,000 in the armorments industry

and

137.385,039,394,257,834.024,891 jobs in the bubble gum industry.

Yay, me!

David in Qatar

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#5) On October 15, 2009 at 8:35 AM, AbstractMotion (53.66) wrote:

In the future I'd consider making the comparison a bit clearer devoish, to make it clear that 1 billion wouldn't create all those jobs at the same time.  The article makes it clear enough, but it's still a relatively poor ROI given the number of direct jobs estimates suggest the private sector could create given the same amount of money(study did not include "induced" estimates).

Link 

 

I find it highly unlikely any spending going through congress would be perfectly optimal either, likewise I'd imagine given the source that those numbers are probably pretty optimistic in their own right.  Even so they're far behind numbers for private sector creation.  Don't get me wrong I'm for spending on things that do have a good long term return on investment like the NSF and more education spending at the national level, but I don't think it'd be nearly as effective as a thriving private sector.

 

Regarding the idea that innovation doesn't happen in the private sector, that's kind of ridiculous.  It's true that a lot of scientific research does happen through public funding, but a fair amount happens through private grants too.  On top of that there's a huge difference from theory and practical application, which is what happens in the private sector.  A product doesn't have much use if it can't be mass produced at a good price these days.

 

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#6) On October 15, 2009 at 4:08 PM, devoish (98.44) wrote:

Abstract, Thanks. I stand corrected.

$1 Billion in Federal Spending would create;

Military, 11,600 jobs or,

Personal Consumption, 14,800 jobs or

Clean Energy, 17,100 jobs or

Healthcare, 19,600 jobs or

Education, 29,100 jobs.

http://www.fpif.org/pdf/0910Jobs_report1.pdf 

The US Military budget was $624 billion in 2008. Approximately.

My apologies to all.

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#7) On October 15, 2009 at 4:51 PM, Melaschasm (54.64) wrote:

If government spending creates jobs, then why not spend $100 trillion in 2010, so we can all have high wage jobs?

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