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JOB CREATION….As word of Barack Obama’s stimulus package starts making the rounds, conservatives are reviving one of their favorite tropes: that’s sure an expensive way to put people to work! Basically, they divide $700 billion by 2.5 million jobs and announce that the cost of the plan is $280,000 per job, a whopping figure in anyone’s book. But Mark Thoma does the actual math, and it turns out that the numbers at hand are actually $490 billion and 5.4 million jobs:

If we actually get the 5 million jobs the estimates say we will get, what is the cost per job? It is $490 billion divided by 5,425,000, or $90,323. (Note that by targeting spending to places that have a high employment rate per dollar spent, we may be able to do even better than this.)

But this is GDP per job, it includes wages, rent, interest, and profit, it’s not the amount labor takes home. About 70 percent of income goes to labor….If we take 70% of $90,323, we get about $63,000 (actually, $63,226). That’s less than a quarter of the $280,000 figure.

Read the whole thing for more. I’m just presenting this as a public service, since this talking point is almost certain to get extensive play on Fox News and elsewhere. Forewarned is forearmed.

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TIME IS RUNNING OUT!

We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

The bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. And advertising or profit-driven ownership groups will never make time-intensive, in-depth reporting viable.

That's why donations big and small make up 74 percent of our budget this year. There is no backup to keep us going, no alternate revenue source, no secret benefactor. If readers don’t donate, we won’t be here. It's that simple.

And if you can help us out with a donation right now, all online gifts will be matched thanks to an incredibly generous matching gift pledge.

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