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Today's Living on 'Today's THV at 5': Stimulus Money
New administration figures show the bulk of the jobs created so far are in the public sector but little is being done to help small business or the private sector.
The Obama administration claims the stimulus plan has so far created or saved 640,000 jobs, and even more if you include the plan's tax cuts, grants and awards.
A closer look shows that the largest number of jobs were created or saved by state governments; 400,000 state jobs through the Department of Education alone.
In Florida, for example, more than half of the 30,000 jobs saved or created, so far, are in the public school system. One group advocating lower taxes says the stimulus has done little to create private sector jobs in a state where one out of nine residents are out of work.
Dominic Calabro with Florida TaxWatch says, "The private sector jobs create many, many...number one, generally, better paying jobs at the higher end. And secondly, they are more sustainable and a greater economic multiple meaning they help create even more and more jobs."
The administration argues the money spent on education is an investment. But since the stimulus bill passed, approximately 2.6 million jobs have been lost. Nearly all of them in the private sector.
THV's Liz Massey will have more in her Today's Living report on "Today's THV at 5:00" and todaysthv.com.