Obama Says Romney’s Tax Plan Creates Jobs Overseas, Forgets His Own Green Energy Loans

All American Blogger:

President Barack Obama continued his cross country stand up tour today in Cincinnati, Ohio, claiming a non-partisan economist said Mitt Romney’s tax plan would create 800,000.

The punchline was, they would all be overseas:



“We have not found any serious economic study that says Governor Romney’s economic plan would actually create jobs, until today,” Obama said. “I’ve got to be honest: Today we found out, there’s a new study out by [a] non-partisan economist that says Governor Romney’s economic plan would in fact create 800,000 jobs. There’s only one problem: The jobs wouldn’t be in America. They would not be in America.”

The non-partisan economist Obama mentions isn’t so non-partisan. He’s actually a campaign donor:

At a speech earlier today in Cincinnati, Ohio, President Obama cited economic analysis conducted by one of his campaign donors, Kimberly Clausing, and called her a “non-partisan economist.” Clausing, a college professor from Reed College, has donated to President Obama and several Democratic politicians and causes over the last dozen years.

And let’s not let that punchline go untouched. If Obama really wants to hit Romney on his tax program creating jobs overseas, let’s talk green energy then:

Despite all the talk of green jobs, the overwhelming majority of stimulus money spent on wind power has gone to foreign companies, according to a new report by the Investigative Reporting Workshop at the American University’s School of Communication in Washington, D.C.

Nearly $2 billion in money from the American Recovery and Reinvestment Act has been spent on wind power, funding the creation of enough new wind farms to power 2.4 million homes over the past year. But the study found that nearly 80 percent of that money has gone to foreign manufacturers of wind turbines.
So Where Are the Jobs?

“Most of the jobs are going overseas,” said Russ Choma at theInvestigative Reporting Workshop. He analyzed which foreign firms had accepted the most stimulus money. “According to our estimates, about 6,000 jobs have been created overseas, and maybe a couple hundred have been created in the U.S.”

And this:

Obama’s 2009 economic stimulus spending law–the $787 billion American Recovery and Reivnestment Act–gave millions of federal dollars to foreign companies or funded domestic companies that built factories in foreign countries or bought foreign products.

For example, there is the North Carolina LED manufacturer Cree Inc. Cree was awarded $39 million through a stimulus-funded tax credit program in January 2010. However, half of the company’s employees are in China and the company opened a manufacturing plant in Huizhou City, China in November 2009, according to an article in the industry publication LEDs Magazine.

…

Another example of stimulus outsourcing is Japanese wind energy firm Eurus Energy, whose U.S. subsidiary, Eurus Energy America, received $91 million in stimulus funds to build a wind farm in Texas, according to a 2010 report from American University. That wind farm reportedly was built with wind turbines manufactured by another Japanese company – Mitsubishi.

…

Another example of the Obama administration funding foreign companies is a $337 million loan guarantee from the Department of Energy’s green energy lending program.

That loan went to California energy firm Sempra Energy for a solar power array in Arizona. However, according to a Feb. 4, 2011 New York Timesreport, Sempra Energy bought its solar panels from the Chinese firm Suntech.

…

Perhaps the best-known example of Obama administration funding of foreign companies is its $500-million loan guarantee to Finnish automaker Fisker Automotive. That loan, part of the Energy Department’s electric vehicle lending program, was made to help Fisker establish a U.S. manufacturing presence.

However, the company never established an American factory, choosing instead to shutter its U.S. operations and continue building cars in Finland.

How Obama thinks this line of attacking Romney will help his campaign is beyond me. It reminds me of a Fox and Friends clip I saw today:



When you want to know what a liberal’s doing, listen to what they claim Republicans are up to. Often, they’re projecting.