Broke into a Crested Butte, Colorado, ski resort and ate everything edible in sight. Which consisted of one full 24 count case of EX-LAX. Bruin ate 240 pieces of the “one delicious square a day laxative.” With the results you could expect.
When the shocked resort owner returned in early September to make ready for the season, he found the resort in “uninhabitable condition.” It cost more than $100,000 to clean the resort up and repair the damages.
I mention this because the Administration is trying to claim its stimulus has “saved or created at least 650,000 jobs.” If true, that would “just be” a staggering $1,169,230.77 for each job “saved or created.” Staggering because I can create a full time job for around two percent of that.
But as I might have led you to suspect, there’s a little problem with that “650,000” jobs number.
Starting with the fact that independent job surveys found just over 30,000 jobs “saved or created” by the stimulus. More commonly known as “Pelosi’s Porkulus,” or the “Generational Theft Act.”
Add to that the fact that 1,800,000 people enter the labor market each year. So we need 150,000 NEW jobs each month just to stay even. But we have had negative job creation. By around 3,500,000 jobs. That makes us 5,300,000 jobs short of break even. Now, add another 1,200,000 people who have gotten discouraged and left the job market in the last 10 months. We are down a full 6,500,000 jobs since January.
That fact is reflected in the Treasury’s employment tax collections. Payroll taxes, FICA, Medicare, Social Security are all down by the same percentage. For the last quarter, payroll taxes were down 10.1%
With the total labor pool estimated at 150,000,000 people, that represents a loss of 15,150,000 jobs!
So the joker who wants to claim the Generational Theft Act has “created or saved 650,000 jobs” really should take the same cure as that Crested Butte bear.