Meanwhile, nations like China and India realized that with some changes of their own, they could compete in this new world. And so they started educating their children earlier and longer, with greater emphasis on math and science. They're investing in research and new technologies. Just recently, China became home to the world's largest private solar research facility, and the world's fastest computer.Obama also emphasized government investment in green energy jobs, calling for the complete removal of subsidies for oil companies and giving those subsidies to green energy initiatives. This government intervention and manipulation of the market will only result in higher energy costs, loss of jobs due to rising costs and less efficient use of tax payer dollars. You can read more about the move by the Obama Administration to favor green energy over fossil fuels here.
With more research and incentives, we can break our dependence on oil with biofuels, and become the first country to have 1 million electric vehicles on the road by 2015.Obama credited the free enterprise system for driving American innovation, but what we know is that innovation has been stifled by government regulation. In order to reach this goal, Obama will have to acknowledge that red tape does not create jobs and only makes it more difficult for business owners to hire new workers. Obama vowed to take a look at burdensome regulation while keeping close the option to implement what he called necessary legislation to regulate business.
We need to get behind this innovation. And to help pay for it, I'm asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies. I don't know if you've noticed, but they're doing just fine on their own. So instead of subsidizing yesterday's energy, let's invest in tomorrow's.
To reduce barriers to growth and investment, I've ordered a review of government regulations. When we find rules that put an unnecessary burden on businesses, we will fix them. But I will not hesitate to create or enforce commonsense safeguards to protect the American people.Overall, Obama tied government regulation/de-regulation, investment/spending, global competitiveness and green jobs initiatives to the overall economy and jobs picture. With so many calls for "investment" and subsidizing an inefficient green energy/job plan, it is hard to believe Obama is taking his calls to tackle the deficit seriously.