The “New Socialism” – as columnist Charles Krauthammer adroitly calls the global governmental power grab and wealth redistribution schemes lurking beneath the “green economy” – has kicked into high gear in Washington, D.C. already this year.
Struggling to respond to a surprisingly bad December jobs report – and struggling to explain the clear failure of President Barack Obama’s massive bureaucratic bailout to stimulate the economy – U.S. government officials are turning to a familiar refrain, “green jobs.”
Of course, this familiar song and dance ignores the fact that a huge chunk of the failed “stimulus” went to fund these jobs in the first place.
Undeterred by this lack of stimulation – as well as the ongoing unraveling of the climate change myth – Obama’s “solution” to this crisis is apparently to continue doing what hasn’t worked.
In fact, the red ink had yet to dry on the Department of Labor’s latest disappointing employment data before Obama was in front of a Teleprompter announcing that the U.S. government was going to spend another $2.3 billion on tax credits for “green jobs.”
He also challenged the U.S. Congress to approve $5 billion worth of additional “green manufacturing” tax credits.
Obama is clearly seeking to move beyond picking winners and losers in the marketplace (another proven non-starter), as these sorts of policies represent government manipulation of the marketplace at a very macroeconomic level. In the case of “green jobs,” government is mandating (and subsidizing) the creation of inefficient, unreliable and in some cases totally nonexistent sources of energy – all of which in turn creates a net cost to the economy that isn’t being recouped.
Exacerbating the problem would be the Obama administration’s proposed “cap and trade” energy tax hike and a series of sweeping new EPA carbon regulations. Not surprisingly, these new EPA mandates are likely to become even more sweeping in the event Congress doesn’t give Obama the carbon tax revenue he desperately needs to continue funding his unprecedented government expansionism.
In spite of all this, Obama maintains that “cap and trade” is all about creating jobs, even as it would dramatically increase energy costs on families and small businesses across the country while putting dozens – if not hundreds – of larger companies out of business.
Take the example of Spain, which Obama has repeatedly cited as a blueprint for America’s “green jobs” effort.