The Most Optimistic Projection for Obama's Jobs Program Makes No Sense on Its Face

A Moody's analyst has apparently produced an analysis showing that Obama's $450 billion jobs program would create 2 million new jobs.   Well, putting aside my skepticism about these kinds of projections (after all, didn't we hear similar projections the first time around?), let's just take it at face value.   Hmmmm... $450 billion for 2 million jobs, that's about $225,000 per job!   And that's before any private employer actually pays these new workers salaries and benefits.  

I'm not sure there's a business in the world that would want to hire someone if the upfront cost before you even start paying salary and benefits is $225k.   Why is the government willing to do that, and how does it make any sense?