This works out to $5,077,574 per job created!

By —— Bio and Archives September 15, 2011

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The Obama administration has spent more than $5 million for each “green” job created under the 2009 stimulus fiasco.

As reported by the Washington Post this morning:

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…

  In addition to guaranteeing loans for renewable-energy projects, the Energy Department has been meting out grants from a separate, less-controversial $33.7 billion appropriation it received as part of the 2009 economic stimulus bill. So far, the department has given out $18.1 billion from that fund…

Obama has spent almost 47% of the $38.6 billion to create 5.4% of the promised jobs. This works out to $5,077,574 per job created!

Steve Milloy -- Bio and Archives | Click to view Comments

Steve Milloy publishes and and is the author of Green Hell: How Environmentalists Plan to Control Your Life and What You Can Do to Stop Them

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