Stimulus Syllogism, Part II

Last month I detailed the effectiveness of President Obama's initial stimulus package: each job "created or saved" cost $271,379, or over five times the median annual family income. So I thought I'd do the same for Son-of-Stimulus:

1) President Obama has proposed spending $447 billion on what he calls the American Jobs Act.

2) A Bloomberg News survey of 34 economists predicts the measure would "add or keep 275,000 workers on payrolls."

3) Dividing #1 by #2 yields about $1.625 million per job. That's six times more costly than Stimulus 1, and over 32 times the median annual family income.

4) Vice President Biden says:

Even though fifty-some percent of the American people think that the economy tanked because of the last administration, that’s not relevant. What’s relevant is we’re in charge. And right now we are the ones in charge.

Conclusion: Biden's right; I blame this Administration. Any further questions?