A recent GAO report says that the Department of Energy spent $1.9 billion in stimulus funds to produce 10,018 full-time jobs, which works out to $194,213 per job.
Dear President Obama,
Please hire me to run the Department of Energy. And please fire Steven Chu, the present Secretary of Energy and head of DOE. Yes, I know that he’s a fellow Nobel Prize winner and I’m not. (Although I have sometimes told people that I won one for plastic fabrication back in 1983. Still, that’s far less resume padding than has been done by some of your closest advisors.)
To say nothing of outright, um, fabrication.
At the heart of the Sherlock plan:
Those U.S. jobs which have gone to Asia and East Asia have done so because of cheap labor — $2 per hour versus $15/hour for light assembly work at a small to mid-size firm. So, with a $13 per hour government subsidy, I could “buy back” many of these jobs and bring them home to the good ol’ USA.
And if there’s one thing the DOE does consistently, it’s hand out subsidies. Ten thousand of these jobs would presumably run something like $260 million. Of course, we don’t have $260 million, but then we didn’t have that $1.9 billion either.