citation needed ...
because the broken window fallacy still holds
Using the Obama administration's own numbers, a couple years back, for how much they spent for each job "created or saved", and taking the US median income at the time for the cost->jobs destroyed estimator, I got about a 5:1 ratio. Five destroyed for each "created or saved".
Or more: Thats what would happen if they got the money by taxation. The other options are still worse.
The problem is that the VALUE for the government spending comes out of the economy somewhere else:
- If they tax it, they just suck it out directly.
- If they borrow it, it competes for investment money and real job creators don't get to create real jobs and/or have to close or downsize when their funding dries up. (This has an additional multiplier: They have to pay it back, with interest. So it kills still more jobs later.)
- If they print it, it devalues the other currency. The same number of dollars are spent, but less value is spent. Less jobs are funded as a result.
Unfortunately, the anonymous flaimng lefties only see the obvious jobs "created or saved" and not the "invisible men" laid off or not hired as a result.