Obama Spends $4,853,000 per Green Energy Job

As anyone whose eyes weren’t clouded by moonbattery could easily have seen in advance, the Obama Regime’s push to spend “green jobs” into existence has been a colossal failure:

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.

Hot Air does a little math:

With $17.2 billion spent on these programs, the cost per actual job created comes to $4.853 million.

Actually, the cost was higher still:

Taxpayers will have to pay off the bonds created to give away this cash, which means the cost won’t just be the $4.853 million, but also the interest we have to pay on each $4.853 million over the next ten years or so. We also have to count the opportunity costs as well. Had we not borrowed this money to feed Obama’s green-jobs-explosion delusions, taxpayers in the future would have that capital to invest, expand and create businesses, and create jobs that make far more efficient use of the capital than $4.853 million per worker. We have not only failed in the present, we have set ourselves up for failure in the future as American capital has to get redirected into paying off the debt Obama hung on us for his green-jobs subsidy program.

As for the pitiful handful of jobs created — for each one of them, at least 2.2 jobs were destroyed by the government sucking money out of the economy, using the nearly bankrupt green energy pioneer Spain as a guide.

At least we meant well, the liberals will bleat. We did it for the polar bears!

Actually, it was done for Obama’s donors, as the Solyndra debacle made obvious and the SolarCity and Solexel scandals confirmed. Green energy is a money laundering operation, the purpose of which is to shovel gargantuan sums of taxpayer cash at those who helped buy the Manchurian Moonbat’s election.

Those involved in this racket belong in prison, starting with Obama.

solyndra-obama
Fraud… grand theft… money laundering… racketeering…

On a tip from J. Cross-posted at Moonbattery.

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