Once again the Democrat and their policies though well intentioned are suffering from the Law of Unintended Consequences.
BP Solar, a solar-cell manufacturing in Frederick, Maryland, dates back to the mid-1970s. It was an American success story that was so profitable it was in the middle of building a $97 million expansion to create more jobs in the solar panel industry. Now the BP Solar building is being demolished and 320 people in Maryland are unemployed.
What happened?
The answer is, the federal government got involved and destroyed the free market generated profitability of the making of solar panels. Here's how: the Obama Administration has spent billions of dollars to create “green jobs.” Through his tax incentives and credits for those businesses that manufacture renewable energy products, he created a glut in the marketplace. With so many businesses now producing solar panels (most of them overseas in anticipation of a booming U.S. market), the cost of panels has been nearly cut in half, making it impossible for businesses like BP Solar to stay in business in the U.S. In an effort to create green jobs, hundreds of green jobs that had been around for 30-plus years were lost. Ironic isn’t it?
Chutzpah--BHO redefines it
From today's stories:
"President Barack Obama said Thursday he's amused by the anti-tax tea party protests that have been taking place around Tax Day. Obama told a fundraiser in Miami that he's cut taxes, contrary to the claims of protesters.
"You would think they'd be saying thank you," he said.
At that, many in the crowd at the Adrienne Arsht Center for the Performing Arts stood and yelled, "Thank you!"
BP Solar, a solar-cell manufacturing in Frederick, Maryland, dates back to the mid-1970s. It was an American success story that was so profitable it was in the middle of building a $97 million expansion to create more jobs in the solar panel industry. Now the BP Solar building is being demolished and 320 people in Maryland are unemployed.
What happened?
The answer is, the federal government got involved and destroyed the free market generated profitability of the making of solar panels. Here's how: the Obama Administration has spent billions of dollars to create “green jobs.” Through his tax incentives and credits for those businesses that manufacture renewable energy products, he created a glut in the marketplace. With so many businesses now producing solar panels (most of them overseas in anticipation of a booming U.S. market), the cost of panels has been nearly cut in half, making it impossible for businesses like BP Solar to stay in business in the U.S. In an effort to create green jobs, hundreds of green jobs that had been around for 30-plus years were lost. Ironic isn’t it?
Chutzpah--BHO redefines it
From today's stories:
"President Barack Obama said Thursday he's amused by the anti-tax tea party protests that have been taking place around Tax Day. Obama told a fundraiser in Miami that he's cut taxes, contrary to the claims of protesters.
"You would think they'd be saying thank you," he said.
At that, many in the crowd at the Adrienne Arsht Center for the Performing Arts stood and yelled, "Thank you!"
Not since Woodrow Wilson ran for reelection on the slogan, "He kept us out of war" has an American president been so dishonestly bold. He must think no one is paying attention to the tax increases in his Healthcare bill, the expiration of the Bush tax cuts, the stealing from Medicare to fund HCR, his proposed increases in costs of energy due to cap and trade, and even the talk of a VAT tax. Saying thank you to President Obama for this is like thanking a bank who lowers your interest rate right before they evict you.
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