Wednesday, April 29, 2015

Public Education Scam: Last week, economists from the St. Louis Federal Reserve surveyed more than 6,700 education stimulus recipients and concluded that for every $1 million of stimulus grants to a district, a measly 1.5 jobs were created

Michelle Malkin reports on con man Barack Obama:
In 2009, Obama and the Democrats rammed the $840 billion federal stimulus package through Capitol Hill under the guise of immediate job creation and economic recovery. An estimated $64 billion went to public school districts; another nearly $50 billion went for other education spending. This included $13 billion for low-income public school kids; $4.1 billion for Head Start and childcare services; $650 million for educational technology; $200 million for working college students; and $70 million for homeless children.

How’s that all working out? Last week, economists from the St. Louis Federal Reserve surveyed more than 6,700 education stimulus recipients and concluded that for every $1 million of stimulus grants to a district, a measly 1.5 jobs were created. “Moreover, all of this increase came in the form of nonteaching staff,” the report found, and the “jobs effect was also not statistically different from zero.”

More than three-quarters of the jobs “created or saved” in the first year of the stimulus were government jobs, while roughly 1 million private sector jobs were forestalled or destroyed, according to Ohio State University. President Obama later admitted “there was no such thing” as “shovel-ready projects.” But there were plenty of pork-ready recipients, from green energy billionaires to union bosses to Democratic campaign finance bundlers. About $230 billion in porkulus funds was set aside for infrastructure projects, yet less than a year later, Obama was back asking for another $50 billion to pour down the infrastructure black hole.
When government spends money on education : it isn't an investment.