Tuesday, December 2, 2008

Pick: Stupidity or Dishonesty

"Mr. Rendell said the states had $136 billion of transportation and public works projects “ready to go.” States, he said, want to use the money for roads and bridges, airports, transit systems, ports, railways, schools, waste water treatment plants and broadband networks. “Every billion dollars spent on infrastructure produces 40,000 new jobs,” he said."

Mr. Rendell is the governor of Pennsylvania. The quote is talking in reference to a proposed $500bn stimulus package.

If you trust the governor's numbers, some arithmetic (numbers) would imply that the $136bn of infrastructure would lower the US unemployment rate from 6.5% to about 3.1%. Suuuure. No word on just how less money than has been committed to saving AIG would not only fix everything, but make it better than ever.

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