Obama's disastrous green energy portfolio

Deroy Murdock:
"We'll invest $15 billion a year over the next decade in renewable energy, creating five million new green jobs that pay well, can't be outsourced, and help end our dependence on foreign oil," candidate Barack Obama pledged in a November 1, 2008 radio address.

Three years and eight months later, as unemployment has exceeded 8 percent for 41 straight months, Obama seems incapable of keeping this promise. With the worst employment figures since at least 1948, when the Bureau of Labor Statistics' started measuring them, Obama has made a dog's breakfast of jobs - green and otherwise.

Consider three key Department of Energy programs. DOE's website boasts that its "clean energy" initiatives - dubbed 1703, 1705, and Advanced Technology Vehicles Manufacturing (ATVM) - loaned $34.7 billion and launched "nearly 60,000" jobs. This totals a staggering $578,333 per position.

According to the Bureau of Economic Analysis, private employers pay average workers $62,757 in wages and benefits. So, Obama is "creating jobs" at 922 percent of the private sector's cost. Thus, for every green job that Obama supposedly spawns with taxpayer dollars and borrowed Chinese money, private enterprises could hire nine people.

Obama touts green-energy "investments," even though this is not Obama's money to invest. Rather than choose winners and losers, which would be bad enough, Team Obama picks losers. It subsidized at least ten "clean" companies that went kaput.
...
There is much more.

What is worse is that Obama wants to raise taxes on real job creators so he can make more such "investments."  That defines insanity.

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