Obama’s Jobs Agenda: “Losing the Future Since 2009.”

By Senator Jim DeMint (R-SC)

Joint Economic Committee Republicans: Member Viewpoint

Media Credit: Iron Mill News Service

Tonight President Obama will outline a new stimulus proposal.  The last failed stimulus, which promised and failed to keep unemployment below 8 percent, included massive government spending on feel-good environmental projects with the Administration picking the winners and losers.  The results were predictable: bad investments, massive corporate welfare, wasteful spending, and more debt.  Below are some examples.

 

  • Solyndra, which last May the President told us was “leading the way toward a brighter, more prosperous future,” received a $535 million stimulus loan guarantee from the Department of Energy in September 2009 (http://1.usa.gov/oFRMbu).  They filed for bankruptcy last week.
  • Iberdrola Energy, a Spanish Company and one of the five largest energy companies in the world, received $170 million in stimulus grants to build a wind farm in Illinois.  Iberdrola Energy recorded a €2.87 Billion net profit in 2010. (http://bit.ly/r4kM1p)  Vice President Biden cited this give-away to an international conglomerate as one of the 100 stimulus projects that are changing America (http://1.usa.gov/nE4tQM).

 

  • It’s clichéd to say liberals spend like drunken sailors, but the Obama Administration actually gave a $103,410 stimulus grant (http://1.usa.gov/pUfuSX) to Andy’s Liquor Mart in Grand Junction, Col., to create the state’s “largest solar powered liquor store. (http://bit.ly/pgqLkW)”

 

  • The Administration provided $1.47 million to Odwalla Inc., a wholly owned subsidiary of the Coca-Cola Corporation, to install a bio-gas energy power plant at their facility. (http://bit.ly/qVerLF) The Administration provided the funding in spite of the fact that Odwalla’s parent is flush with cash. In fact in 2011, “Coke [has] managed to generate strong profits during the [second] quarter. Net income at the US beverage group increased to $2.8bn, or $1.20 a share, up from $2.38bn, or $1.02 a share. (http://on.ft.com/qZxDLi)”

 

  • Demonstrating that taxpayer funding can still be wasted in 30 minutes or less, the Obama Administration provided a $7053 taxpayer subsidy (http://1.usa.gov/pUfuSX) to Hot Tomato Pizza of Fruita, Col., to install solar panels on their roof.

 

The upshot: if government bureaucrats were any good at venture capitalism, they wouldn’t be government bureaucrats.

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About Albert N. Milliron 6987 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

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