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I worked on a paper that showed that the "Paycheck Protection Program loans increased employment at small businesses by only 2%, implying a cost of $377,000 per
by charvard 5y ago
I worked on a paper that showed that the "Paycheck Protection Program loans increased employment at small businesses by only 2%, implying a cost of
$377,000 per job saved" in April 2020: https://opportunityinsights.org/wp-content/uploads/2020/05/tracker_paper.pdf https://opportunityinsights.org/wp-content/uploads/2020/05/t...
It still hurts me to read. Over a third of a million, 7 times the average salary, to save a job during the pandemic under this plan
- WalterBright 5y agoIn general, a government spending program to create jobs costs 3x as much as the jobs pay.
- Broken_Hippo 5y agoAnd to think that they could have just given the money to people instead.
- pempem 5y agoBut then they would never work again! Look at where rent moratorium and $6,000 got us! /s Sorry, hearing this ^ bs logic every day in outlets from WSJ to NPR is beyond frustrating. We have helped our citizens so little during a pandemic it has shaken my already cynical core.
- sobani 5y ago> increased employment at small businesses by only 2% > implying a cost of $377,000 per job saved The second doesn't follow from the first at all? The fact that employment increased doesn't tell you anything about how many jobs were not lost, right?