Obama Awards $2B for New Solar Power Plants

(AP)  The government is handing out nearly $2 billion for new solar plants that President Barack Obama says will create thousands of jobs and increase the use of renewable energy sources.

Mr. Obama announced the initiative in his weekly radio and online address Saturday, saying the money is part of his plan to bring new industries to the U.S.

"We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America," President Obama said.

The two companies that will receive the money from the president's $862 billion economic stimulus are Abengoa Solar, which will build one of the world's largest solar plants in Arizona, creating 1,600 construction jobs; and Abound Solar Manufacturing, which is building plants in Colorado and Indiana. The Obama administration says those projects will create more than 2,000 construction jobs and 1,500 permanent jobs.

President Obama's announcement came a day after the Labor Department reported that employers slashed payrolls last month for the first time in six months, driven by the expected end of 225,000 temporary census jobs. Meanwhile, private-sector hiring rose by 83,000 workers.

The unemployment rate dropped to 9.5 percent.

Mr. Obama said that while it may take years to bring back all the jobs lost during the recession, the economy is moving in a positive direction. He placed some of the blame for the slow pace of recovery on Republicans, saying GOP lawmakers, "are playing the same old Washington games and using their power to hold this relief hostage."

President Obama has said that to bring the nation's economy back from the brink of a depression, it was necessary to add to the country's debt in the short term.

Republicans have tried to capitalize on that growing sum. Georgia Sen. Saxby Chambliss said in the Republicans' weekly address that the country's $13 trillion debt is a national security issue that will leave the U.S. vulnerable and force future generations to "pay higher taxes to foot the bill for Democrats' out-of-control spending."

[rightbehind]

The drill here drill now nut cases helped the republicans to get almost 70 billion dollars attached to the energy bill for nuclear plants. That's the least the amount we should be spending on solar.

[jxknowles]

Excellent use of funds. China and Germany, the world's two leading economies, are shelving plans for nuclear and building more solar. We are already behind the curve. Time to catch up.

[jxknowles]

It's about time. I drive around my neighborhood and I can see Chinese manufactured, solar-powered lawn lighting at every house. Think of the jobs we could have created if we had thought of this first. Too many people with their noses buried in their bibles. Being competitive takes hard work, not a mistaken notion that god is providing all.

[Klip1]

By my math, that's a mere 1,333,333.33 per job created. How can that not be spending money wisely?

[loogiman]

I am all for "Greener" energies. However, spending $2B on it when we are in an economic crisis, I think the money could be spent elsewhere. How about Education or Medicaid Benefits, which took the worst budget cuts in the history of cuts?

[enwr77]

This is excellent. More products can be modified to run on solar energy, including cars. Not only will there be jobs for the plant workers, but for businesses that will feed off the industry/plant. America needs to go back to producing real products and not worthless paper called financial investment. Manufacturing needs to come back to this country. Whether we produce solar power or other non-fossil power, other countries will. Our money will go again to other countries to buy something that should be produced here. We have to keep being the innovators. This is intelligent thinking. I am happy for my American brothers and sisters that will be able to find jobs in this new industry.

[daffy64]

Hopefully, solar energy and electric cars will flop so Canada and Mexico can keep selling the US oil.

[PoopinDog]

Obama takes on election-year fears over big debt (AP)
? Yahoo! News - Submitted: Jun 30, 2010
AP - Sensitive to election-year resentment over big government, President Barack Obama declared Wednesday he intends to get "our debt and our deficits under control." With fears alive of a double-dip recession, Obama warned that he won't slash spending at the expense of the economic rebound.

Three days later he spends $2Billion.

[velma179]

It's not new spending... the money was already set aside for projects like this -- all that has happened is that the contracts have been awarded to the PRIVATE ENTERPRISES that can best do the job -- and in that create jobs for people that need them. This is bringing manufacturing back to the USA. Why do hate creating jobs and bringing industries back or starting new ones in the USA?

Sheesh

Wow, you folks really just don't like to think, do you? It's accuse and complain all day with you... and that's so sad.

[sjc_1]

"a conditional commitment for a $1.45 billion loan guarantee to Abengoa Solar"

This is a loan guarantee and NOT a grant.

[bigredlou]

This article does not say how much energy we can produce with this initial $2B investment. Somehow this doesn't seem to matter to many people in this forum. Everyone wants to know how many MPG they get when they buy a car, but it doesn't matter when spending other people's money.

Hint...we don't have $2B....we have to borrow it and you have to pay it back. If it were such a good investment, why did Boone Pickens pull out.

[ken1dall]

More public money thrown down the black hole of government waste and dumb ideas. When will this end?

[doctor_know]

I say it is money well spent!