The only take away from this Guardian article is that either Obama doesn’t understand basic economics, or he does, and wants to destroy the US economy.
He went on to lay out an ambitious agenda, beginning with targets aimed at reducing greenhouse gas emissions to 1990 levels by 2020. Obama also reiterated a campaign pledge to invest $15bn (£10bn) a year in clean technology – including clean coal and nuclear power.
In July 1990 the US GDP (adjusted) was $7.1 trillion. In July 2008 it was $11.7 trillion.
If Obama is serious he wants the US economy to loose trillions of dollars and forego any new growth for the next 12 years. You can’t lower greenhouse gas emissions without decreasing economic activity. You can wave all the Wind/Solar/Unicorn Fart plants around that you want but there is no technology that can decrease greenhouse gas emissions to 1990 levels. Does he think that somehow a $15 billion “investment” will magically make up for the loss of trillions of dollars? Does anyone?
“This investment will not only help us reduce our dependence on foreign oil, making the United States more secure. And it will not only help us bring about a clean energy future, saving our planet. It will also help us transform our industries and steer our country out of this economic crisis by generating 5m new green jobs that pay well and can’t be outsourced.”
Numbers pulled out of his ass. There is no possible way the transfer of $15 billion from the taxpayers can create 5 million net new jobs. Remember, the government can’t create anything. It only moves money around at a loss, so if a politician claims he’s gonna create 5 million new jobs, that means more than 5 million people will loose theirs.
At the same time that Obama is promising to destroy the US economy Germany and Italy say that limiting greenhouse gas WILL harm their economies .
Of course this may all be political posturing on Obama’s part because he knows Congress will never go along with it even with a Democrat majority.