Greg Mankiw, once the chief economic advisor for Pres. Bush, isn’t impressed with the economic stimulus program that’s supposed create thousands of new jobs. First, he quotes the NY Times:

administration officials are counting on a lift this summer from the $168 billion economic stimulus package that Congress passed last week and from the Federal Reserve’s recent decisions to reduce short-term interest rates….[CEA Chair Edward Lazear] predicted that the stimulus package would create an additional 500,000 jobs this year.

Then, he concludes: “In other words, each job created adds $336,000 to the national debt.”