President Defends Stimulus Cost

After the Congressional Budget Office issued estimates that the jobs “created” or “saved” by the federal stimulus program cost between $200,000 and $500,000 apiece, President Obama stoutly defended it. “Those figures are just averages,” Obama argued. “The implication that every job was this costly is an unfair inference. Many of the jobs created were in the low income range, but the average was ballooned upward by the necessity to save expensive jobs on Wall Street and in corporate management. Over all, we provided opportunities across a wide spectrum of social classes, not just for the ‘six-figure’ guys.” “And let’s not...