9/16/2011

Obama green-tech programs spends $5.4 million per job "created"

Let us ignore that this money would have gone someplace else and would have created jobs there. $19 billion to "create" 3,545 jobs comes to about $5.4 million per job. The Washington Post writes:

A $38.6 billion loan guarantee program that the Obama administration promised would create or save 65,000 jobs has created just a few thousand jobs two years after it began, government records show.

The program — designed to jump-start the nation’s clean technology industry by giving energy companies access to low-cost, government-backed loans — has directly created 3,545 new, permanent jobs after giving out almost half the allocated amount, according to Energy Department tallies.

President Obama has made “green jobs” a showcase of his recovery plan, vowing to foster new jobs, new technologies and more competitive American industries. But the loan guarantee program came under scrutiny Wednesday from Republicans and Democrats at a House oversight committee hearing about the collapse of Solyndra, a solar-panel maker whose closure could leave taxpayers on the hook for as much as $527 million. . . .

President Obama has made “green jobs” a showcase of his recovery plan, vowing to foster new jobs, new technologies and more competitive American industries. But the loan guarantee program came under scrutiny Wednesday from Republicans and Democrats at a House oversight committee hearing about the collapse of Solyndra, a solar-panel maker whose closure could leave taxpayers on the hook for as much as $527 million. . . .

Labels: , , ,

1 Comments:

Blogger Chas said...

Markie Marxist sez: "Only $5.4 million per job? Surely we can funnel capitalist America's money down a rat hole faster than that. Maybe we can get it to an even $10 million in Obama's second term. I guess there's a learning curve to it."

9/17/2011 8:31 AM  

Post a Comment

Links to this post:

Create a Link

<< Home