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FOX NEWS: Granholm's $1.2 million for 42,000 jobs saved

February 21, 2010 – Comments (1)

Did I hear this correctly?  Governor Jennifer Granholm was just on Fox News this evening during the 6:00 - 7:00 pm. hour regarding Michigan and Mississippi's impact from the Stimulus funds.

No brainer that Governor Jennifer Granholm is giggling like a school girl in favor of the Stimulus package.

But... Let's put things into perspective....  She was talking about 42,000 jobs having been created in Michigan from all of the Stimulus investments done last year as being a sign that the Stimulus Package was a success....

Hmm.. What exactly is the cost of all of the stimulus as it relates to Michigan?

$50 Billion =  General Motors  /  Chrysler - Fiat    Rescue
$1.3 Billion Battery Grants =  Split among GM, Chrysler, Ford.

Now if you forget about the $50 billion and just zero in on the $1.3 billion you get:

$30952.38   per job.

Sounds reasonable.... but what about the $50 billion rescue package to General Motors?
Now we have $1.2 million per job for that $50 billion....

Another way to look at it is right here:

http://www.milmi.org/admin/uploadedPublications/463_econsit.htm

Regardless of how many jobs "Saved or Created" from these 2 big billion dollars investments....
The fact is that the employment situation dipped from November - December by only .4% statewide.

And the real KICKER is much of the improvement in employment centered around the BIG 3 that were recipients of the BILLIONS.    Check out the Detroit - Warren - Livonia chart in my above hyperlink.  Then scroll down to FLYNY, Grand Rapids, etc.

Notice a pattern?    November to December 2009 showed a net INCREASE in unemployment in many areas of the State of Michigan..... while the big 3 getting stuffed with Billions of Taxpayer money experienced some job hiring...

End result is a net +4.4% unemployment versus December 2008  (year over year) and litterally no improvement month to month in the employment picture for Michigan except as it relates to the
BIG 3 automotive counties.

And Governor Jennifer Granholm calls this a success??????  he he he giggle giggle he he he???