Tuesday, February 12, 2008

The Debt-Jobs Tradeoff

The NY Times reports:
administration officials are counting on a lift this summer from the $168 billion economic stimulus package that Congress passed last week and from the Federal Reserve’s recent decisions to reduce short-term interest rates....[CEA Chair Edward Lazear] predicted that the stimulus package would create an additional 500,000 jobs this year.
In other words, each job created adds $336,000 to the national debt.