Jobs Bill Is Really A Bailout For Democrat States

Barack Obama said at a fundraiser held in a private residence in Washington, D.C., on Thursday evening that the $447 billion American Jobs Act he has proposed will create 1.9 million American jobs.  “It’s estimated that the American Jobs Act would add two percentage points to the GDP, and add as many as 1.9 million jobs, and bring the unemployment rate down by a full percentage point,” Obama said, according to the official White House transcript of his remarks.

In a fact sheet published by Office of the Press Secretary, the White House itself has estimated that president’s new jobs plan will cost a total of $447 billion.  Do the math....$447 billion divided by 1.9 million equals approximately $235,263 per job.

"These vast contributions to the coffers of state and local governments, though pitched as a jobs bill, are in reality the latest in a series of bailouts for debt-ridden state and local governments," Paul E. Peterson and Daniel Nadler, both Harvard academics, write in a Wall Street Journal opinion piece.

"They are of special benefit to states in the blue regions of the country where the president's most fervent supporters reside."

A Harvard Program on Education Policy and Governance study finds states with legislatures that are heavily Democratic and have a highly unionized public-sector work force must pay interest rates that are often an extra half a percentage point higher than those in red states.

This jobs bill by Obama is another pork payoff for unions.  We can't afford a $447 billion slush fund for the unions.  Giving money to unions and taxing the job creators is Obama's true policy.

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