Like most Americans, I have been disappointed in the so-called "stimulus bill's" dismal effect on employment. I voted against the bill because it cost too much and I did not believe that it would create the jobs that were promised. I take little pleasure in being correct.
The Obama Administration recently released a report claiming that approximately 640,000 jobs had been "created or retained" since the $787 billion "stimulus bill" was enacted. That number is an embarrassing contrast to the some 3 million people that have been added to the unemployment rolls during the same period. A closer look at the numbers yields data that is simply laughable.
In an attempt at transparency, the Obama Administration has set up a website where you can review the "stimulus bill's" so-called results first hand (www.recovery.gov). I took a gander at the site, focusing on Ohio and the 2nd Congressional District, in particular and had some great laughs. It quickly became clear that the site is at the very least wildly inaccurate if not one of the funniest government reports ever published.
According to the site, more than $1 billion dollars has been awarded in the 1st District -- the portion of Hamilton County roughly west of I-71. All of this alleged spending created or saved a total of 349.7 jobs.
It is hard for me to imagine which is more unbelievable, the fact that the Administration awarded more that $1 billion of stimulus money to half of Hamilton County; or, the fact that each of the jobs created or saved cost more than $3 million.
I know quite a few people that would give their current job to someone else in exchange for far less than $3 million.
I am reasonably certain that we would have noticed a billion dollars being spent in western Hamilton County. The Administration simply has its numbers wrong.
On the other side of Cincinnati, the Obama Administration claims to have spent some $191.5 million to create or save 146.6 jobs -- around $1.3 million per job. Even with government math, I just do not believe these numbers are anywhere near true.
A closer look at the website reveals even more alarming "facts." The Obama Administration has spent more than $5 million dollars to create or save eleven jobs in ten Ohio Congressional Districts that simply do not exist. For instance, the fine folks living in the 21st District got more than a million dollars while the folks who live in the 56th District got only $12,000. The problem is we have only 18 congressional districts in Ohio.
I wish Ohio were the only state where math and reality do not add up. Many of my colleagues are reporting similar exaggerations. Now, Speaker Pelosi is talking about another "stimulus bill." The people of Ohio's 56th Congressional District may support such a bill; after all, they virtually got overlooked the first time around.
Seriously, I think it is time to recall the stimulus funds that have not been spent before the Chinese start charging us interest.