This country is in trouble and it doesn’t matter if you support Democrats or Republicans what matters is that you look at what is happening. Reflect on how our government attempts to solve a problem.
Can we all at the outset agree that our economy is weak and that employment is a significant problem? Can we now look at one example without political rhetoric and finger pointing to see how “our government” looks toward a solution?
Can we have a consensus of opinion that the American auto industry is not what it once was? Now we can differ as to what role the government could, should or will take to support that industry but we have to accept the fact that “our government” has taken some action. The question today is this, has “our government” served this nation well doing what is smart and efficient with the taxpayers trust and money?
In 2010 a new hybrid battery manufacturing facility was opened in Michigan and our government was a large contributor giving the owners 150 million dollars (half their cost of construction) in a grant plus $50 million in property taxes over 15 years and another $2.5 million annually in business taxes. That totals to 202.5 million dollars but the question is, was it a good investment for the taxpayers and the nation?
Here we are two years later and we can now begin to measure the results, we have created 200 jobs with workers each being furloughed one week a month to collect unemployment. That’s right, you and I the American taxpayers put up $1,000,000 per job and what have we got, people working part-time and collecting unemployment. But, wait there’s more to the story.
The company we gave the money to is not an American company like General Motors or Ford, no the company is LG Chem from South Korea. When the ground breaking took place in 2010 “our government” told the workers, “You are leading the way in showing how manufacturing jobs are coming right back here to the United States of America,”
“Our President”, told workers at the ground-breaking ceremony. “Our goal has never been to create a government program, but rather to unleash private-sector growth. And we’re seeing results.” He did not mention the cost or the fact we are using borrowed money to invest in these jobs.
This investment on behalf of the American people was done by “our government” and not by the private-sector banking industry and perhaps that was required because the banks reviewed the project first and considered it too risky as an investment. Why you ask are the workers still collecting unemployment after taxpayers have spent so much to create a job for them?
It seems they have not yet produced and sold a single battery and the market for their proposed product is very limited. Electric cars may be part of the change “our government” wants to make and they may hope this works out but the economic numbers just don’t look promising for the future.
Spending a ton of taxpayer dollars hoping to change the American automobile industry into increased demand for our electric industry does not mean the taxpayers will invest their own money into the purchase of such a car. You see taxpayers look at spending with an eye to value and return on their investment and that is something “our government” should do.
Borrowing $1,000,000 to create a single part-time job is lunacy. It’s time to stop the madness.