Is the President's Stimulus a Success?

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The Institute for Policy Innovation’s Dr. Merrill Matthews says it depends on what one mean’s by success.

President Obama says his $787 billion stimulus package is a huge success.

Even though the economy’s lost more than 2 million jobs, the administration boasts that federal contractors who received $16 billion in stimulus money have created or saved 30,000 jobs.

As the ProPublica website points out, that’s spending more than $500,000 per job.

Hey, where do I sign up?

The administration also claims that for every direct job, an indirect job has been created or saved. So maybe 60,000 jobs.

Democrats now say the first stimulus was such a success they may want to do another. But if the first one had really created jobs, we wouldn’t need a second.

‘These weekly SoundBytes commentaries are produced by the Institute for Policy Innovation (IPI), a non-profit public policy think tank. We welcome your comments and feedback.’

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