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Rating President's Stimulus Plan

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  • Description

    Report shows inefficiency of program

  • Duration 2:29
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Disputing the findings from a report depicting President Obama stimulus program.

As hugely inefficient senior White House -- affairs correspondent Wendell Goler looks at the numbers.

And what they mean.

Based on a government report late last week on stimulus spending and job growth the conservative weekly standard concludes we're spending 278000.

Dollars a job.

The report says 666.

Billion in stimulus spending quote has saved or created between 2.4 and three point six million jobs.

Using the lower figure the standard says just giving people a 100000 dollars each could have saved more than 450.

Divided by three point six million still comes out 185000.

Dollars a job but the White House says the math doesn't work that way.

The report is based on.

Partial information and simply false analysis as as you know that Recovery Act is meant to do much more than just create and save jobs administration officials say because the stimulus bill was divided roughly -- thirds between infrastructure spending.

Tax cuts and extended unemployment benefits and aid to states and -- steadily and in direct impact on job creation at a cost per job figure can't be calculated.

Still former labor secretary Elaine Chao says the problem is the impact of the spending was only temporary.

Clearly this stimulus package was not effective in the long term.

It did not give long term confidence to consumers not to employers.

At a meeting of his Competitiveness Council last month President Obama admitted the stimulus projects didn't start as fast as he did like shovel -- -- -- -- The -- already expecting.

A Georgia Tech study suggests the stimulus money could have been better targeted.

Nevada where the jobless rate is more than 12% got less money per capita than North Dakota where fewer than three and a half percent are unemployed.

Still the country was losing 700000.

Jobs a month when congress debated the stimulus bill and Honeywell CEO says it may have saved us from a second depression.

And I likened it to the curtain was running off the cliff and you had to fire were shot now you might kill the -- in the process or some -- that charge should go on this way.

But you had to stop the -- from running off the cliff.

Some liberals say the stimulus bill was too small and based on the weekly standard's figures we could've bought a 5% unemployment rate.

For another roughly one to one and three quarters trillion dollars but White House officials say the stimulus bill created roughly what they said it would.

And roughly what they predicted it would cost -- -- Google -- in the north -- Wendell thank you.

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