Tank thinker, Samuel Sherraden, lays out a more reasonable estimate on the economic impact of the heavily-subsidized green companies. It is a fact-filled appriasal which contrasts starkly with Obama’s rhetoric on how the green initiatives (in the cap and trade bill) will help save the economy. He does not come right out and say that the subsidies are so heavy, these are practically government jobs. And he does not come right out say Obama’s lying. But the point is clear; like most politicians these days, if his lips are moving…
WASHINGTON (CNN) — After the release of a miserable June jobs report, President Obama stood with a group of green company CEOs and told reporters that “men and women like these will help lead us out of this recession and into a better future.”
But if the White House puts too many eggs in the green recovery basket, we may all be disappointed. The green sector is simply not large enough or competitive enough to be a major engine of job creation.
The CEOs who stood with Obama lead smart, innovative and, in many cases, rapidly growing firms. But green firms in the United States are small and employ relatively few people.
On a side note, it is a refreshing change to see CNN publishing something other than pro-Obama press releases. Click here to read the entire piece at CNN.com.