Barack Obama went on national television yesterday to insist that his jobs bill would add up to economic growth. CNS News points out that the math itself doesn’t add up:
At a White House press conference on Thursday, President Barack Obama said the legislation he has proposed to create jobs could “grow the economy as much as 2 percent.” However, the White House estimates that the plan itself will cost $447 billion — or 2.97 percent of the 2011 GDP of $15.012 trillion that is currently projected by the federal Bureau of Economic Analysis. (See chart: GDP Chart from BEA.xls.)
Let’s spend 3% of our GDP in order to get 2% back! That sounds like Obamanomics, all right. And it also sounds like a better deal than we got from Porkulus I, when we spent nearly 6% of our GDP in order to get, er, almost nothing back.
“I saw the Holy City, the new Jerusalem, coming down out of heaven from God, prepared as a bride beautifully dressed for her husband. And I heard a loud voice from the throne saying, “Look! God’s dwelling place is now among the people, and he will dwell with them. They will be his people, and God himself will be with them and be their God. ‘He will wipe every tear from their eyes. There will be no more death’ or mourning or crying or pain, for the old order of things has passed away.”” -Revelation 21: 2-4 
Powered by BibleGateway.com
Powered by BibleGateway.com
No comments:
Post a Comment