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$38.6B ‘Green Loans’ Have Created 3,545 Jobs

The Washington Post commits another surprising act of journalism:

Obama green-tech program that backed Solyndra struggles to create jobs

By Carol D. Leonnig and Steven Mufson
September 14

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.

According to the Media Research Center’s calculations, that’s almost $5 million per job. (We don’t have a calculator that handles billions very well.)

The Energy Department says that the green-jobs program is still on track to meet its employment goals. It claims credit for saving 33,000 jobs at Ford Motor Co. — about half of the Detroit automaker’s entire hourly and salaried U.S. workforce.

Imagine that. Stimulus money finding its way to union workers. And not just any union, but the UAW.

After all, Mr. Obama didn’t give the Ford UAW their own company, like he did with Ford and Chrysler. So he had to make it up to them somehow.

The department says the biggest of its loan guarantees, for $5.9 billion, protected the jobs at Ford by enabling the automaker to upgrade plants in five states to build more energy-efficient vehicles. The Energy Department said the loan would “convert” the Ford jobs to “green manufacturing jobs.” …

Yep, nothing says ‘green’ like cars and trucks.

Mark Muro, a Brookings Institution fellow who researches the clean-tech industry, said the agency appears to be counting every employee working in upgraded plants, when the more relevant question is how many workers would have been laid off without the loans.


Still, according to Fox News, even if you count all of the 65,000 jobs that the Obama administration claims are going to be saved or created, each job will end up costing more than $600,000 a piece. Assuming they are correct, that is lot of ‘green’ even by Obama’s standards.

Luckily a lot of it will be re-cycled back into Democrat campaign funds.

This article was posted by Steve on Thursday, September 15th, 2011. Comments are currently closed.

7 Responses to “$38.6B ‘Green Loans’ Have Created 3,545 Jobs”

  1. Papa Louie says:

    There seems to be no end to the incompetence of the Obama administration. The scandals that were leaking out Fast and Furious are now being exposed at the speed of LightSquared!

    • sticks says:

      The scandals are leaking out because the rats (mbm) are jumping off what they can obviously see is a sinking ship (the Obama Chicago Mafia), but where they gonna swim to? The Clintonistas?

  2. Mae says:

    Well, Greenies, save as much of that salary you can, ’cause you’ll be out on the street in no time flat. But, then, you have Obamy giving you unemployment for a couple of years. Either way, you’re living off the rest of us.

  3. Dear Mr. President,

    I want my money back. Yes, a wire transfer from your personal bank account will suffice.


    Fed up with all you profligate urban liberal bzzybody pseudointellectual snobs

  4. Right of the People says:

    Damn, that figures out to nearly 11 million dollars a job. I want one of those green jobs!

  5. Tater Salad says:

    Barack Obama’s “New Jobs Bill” has a few “hidden items” of grave concern. Remember when he said that the bill is “All or Nothing”? Here is the reason behind that statement. You won’t believe this one. There is NO company who is even going to consider hiring, much less to have an employee vs. employer interview now. It is almost like Obama doesn’t want the the country to create jobs. Either Obama is dumb as a stump and set in his ideology or he is so deeply intrenched in Saul Alinsky’s radical views on how to bring a country to its knees inorder to usher in a new type of government……..socialism/New World Order.


    …………..and then we have this written in the Jobs Bill:
    Stimulus II, Barack Obama’s “new” and improved (so he says) economic stimulus package (not yet presented to Congress) has a section 261 of the bill that grants portions of $15 Billion dollars to qualified non-profit organizations………ala……..Acorn. And we all thought “Slick Willy” had retired!


    This past week, Barack Obama gave $300,000.00 to Acorn affiliates: http://weaselzippers.us/2011/09/16/report-acorn-affiliated-group-gets-300000-more-in-taxpayer-money/

    Deliberate Improverishment of the Western World. Agenda 21, BaracK Obama and the New World Order all come into play:

  6. Rusty Shackleford says:

    I thought this very clever:

    The National Debt In Terms Anybody Can Grasp:

    This below states the USA financial position succinctly:

    U.S. Tax Revenue: $2,170,000,000,000
    Federal Budget: $3,820,000,000,000
    New Debt: $1,650,000,000,000
    National Debt: $14,271,000,000,000
    Recent Budget Cut: $38,500,000,000

    Now, let’s remove 8 zeroes from each row …

    U.S. Tax Revenue: $21,700
    Federal Budget: $38,200
    New Debt: $16,500
    National Debt: $142,710
    Recent Budget Cut: $385

    And now pretend it’s your household budget:

    Annual Family Income: $21,700
    Money the Family Spent This Year: $38,200
    Money you had to put on the credit card to make up the difference: $16,500
    Total Outstanding Balance on the credit card: $142,710
    Total Budget Cuts to bring your budget in line: $385

    The only thing I would add is that we need to remove one more zero from the total. The one in the white house.

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