Expectations are pretty low, apparently…
“The thing I’m proudest of that we were able to get done in the first term was the Recovery Act.”
–Vice President Joe Biden, interview with Rolling Stone
The “stimulus”? Really?
The vice president’s admission actually came in response to a question about how the administration has made “inroads in the climate fight.” Let’s put Biden’s “proudest” moment in a little context:
Without much fanfare, the Department of Energy (DOE) recently updated the list of loan guarantee projects on its website,” the Institute for Energy Research noticed on Wednesday. ”Unlike in 2008, when Barack Obama pledged to create 5 million jobs over 10 years by directing taxpayer funds toward renewable energy projects, there were no press conferences or stump speeches.” [...]
Maybe it’s because the IER divided the $26 billion spent on “green jobs” by the Energy Department since 2009, divided it by the 2,298 permanent jobs created, and came up with a cost of $11.45 million per job.
Ah, the miracle of Obamanomics! At those prices, we could easily restore the 5 million jobs blown out of the economy since 2009 by spending a mere $57 trillion.
Awesome job, Joe.