Wednesday, June 20, 2012

Another scam heard from: Obama administration program spent $10B to create 355 jobs

At this rate, we could get full employment by borrowing $500 quadrillion dollars from Red China.

The Obama administration spent $10 billion to create 355 renewable energy jobs per year, according to testimony offered Tuesday before Congress by a Congressional Research Services expert.

Asked by Rep. Cory Gardner (R., Colo.) “how many jobs were created” in 2009 and 2010 under the 1603 renewable energy grant program authorized by the Obama administration, a CRS specialist in public finance admitted that $10 billion was spent to create 3,666 construction jobs over a two-year period–and only 355 jobs per year going forward.

Dr. Molly Sherlock, the CRS specialist [estimated the] " jobs created at 355,” Sherlock said...

“So for direct jobs—just if we look at the first year, this is average jobs per year, it’s 355 jobs per year—in two years, 355 jobs created a year, $10 billion?” Gardner asked.

“That would be jobs per year going forward,” Sherlock responded, “so these would be jobs that would be retained, average jobs per year going forward, yes.”

“For $10 billion?” Gardner clarified.

“Yes,” Sherlock said.

See, econoquack Paul Krugman was right all along. More excellent stewardship of the taxpayers' money -- like this fine example -- is all we need to get the economy growing again.

Hat tip: CF.

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