President Obama Touts Jobs Bill While Fisker Sends Stimulus Jobs to Finland

nancy pelosiWhile President Obama is busy touring the country to promote his wildly unpopular American Jobs Act, it’s impossible not to compare it to his other spending bills and the impact they have had on the economy.

Before Obamacare was passed, Nancy Pelosi said that it would create 400,000 jobs almost immediately. Now well over a year since its passage, it’s safe to say that that didn’t exactly pan out. In fact, there seems to be a direct correlation between the law taking effect and the abrupt halt of the slowly recovering economy.

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The 2009 stimulus was supposedly full of shovel-ready jobs. Instead, billions and billions of dollars were given to ridiculous projects like studying the effects of smoking marijuana, skylights for liquor stores, and the now infamous sea turtle tunnel. Not all of the projects were merely frivolous -- ask the family of Brian Terry how they feel about the bill that paid $10 million to put guns in the hands of Mexican drug cartels that wound up being used to murder him.

Let’s also not forget about the $535 million given to Solyndra, a solar panel company with ties to the Obama administration, which recently declared bankruptcy and paid its investors back while leaving the taxpayers high and dry. Recently, it’s been brought to light that Solyndra isn’t the only green company to take advantage of stimulus dollars without benefiting the American economy.

Start-up electric car company Fisker was granted a $529 million loan through the American Recovery and Reinvestment Act. Vice President Joe Biden said the loan was “a bright new path to thousands of American manufacturing jobs.” Two years later, the company has rolled out a mere handful of its Karma cars, $100,000 luxury electric sedans that get worse mileage than most SUVs.

Adding to the absurdity of the Fisker situation is the fact that the cars were not assembled here in the United States, but in Finland. Those are your tax dollars, America, hard at work stimulating the Finnish economy. 

"There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here." Henrik Fisker said the U.S. money has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive. 

That’s not exactly how budgets work. Money comes in, and money goes out. It’s impossible to earmark certain funds for certain projects. Fisker got half a billion dollars from our government, and created 500 manufacturing jobs in Finland. Not cool, Fisker.

Whether intentionally or not, Henrik Fisker points out a surefire way to get jobs back in the United States. Cutting oppressive government regulations would allow companies to grow and expand domestically. Our corporate tax rate is the second highest in the world, our EPA regulations are out of control, and we have a bunch of kids occupying Wall Street that want a $20 minimum wage, regardless of employment status. Geez, one can hardly blame Fisker for sending those jobs to Finland.

President Obama, the way to bring economic growth to America again is not to fork over a bunch of our money to your crony buddies. It’s to untie some of the binds holding businesses back. 

 

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