Tortured Logic: $40 billion will create 1 million jobs!
In today’s Paul Krugman article, Paul Krugman references an Economic Policy Institute article that says that $40 billion will create 1 million jobs.
Let’s see how many jobs the $787 billion stimulus package created, according to the administration: 600,000. (Coincidentally, the same number of jobs Obama projected it would create.)
Here’s from the EPI report:
A $40 billion investment in public service employment would employ an estimated 1 million people.
Wait, so why did we spend $800 billion on stimulus, when we could have created much more jobs with $40 billion?
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