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All Da King's Men

What About Those Five Million Green Jobs ?

By David King Published: October 11, 2012


The political left's latest tactic, beyond Big Bird, is to call Mitt Romney a liar every five seconds in the hope that it will distract people from the fact that Romney schooled Obama in the presidential debate. What follows are a few things the left would rather you not focus on as it screams "liar, liar, pants on fire !!!"

Here is an excerpt from the presidential debate. The subject is tax breaks and green jobs:

OBAMA:  Let’s talk about corporate taxes.The oil industry gets $4 billion a year in corporate welfare...Now, does anybody think that ExxonMobil needs some extra money, when they’re making money every time you go to the pump? Why wouldn’t we want to eliminate that? not give tax breaks to companies that are shipping jobs overseas.

Right off the bat, I have to point out that Obama has been the President for nearly four years, and the Democrats controlled both branches of Congress for the first two of those years. If Obama wanted to end so-called "corporate welfare" for oil companies and not give tax breaks to companies that ship jobs overseas....THEN WHY DIDN'T HE DO IT ? Budgetary measures don't even need a supermajority to pass. They pass with a simple majority vote, like the Bush tax cuts did.

Romney's response tore Obama's thin talking points to shreds.

ROMNEY: ... to oil, to tax breaks, then companies going overseas. So let’s go through them one by one.

First of all, the Department of Energy has said the tax break for oil companies is $2.8 billion a year. And it’s actually an accounting treatment, as you know, that’s been in place for a hundred years. Now...

OBAMA: It’s time to end it.

ROMNEY: And in one year, you provided $90 billion in breaks to the green energy world.

Now, I like green energy as well, but that’s about 50 years’ worth of what oil and gas receives. And you say Exxon and Mobil. Actually, this $2.8 billion goes largely to small companies, to drilling operators and so forth.

ROMNEY: But, you know, if we get that tax rate from 35 percent down to 25 percent, why that $2.8 billion is on the table. Of course it’s on the table. That’s probably not going to survive you get that rate down to 25 percent.

But don’t forget, you put $90 billion, like 50 years’ worth of breaks, into -- into solar and wind, to Solyndra and Fisker and Tester and Ener1. I mean, I had a friend who said you don’t just pick the winners and losers, you pick the losers, all right? So this -- this is not -- this is not the kind of policy you want to have if you want to get America energy secure.

The second topic, which is you said you get a deduction for taking a plant overseas. Look, I’ve been in business for 25 years. I have no idea what you’re talking about. I maybe need to get a new accountant.

Burn city. I'm surprised Obama's hair didn't catch on fire.

We've had an update on the status of those five million green jobs Obama said he was going to create over ten years. We're over a third of the way through Obama's ten year period, and the grand total of green jobs created is...the envelope, please....

 28,854 green jobs created. Here's the detail:

The American Recovery and Reinvestment Act of 2009 set aside $90 billion in renewable energy grants and loans for a grab bag of thousands of projects—wind farms, solar installations, natural gas fueling stations, biofuel research, and a $5 billion weatherization project for low-income homes. Digging into the public records of the $21 billion spent so far through 19 U.S. Department of Energy programs reveals 3,960 projects that employ 28,854 people.

Not exactly on a path to five million, are we ?

And it took $21 billion in subsidy spending to get those 28,854 green jobs. That's about $728,000 spent per job created.

There are more jobs Obama categorizes as green jobs, but he does that by counting truck drivers, sewage workers, construction workers, and any other tangential workers associated with his stimulus spending. Those are not the high tech green jobs of the future Obama touted, but he counts them anyway. Obama also uses his magical "saved or created" measurement to inflate the numbers, along with applying a multiplier effect that may or may not have occurred. Bloomberg Businessweek calculates that if you give the Obama administration the benefit of all those serious doubts, about 675,000 total jobs have been created or saved, with most of those jobs being temporary.

Thus, we need somewhere between 4,325,000 and 4,961,146 green jobs to go to reach five million, and we're home.

Obamanomics. You gotta love it. You better, because you're going to have to pay for it.

In related news, the IRS has accused Solyndra, who received more than half a billion taxpayer dollars from Obama's stimulus package, of being nothing more than a tax dodge for it's wealthy investors.

And the hits just keep on coming.








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