“I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight.”
$2.5 billion was supposed to be given to the states as part of the Energy Department’s grant program from Stimulus I (Stimulus II is what will be announced by the President tonight). Yet as of March, only a third of those funds have been spent.
This hasn’t happened since 1945. As NetRight Daily puts it, “It is almost mind boggling to think about what may turn out to be this President’s singular accomplishment – ending a 792 month job creation winning streak for the American economy.”
Will this signal a change in President Obama’s policies? Hardly. Instead, it seems he will double-down on previously failed ideas – aka the stimulus.
First, a new study being published by the journal Energy Policy which claims that lead batteries used in solar panel production is more dangerous than conventional batteries because they release over 2.4 million tons of lead pollution into India and China, where most solar power is created.
“According to CBO projections, before Obama’s stimulus became law, federal debt equaled 36 percent of GDP and was projected to decline slightly over the next few years. Instead, thanks in large part to the stimulus, debt reached 62 percent of GDP by 2010.”