PrintSeptember 8, 2011
Green Pigs Don't Fly
Reportedly, Obama's jobs speech will focus on infrastructure spending, and much of that spending will undoubtedly be tied to the creation of "green jobs." The problem is, what he has already spent has not created jobs. According to the Heritage Foundation, it may well have cost jobs. It has, however, enriched some of his wealthiest political contributors. And that seems to be the real motive behind the president's infrastructure spending. Not green jobs, but green pork.
That appears to be the case with Obama's $535-million loan guarantees to Solyndra Inc. During a 2010 visit to Solyndra's plant in Fremont, California, Obama insisted that the solar panel company would create "one thousand long-term jobs." Solyndra has since declared bankruptcy, and it seems unlikely that the taxpayer will recover any of the $535 million in loans.
The half-billion that Obama threw away on Solyndra is only a small part of $60 billion earmarked for alternative...(Read Full Article)
