Tuesday, July 10, 2012

Obozo's Economics: You Don't Get the Jobs (Or the Money)

Like paying taxes (and incurring $zillions in debt) for ObozoNomics?

You'll like it even less when you notice that the vast majority of the "jobs" went overseas.

...Obama handed over billions of dollars in loan guarantees and stimulus awards pursuant to his goal of putting one-million electric vehicles on the road by 2015. Much of that money ended up leaving our shores. A $2.4 billion stimulus program to support battery production sent nearly half of its money to foreign firms, including two South Korean companies that used their awards to hire foreign nationals in Michigan to do work that Americans easily could have done....

...Obama's stimulus included over $8.5 billion in grants for wind farms that flowed overseas, despite Congressional criticism from both sides of the aisle. In total, over half of the money went to either foreign developers or foreign wind turbine manufacturers, creating thousands of jobs overseas with money that was supposed to create jobs within the United States.

...Remember Solyndra? The problems with Obama's loan guarantee program don't end there. The largest recipient of Obama's program to jumpstart green energy projects was the Spanish Company Abengoa, which took in $2.7 billion in loan guarantees for three of its projects. Other projects importing foreign-made solar panels are, much in the same way as Fisker Automotive, choosing to make their products overseas.

Shall we talk about "outsourcing," Obozo??


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