About that 'green jobs' bubble

Debra Saunders:
Before his American Jobs Act failed to pass a Senate cloture vote Tuesday, President Barack Obama made a last-ditch speech to talk up his troubled bill. Not once did Obama mention "green jobs" -- his erstwhile jobs of the future. 
Smart move. Obama's 2009 $787 billion stimulus package included $500 million for training programs that were supposed to create new green jobs for thousands of middle-class Americans. Last month, however, the Department of Labor's inspector general conducted an audit that found that as of June 30 -- with one-third of the funds spent and more than 50,000 participants -- only 10 percent of trainees were placed in jobs. And only 1,336 participants, or 2 percent, had held jobs for six months or longer. 
The audit reported that grant recipients expressed concerns that green jobs had not materialized and job placements into subsidized employment had been much less than expected." The inspector general recommended that the Labor Department cut its losses and run -- in Washington-speak. The audit advised that the department reassess grants and "obtain an estimate of funds each grantee will realistically spend given the current demand for green job-related skills" so that whatever is left of the remaining $327 million can be put to better use. 
Sen. Chuck Grassley, R-Iowa, who requested the audit, concluded, "The administration continues to push good money after bad into so-called green jobs." 
If you can't help but think about Solyndra -- the Fremont, Calif., solar company that filed for bankruptcy after burning through a $528 million federal loan -- go to the head of the line. 
I feel for trainees who sign up with the expectation that despite the jobless recovery, they'll land a good job and launch a stable career. The audit suggests that many will be sorely disappointed.
... 
The green jobs boondoggle has been exposed as has Obama's grand plan for changing the primary source of energy in this country.  He has a record of failure to run on now.

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