Obama’s Failed “Stimulus” Didn’t Create Jobs – Only Stole Jobs From Other Companies
We can now see that the Obama administration and Democrats have been lying about Obama’s wealth-spreading “Stimulus” creating jobs, when in reality, Obama’s failed job-killing, wealth-spreading “stimulus” didn’t actually create jobs for the unemployed. The “stimulus” only stole workers from other companies where they were already employed.
…The Mercatus Center at George Mason University has just released an important new study on the hiring practices of firms that used stimulus funds. It’s fairly comprehensive, based on over 1,300 surveys of managers and employees. There’s been very little good empirical data on the stimulus thus far, so the study contains a lot of valuable insights. Among the findings by authors Dan Rothschild and Garrett Jones:
Hiring isn’t the same as net job creation. In our survey, just 42.1 percent of the workers hired at ARRA-receiving organizations after January 31, 2009, were unemployed at the time they were hired (Appendix C). More were hired directly from other organizations (47.3 percent of post-ARRA workers), while a handful came from school (6.5%) or from outside the labor force (4.1%)(Figure 2). Thus, there was an
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