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How Much Stimulus Is Needed To Create A Job?

$787 Billion = 4 million Jobs (Rhetoric is 3 to 4 million jobs)

CBO Reports Potential Job Creation of 1.2 - 3.5 million jobs.

$196,750 To Create A Single Job (based upon Obama Administration estimates)

Number Of Unemployed Americans As Of 2/15/09:

11.6 Million

Number Of Unemployed Americans As Of 3/01/09:

12.5 Million

Net Number of Jobs Created By President Obama's Economic Stimulus Package:
Undetermined - No Data Available

Friday, February 20, 2009

Stimulus Unemployment Changes

Summary of changes to Unemployment Benefits & Programs

Unemployment Benefit Increase - $25 Increase in weekly benefit checks through the end of 2009.

Extended Unemployment Benefits - Extends current legislation extending unemployment benefits by an additional 33 weeks beyond the 26 week base benefit.

Food Stamps Increase - 13% increase in current food stamp benefits.

Income Taxation - The first $2,400 of unemployment benefits would not be subject to Federal Income Taxes.

State Unemployment Benefit Expansion

Income-Based Eligibility - One Third of the stimulus money will be granted to states which change the eligibility guidelines to include income-based eligibility. The move is expected to benefit low-wage workers and drastically increase unemployment rolls.

Increase Eligibility For Benefits - Two-thirds of the stimulus money set aside for unemployment is based upon State's adopting two of four potential changes to their unemployment programs. If a state fails to adopt the changes, they do not receive funds. The four choices are:
  • States must include individuals who are only seeking part-time work.
  • States must include individuals who voluntarily leave employment to care for compelling reasons such as a family illness or domestic abuse.
  • States must include those in "training programs"
  • States must include those who request additional funds for dependents who qualify.
COBRA Changes - Provides a 65% Tax Credit To Employers as a subsidy for COBRA Premiums.