President Obama's Jobs Czar, Jeffrey Immelt, the CEO of General Electric, Immelt, closed his last U.S. plant making light bulbs in Virginia and opened a plant in China to manufacture more expensive light bulbs that Americans will be forced to buy. General Electric also opened a $61 million factory in Vietnam to produce wind turbine components. General Electric and the President's Jobs Council, headed by Immelt, received over $1.2 billion in Stimulus funds. General Electric placed an order with an American wind turbine manufacturer, ATI Casting, but then canceled it in order to get the parts cheaper from China. ATI offered to match the Chinese price, but GE refused to reinstate its order to the U.S. company, so ATI was forced to lay off over 300 American workers.
Obama promised that he would "invest $15 billion a year in renewable energy sources to create 5 million new energy jobs over the next decade -- jobs that pay well and can't be outsourced." Obama painted the picture of a future in which Americans will build solar panels, wind turbines and a new electricity grid. The trouble is, foreigners can make those things cheaper than we can.
Obama proclaimed his goal to put one million electric cars on the road by 2015, then set up a $2.4 billion Stimulus program to support battery production. But nearly half that money went to foreign firms, including two South Korean companies that used their grants to hire foreign nationals in Michigan to do work that Americans could have done. We surely don't see many electric cars on the road. After receiving a $500 million U.S. loan guarantee, Fisker Automotive is producing its $100,000 luxury electric sports car in Finland. Tomorrow I'll give you more examples of the way your tax dollars are being spent to provide jobs overseas instead of to Americans.
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