According to its own shovel-ready recovery numbers, the nearly 11-month-old Democratic administration claims to have created 640,329 good old American jobs so far this year by spending $157.8 billion of that stimulus money.
Now, that works out to a cost of $246,436 per job created, according to figures dug up by the eagle-eyed James Pethokoukis over at Reuters.
Total compensation earned by the average American payroll employee during the month of October would be $59,867 on an annualized basis, Pethokoukis reports. That’s only 24% of the nearly quarter-million-dollars it costs the federal government to create that spot.
Had Obama and Biden simply handed out 60-grand as a year’s salary, they could have paid for 2.6 million jobs, four times as many as they’ve actually created.
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