Hallelujah! Obama is cheering the news of 1,500 permanent jobs. The only problem is those jobs are going to cost taxpayers $1,333,333 each.
Please consider Obama awards $2B for solar power, hails new jobs
The government is handing out nearly $2 billion for new solar plants that President Barack Obama says will create thousands of jobs and increase the use of renewable energy sources.
“We’re going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America,” Obama said.
The two companies that will receive the money from the president’s $862 billion economic stimulus are Abengoa Solar, which will build one of the world’s largest solar plants in Arizona, creating 1,600 construction jobs; and Abound Solar Manufacturing, which is building plants in Colorado and Indiana. The Obama administration says those projects will create more than 2,000 construction jobs and 1,500 permanent jobs.
Obama has said that to bring the nation’s economy back from the brink of a depression, it was necessary to add to the country’s debt in the short term.
Ignoring marginally attached workers, discouraged workers, and those working part-time who want a full-time job, there are approximately 14.6 million unemployed.
Counting 1,500 permanent jobs at $1,333,333 each, it would only cost $1.94666618 × 1013 ($19.47 trillion) to have full employment. That qualifies as aggressive in my book.
Mike “Mish” Shedlock