Obama's plan for 5 Million Green Jobs could mean 11 Million Current Jobs Lost
Obama's plan for 5 million green jobs could prove "to be terribly and economically counterproductive."
Obama signed his economic stimulus package into law back in February, allocating $110 billion for the subsidization and support of alternative energy sources with the intention that this enormous investment of tax dollars will create 5 million green jobs.
However, the United States is not the first to attempt to create jobs by promoting investing in renewable energy. Spain, Germany, and Japan have all made large investments to that end. Tony Blankley, in an article for Rasmussen Reports, commented on the research done by one of Spain's leading universities "of the effects on employment of public aid to renewable energy sources."
This study was first to research the actual impact that green jobs have made on job creation. The results indicated that the “Spanish/EU-style 'green jobs' agenda now being promoted in the U.S. in fact destroys jobs.” Furthermore, the study showed, with high confidence, that the U.S. should expect a loss of 9 jobs for every 4 created.
Blankley explained that the “high cost of green energy predictably drove energy-intensive Spanish companies and industries out of Spain to countries with cheaper carbon-based energy, while the cost to Spanish taxpayers of renewable-energy subsidies was enormous.”
Sure, it's one thing to address global warming, but it is another thing to honestly believe that green jobs will be the cure-all for high unemployment rates.