Apparently there is a basis for the "jobs created or saved" number that I always figured were blatant lies. It's the mythical idea that every $1 of government spending creates $2.50 in economic growth. So let's see, by this reasoning, all this huge debt should be producing so much economic growth that tax receiptes would always outstrip spending and there is no such thing as a deficit. Um...there has to be a statute for criminal stupidity, right? Maybe we should sue the administration for fraud.
They actually base this nonsense on a formula for the sum of an infinite series. The economic theory is that you will spend 2/3 of what you receive from the gov and then the person you spent it on will spend 2/3 of that, etc.
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