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Biden infrastructure plans could cost a projected $225,000 per job created through 2031


Geee
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Just the News

The White House and Democratic leaders are touting a Moody's Analytics report on President Biden's Build Back Better agenda and the bipartisan infrastructure framework, which the organization estimates will "contribute to the creation of 14.4 million more jobs during his term and 20.1 million through the end of 2031."

 

 

"According to a new report from Moody’s this morning, the president's bipartisan infrastructure framework and Build Back Better agenda will add almost 2 million jobs per year on average across the whole decade, while accelerating America's path to full employment and increasing labor force participation," read a White House press release on Wednesday. :snip:

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@Geee

We've Seen This Movie Before.

 

White House Promise

Estimates of the Overall Jobs Effects of the ARRA of 2009

Jobs Created in 2010Q4 3.5 Million
Job-Years Created through End of 2012 6.8 million

 

Reality

Today, 12.8 million Americans are unemployed, 8.2 million cannot find enough work, and 1.1 million have given up looking for work altogether. Unemployment still remains above 8 percent, the supposed maximum rate, and certainly above 6 percent. For 36 straight months, unemployment has been higher than what the president promised. That's more than a rounding error; that is a failure of leadership.

Second, Obama promised the stimulus would not only have a large impact but also an immediate impact. Said the president-elect, "I'm confident ... our 21st century investments will create jobs immediately," adding, "We've got shovel-ready projects all across the country."

Those jobs never materialized, and it was not for lack of workers—or shovels. As President Obama remarked in June 2011, "Shovel-ready was not as shovel-ready as we expected." He chuckled through the mea culpa, but it's no laughing matter. Obama failed to deliver—and at great cost to taxpayers

   
   
   
   
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