Obama’s ‘Green Jobs’ Promise Fundamentally Transforms Into Economy-Eating Fungus

“Green” is becoming a very ugly color if you want a job:

A solar energy company President Obama once touted as an example of American ingenuity is filing for bankruptcy.

California-based Solyndra which received a $535 million loan guarantee from the federal government in 2009, says it can no longer compete with the lower costs of its rivals overseas.

More than 1,100 workers at Solyndra are expected to lose their jobs.

Since almost all of the government loan has already been given to Solyndra, it’s possible taxpayers will be left to foot the bill.

This is the third major American solar company to shut down in the last month.

A little more on this latest catastrophe for Obama’s entire bogus economic agenda:

Solyndra’s bankruptcy: ‘Political catastrophe’ for Obama?
Obama nurtured the solar-panel maker with $535 million in his push to create green jobs. Now it’s kaput and its 1,100 employees are out of luck
posted on September 1, 2011, at 1:22 PM

President Obama toured the Solyndra solar-panel plant in May, 2010, after extending a $535 million federal loan to the company, which is now filing for bankruptcy.

President Obama toured the Solyndra solar-panel plant in May, 2010, after extending a $535 million federal loan to the company, which is now filing for bankruptcy. Photo: Pool/Getty ImagesSEE ALL 61 PHOTOS

Best Opinion: Hot Air, Green for All, Moderate Voice

Solar-power startup Solyndra — one of the flagships of President Obama’s efforts to create green-energy jobs — has shut down, and plans to file for bankruptcy. Solyndra received $535 million in federally guaranteed loans to expand, and Obama once visited the company’s Silicon Valley factory to congratulate its workers on their bright future. But Solyndra says it just can’t compete with cheaper solar panels from China, and now its 1,100 employees are out of work. Is this a “political catastrophe” for Obama, or just a painful setback in the transition to clean energy?

Solyndra’s collapse proves Obamanomics has failed: This company was supposed to be part of Obama’s “green-jobs explosion,” says Ed Morrissey at Hot Air. Now it’s “a poster child for the failure of his stimulus, his green-jobs push, and social engineering in general.” Obama said Solyndra would demonstrate the effectiveness of his economic policies, and it did — the company never made a profit, and instead of creating jobs, it sent 1,100 people into the unemployment line.
“Solyndra shuts its doors”

This is not Obama’s fault: “The investment our government made in Solyndra wasn’t a hand-out,” says Green for All. It was an attempt to “level the playing field” so Solyndra could compete with Chinese companies that receive up to 20 times more help from the state than U.S. firms do. This setback proves we need to invest more in “the inevitable green economy” — not less — unless we want to import our solar panels, batteries, and everything else from overseas.
“Statement on the announced closure of Solyndra”

Clearly, there were better ways to spend the stimulus: If Obama really wanted to create jobs, says Logan Penza at The Moderate Voice, he should have targeted companies based on their “ability to compete.” But he didn’t want to anger Democrats, so he saddled taxpayers with debt to help green companies that liberals can love. Obviously, the economy would have been better off if he had spent the money in ways that were “cost-effective instead of merely politically convenient.”
“The cost of politicized stimulus”

My little voice: this is a catastrophe and it is ALL Obama’s fault.

When Obama was promising that green jobs would save the U.S. economy, the verdict was already in that no they wouldn’t.  Take Spain, where we learned way, WAY back when Obama was ramping up his ruinous green job program that 2.2 ordinary jobs were destroyed for every one green job created.  Conservatives have been saying forever that the very thing that happen would happen.  And the man who couldn’t have been more wrong is to blame.

And it is PARTICULARLY Obama’s fault, given the fact that now-bankrupt Solyndra was a boondoggle with all kinds of cozy ties to Obama.

Green jobs are an utter farce on top of a total boondoggle.  And anybody who thinks otherwise is an utter moron.

Here’s an interesting quote from ABC:

The deal later came under scrutiny from independent government watch dogs and members of Congress, which said the administration had bypassed key taxpayer protections in a rush to approve the funds — claims the administration has denied.

Solyndra and the White House initially estimated that government financing for Solyndra would help create 4,000 jobs.

The company had received at least $475 million and created just 585 jobs, according to the most recent figures posted on Recovery.gov, which tracks Recovery Act projects.

This certainly isn’t the only company that Obama touted as shining examples and handed out millions in stimulus funds to that subsequently went belly up.

It’s probably not even the first solar companygiven the case of also now-bankrupt Evergreen Solar:

The White House sent out an April 22, 2009, communication claiming the Recovery Act had success in creating jobs.  The White House stated that because of the stimulus bill and new contracts, green energy companies were looking to hire. The White House then cited Evergreen Solar hoping to hire as many as 100 people.

The state of Massachusetts put out a press release citing Evergreen Solar’s involvement with a project funded by the stimulus.

Evergreen Solar put out its own press release in October 2010 that their panels were all compliant with the ARRA and could be used by projects funded by the stimulus

This agenda is a cancer on the nation.  It is a cancer on the economy.  It is a cancer on jobs.

Just like the demonstably failed Obama presidency.

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