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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
― Friedrich von Hayek

I can create a job for a million bucks

Here’s some remarkable data I just ran across on a Web site about the Albuquerque’s government finances. According to a table there, reproduced below, Albuquerque received $591 million dollars from the federal stimulus package.

That’s a pretty staggering number all by itself. Half a billion dollars just for Albuquerque. In fact, I’m not even sure how it fits in, considering that Albuquerque’s entire budget runs “only” about $800 million a year, according to the same site.

But the really remarkable thing is the jobs figure provided. I seem to remember that the stimulus was about “creating jobs.” And Albuquerque’s stimulus money did create jobs, they say. 596 of them.

That’s a million dollars per job.

Give me a million dollars and I’ll hire two people! Double your return! Hell, I’ll hire three! Where do I sign up?

Stimulus

Albuquerque has received $591,525,791 from the stimulus package.

Type # of Awards Amount Jobs Reported
Contracts479$202,584,279138.64
Grants412$387,441,511453.01
Loans2$1,500,0004.5
Total893$591,525,791596.15

—From Sunshine Review

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