Monday, July 5, 2010

Obama Brags About “Stimulus” Spending $2 Billion To Create…3,500 Jobs

That’s $571,428 per job for a solar panel project Obama was bragging about in his radio address today,but not all of the jobs are permanent jobs. Initially there are 2,000 construction jobs, and then 1,500 permanent jobs.

But the question is…what happens to those permanent jobs once the “stimulus” money runs out?

WASHINGTON (AP) – The government is handing out nearly $2 billion for new solar plants that President Barack Obama says will create thousands of jobs and increase the use of renewable energy sources.

Obama announced the initiative in his weekly radio and online address Saturday, saying the money is part of his plan to bring new industries to the U.S.

“We’re going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America,” Obama said.

The two companies that will receive the money from the president’s $862 billion economic stimulus are Abengoa Solar, which will build one of the world’s largest solar plants in Arizona, creating 1,600 construction jobs; and Abound Solar Manufacturing, which is building plants in Colorado and Indiana. The Obama administration says those projects will create more than 2,000 construction jobs and 1,500 permanent jobs.

What’s astounding to me is that he’s bragging about this. To him, deficit spending $571,000 tax dollars to create one job is apparently a success story.

Which, in a nutshell, is exactly why his economic policies are failing. This is not how you promote economic growth. This is how you spend a nation into poverty and bankruptcy.