GOP Sen: Each Job in Stimulus May Cost $300K

Sen. Chuck Grassley (R-Iowa) said Wednesday that every job created by the Senate stimulus bill could cost taxpayers between $100,000 and $300,000, a steep increase from before the stimulus, according to a new review of the bill by the Congressional Budget Office.

Grassley, the ranking member of the Senate Finance Committee, said the results of the CBO study suggest that the stimulus could ramp up the price of new jobs by as much as three times. The CBO analysis in January, before any stimulus, Grassley said, found that the Gross Domestic Product per worker is approximately $100,000.

The CBO found that the Senate bill would create between 2.8 million and 8.2 million jobs over the next three years.