Treasury Secretary Timothy Geithner didn’t dispute a Harvard economist’s estimate that each job in the White House’s jobs plan would cost $200,000, but said the pricetag is the wrong way to measure the bill’s worth.
And he also pointed out, in an interview today with ABC News’ David Muir, that there is no other option on the table for getting the economy moving and putting more people back to work.
“You’ve got to think about the costs of the alternatives,” Geithner said when asked about Harvard economist Martin Feldstein’s calculation that each job created by President Obama’s American Jobs Act would cost taxpayers about $200,000.
“If government does nothing, it does nothing now because they’re scared by politics or they want to debate what’s perfect, then there will be fewer Americans back to work, the economy will be weaker,” he said.
Exactly how much will that one job pay and how long will it last?
Because I’m thinking we take that same money and use it to put unemployed people to work digging holes and filling them in for $25,000 a year and create eight times as many jobs.