I keep hearing Obama talk about creating 5 million new green jobs; and was curious about how he planned to do this. I Googled it and found this article.
He plans to spend $150 Billion dollars over 10 years to create 5 million green jobs.
Doing the math on this, shows he'll spend about $3,000 a year over 10 years per new job.
I'm wondering what kind of jobs he plans to create for $3,000 a year; maybe he plans to reduce the minimum wage to $1.25/hr.
Also, are these jobs 'net new' jobs, or will they simply be jobs that replace those jobs that are lost due to higher energy costs, making US products less competitive with other countries who are producing products using cheaper energy?
Case in point: Butterball just laid off 250 people, as they put it: "feed costs are soaring because ethanol production is driving up the price of corn". I'm sure someone has a new job at an ethanol plant, but not sure that's doing much good for these folks; so much for helping out those blue collar workers at Butterball.
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