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Obama To Put $5B Into Healthcare Jobs

From a context free Associated Press:

President Barack Obama makes remarks about stimulus funding for biomedical research, Wednesday, Sept. 30, 2009, at the National Institutes of Health in Bethesda, Md.

Obama to announce $5 billion for new healthcare jobs

WASHINGTON (Reuters) – U.S. President Barack Obama announced a plan on Wednesday to spend $5 billion to create new jobs for medical and scientific research, medical supplies and improved laboratory capacity.

The funds, to come from the $787 billion economic stimulus package, will pay for "cutting-edge medical research in every state across America," the White House said in a statement.

"We know that this kind of investment will also lead to new jobs: tens of thousands of jobs conducting research, manufacturing and supplying medical equipment, and building and modernizing laboratories and research facilities," Obama said in a statement.

"The more than 12,000 grant awards are expected to create tens of thousands of jobs over the next two years and are part of an overall $100 billion Recovery Act investment in science and technology to lay the foundation for the innovation economy of the future," the White House statement said.

"These awards will accelerate our progress toward the new medicines, treatments, and cures that will help Americans live longer, healthier lives," Health and Human Services Secretary Kathleeen [sic] Sebelius said in the statement.

The awards will take the form of grants, meaning that institutions and researchers will have to apply for them.

More than $1 billion of the money will go to genomic research — studying the DNA map to find causes of diseases and potential new treatments for them, especially cancer.

Will the poor-loving grandparent-researching bureaucrats at the National Science Foundation be passing out these $5 billion dollars?

We suspect they will. For instance, the genomic research has been hitherto been funded by NSF grant money.

But, if so, the AP isn’t telling.

By the way, the AP also neglected to note that the SEIU represents many of the people who will be getting these new "jobs conducting research, manufacturing and supplying medical equipment, and building and modernizing laboratories and research facilities."

What a coincidence.

This article was posted by Steve on Wednesday, September 30th, 2009. Comments are currently closed.

14 Responses to “Obama To Put $5B Into Healthcare Jobs”

  1. proreason says:

    Take the Moron out of the equation, and I could support this spending, particularly since it appears to already be funded through the Depression Stimulus.

    But that assumes that it would actually be given to legitimate researchers.

    And what are the odds of that happening?

    In reality, this will be another $5 billion in political payoffs to Obamy’s crime partners.

    One other thing, it’s possible to predict how many jobs $5 billion will create. Of course, the calculation I will show will be PERMANENT jobs, not the 3 week jobs that moronistration likes to brag about.

    To figure out permanent jobs, you have to know what the job “costs” and what the expected ROI (return on investment) for $5B is.

    Since the jobs are for research, $100K per year is probably a decent guess (since that would include about $30K in costs for SS matching, health benefits, 401K matching, FUTA, SUTA, plus administrtive overhead to sustain each job).

    The ROI is more challenging. Corporate ROI’s on average are 8 to 9%. Currently interest rates are 1 to 2%. But for grins, let’s use the bigger number because that yields a much bigger number of jobs.

    $5B * .085 / 100K = 4,250.

    So, a VERY OPTIMISTIC analysis says that the top end of the SUSTAINABLE jobs that could be created by this money is 42.5% of the “tens of thousands” of jobs the moronistration claims. (if you use an ROI of 6% which is close to historical norm for T-Bill rates, the number of permanent jobs would be 3,000.

    If Obamy says something……you know it’s a lie.

  2. Confucius says:

    I can see it now.

    –Prostate exams done by plumbers.
    –Breast reconstruction surgeries done by carpenters.
    –XRays read by electricians.

    • proreason says:

      Hasn’t the plan always been to get Acorn devotees jobs in the medical profession.

      The medical profession isn’t stupid diverse enough today.

      Bertha and Obamy want to transform it.

    • Rusty Shackleford says:

      Obama 2008 “We live in the greatest country in the world. Join me in changing it!”

  3. Ted Abhour says:

    Much of the funding will be used to advance the death march. Euthanasia – Abortion – Clone and Kill…..

    Obama is a freak.

  4. caligirl9 says:

    But, but, but, I thought that research added to the high cost of medical care in the U.S.? Research bad. No new research. Keep costs down.
    (Yes, I am joking. Sort of.)
    Cutting-edge research in every state? When there are states that have problems getting doctors and nurses to work there in the first place?
    Many of these jobs are a bit more complicated than a job a high school dropout could do. At minimum most require some sort of vocational education, and those programs are underfunded.
    The problems created by this administration continue to trickle down …

  5. Rusty Shackleford says:

    Oh THANK YOU OH GREAT ONE! THANK YOU for your omniscience. For your all-knowing and all-seeing, so superior to my own abilities.

    Just keep it up monkey boy. Keep it up.

  6. bill says:

    Shovel ready takes on new meaning. Not what we were told it was.

    It’s just a slush fund for liberals.

  7. MinnesotaRush says:

    Well .. I’m delighted to hear o-blah-blah’s putting $5B into healthcare jobs. I was afraid it was taxpayer money!

    DOH!!!!

  8. TwilightZoned says:

    $5 billion will be a drop in the bucket if a singer payer system
    goes through. If the British health care system is the 3rd largest
    employer in the world, America would surely take over 1st by leaps
    and bounds over whom ever comes in second.

    • proreason says:

      Don’t forget, being the 3rd largest employer in the world doesn’t count doctors, nurses, and other medical professionals!!

      That’s just the paper shufflers, tax enforcers and death panels!!!!!

      Well let’s have some fun with math. Recent data is showing that the average government job costs the taxpayers $119K per year, according to Jacoby. (of course, that’s just compensation and doesn’t count management overhead, office costs, travel, and other costs of doing business. In other words, it’s a HIGHLY CONSERVATIVE estimate of the annual cost of a government worker)

      The UK has about 1.3 million death panelists and paper shufflers. So we should have about 6.5 million, assuming we are as “efficient” as them, since our population is more than 5 times their pop of 60 million people.

      6.5M times 119K p.a. = 775 billion per year…………..to oversee the medical professionals and decide which old people and conservatives should be killed this month.

      But I can’t see a problem with that paltry sum. Sure, that is over and above the various estimates of 900 billion to 2 trillion per year for Death Care, but it’s for a good cause, right? And besides, the country has 30 million unemployed people who sure can use jobs on death panels. I’m for rushing right down to the drainage ditches right now to begin training them!!

  9. seanrobins says:

    >>>”These awards will accelerate our progress toward the new medicines, treatments, and cures that will help Americans live longer, healthier lives,”

    Yeah, lots of new “this and that”, which Obamacare will decline to pay for.

    Makes lots of sense to me.

  10. Liberals Demise says:

    I need a drink …. NOW!!!

  11. Petronius says:

    This $5B government spending on medical research will certainly be needed.

    A $4B innovation tax on products of medical device manufacturers and pharmaceutical research companies is pending in the Senate.

    http://cs.schwab.com/clicker/cli?requestID=sr&sid=19758373&emailMsgID=mcs092187967621bacmr4tslhaaaaaspf3-jg

    If that bill is enacted as part of Obamacare, private research will dry up. So it’s lucky for us that Nerobama has a government spending plan to fill the void.

    Memo to self: buy new hearing aid and eyeglasses before innovation tax takes effect. My next set may be the last ones that I can afford.


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