This professor might be good at economics; he's not very good at math.
He claims the Obama stimulus plan comes out to $280,000 per job, by dividing the amount of stimulus by the number of jobs Obama claims he will add (2.5 million).
What he forgets to do is subtract the number of jobs that would be lost in the downturn if we did nothing. If it's already a million, there'll probably be another million lost after Obama takes office early in 2009. And you need to figure out how many jobs would be lost WITHOUT the stimulus. Three million? Five? Obama needs to make up for the jobs potentially lost before he can create the additional 2.5 million. So that money is closer to $100,000 a job, if that. And that only gets us back to today's 6.5% unemployment rate. If we want to go back to 5% unemployment (before this crisis hit) we'll need another 250,000 jobs.
$100,000 a job is still a lot, though.