From the Institute for Energy Research:
Without much fanfare, the Department of Energy (DOE) recently updated the list of loan guarantee projects on its website. Unlike in 2008, when Barack Obama pledged to create 5 million jobs over 10 years by directing taxpayer funds toward renewable energy projects, there were no press conferences or stump speeches. But the data are nonetheless revealing: for the over $26 billion committed since 2009, DOE Section 1703 and 1705 loan guarantees have created only 2,298 permanent jobs – that’s $11.45 million per job.
Yay for government intervention to steer our economy in the right direction. Let us sing the praises of our wise government bureaucrats and the expropriation of wealth by force from one group of people to be handed to another, our magnificent legislators who surely know better than the free market how most efficiently direct scarce resources to their most productive ends.
Breitbart adds that
80% of Department of Energy loans went to companies owned by or connected to President Barack Obama’s top campaign fundraisers.
Surely just a coincidence, as our munificent overlords cannot have anything but the best interests and general welfare of the American people at heart.
(h/t Natural News)
