How many jobs could your workplace create for $222,000? Assuming you paid the full cost of the job for one year, the number might be 8 if you work in a restaurant. The number might be 4 if you work in a factory or office. The number President Obama can create for $200,000 is only 1.
(ABC News) — Treasury Secretary Timothy Geithner didn’t dispute a Harvard economist’s estimate that each job in the White House’s jobs plan would cost $200,000, but said the pricetag is the wrong way to measure the bill’s worth.
And he also pointed out, in an interview today with ABC News’ David Muir, that there is no other option on the table for getting the economy moving and putting more people back to work.
“You’ve got to think about the costs of the alternatives,” Geithner said when asked about Harvard economist Martin Feldstein’s calculation that each job created by President Obama’s American Jobs Act would cost taxpayers about $200,000.
“If government does nothing, it does nothing now because they’re scared by politics or they want to debate what’s perfect, then there will be fewer Americans back to work, the economy will be weaker,” he said.