Grassley says CBO analysis shows stimulus jobs to cost as much as $300,000 each

The following press release was published by the United States Senate Committee on Finance Chairman's News on Feb. 4, 2009. It is reproduced in full below.

Dear Dr. Elmendorf:

I am writing to request that the Congressional Budget Office conduct an analysis of the macroeconomic impact of the Senate stimulus bill.

This analysis should include an estimate of employment and GDP under the current January CBO baseline relative to the Low and High multiplier assumptions utilized in the CBO analysis of H.R. 1. The analysis should include the period from 2008 through 2019.

The Senate may begin consideration of this legislation early next week, so it is absolutely critical to have this analysis prior to any final vote.

I would also like to request that CBO update its analysis of H.R.1 as passed by the House and include years 2008-2019.

Should there be any questions about this request, please contact Steve Robinson at 224-3476.

Thank you for your assistance in this matter.

Sincerely,

Charles E. Grassley Ranking Member

Source: US Senate Committee on Finance Chairman's News