A while ago we wrote about stimulus funds being offshore outsourced and 84% of green job stimulus funds are going offshore and some 22,000 green jobs created offshore.
It seems the MSM is finally catching on and reporting that Stimulus is actually stimulating other countries economies, including China. ABC News is reporting $2.1 billion of renewable energy stimulus funds have gone offshore.
From another report:
Of the more than $2 billion the federal government has given out to boost the economy and create green-energy jobs, more than three-quarters has gone to foreign-owned companies that dominate the global wind-power industry. This latest finding by the Investigative Reporting Workshop, a nonprofit at American University in Washington, D.C., is illustrated clearly in San Diego County, where about a dozen commercial wind developers have offices.
So, the question is, if this is going on, what other large taxpayer giveaways have been given offshore? How many jobs were created offshore by companies obtaining funds? How about the use of foreign guest workers for U.S. taxpayer funded projects?
According to Watch Dog Institute, the ARRA (Stimulus) actually made it more advantageous for foreign corporations to obtain funds.
Large American-owned companies—those with substantial tax liabilities—had an advantage prior to the American Recovery and Reinvestment Act of 2009, Anderson said, because they could more easily utilize tax credits the federal government offered. Foreign-owned companies, on the other hand, needed U.S. partners to benefit from the tax credits.
Now the playing field is more level. Just like domestic companies, foreign companies can receive direct payment in the form stimulus grants upon completion of a wind project.
Where there is smoke, there is usually fire, so maybe this report will invoke an investigation of the entire Stimulus, not just a focus on alternative energy.
In order to Stimulate the U.S. economy, government expenditures must be tied to U.S. citizens, legal permanent residents, domestic production, work performed in the U.S. and projects domestically sourced (Buy American).
Stimulus will be not be effective otherwise.
Again, sadly predictable
All predictable, sadly, as we've observed from Obama's earliest appointments of chief offshorers, Diana Farrell, Laura Tyson, and so many of the others.
We know our foreign policy will continued to be screwed, just as it was under Bush with the appointments of Richard Holbrooke (sure hope you do as good a job in Afghanistan as you did on the BoD of AIG) and Robert Hormats!
That brilliant scholar, Joseph A. Tainter, explains in his book on ecological economics how science is humanity's top form of problem-solving.
Unfortunately, with the offshoring of technical jobs (really beginning with machinist and factory mechanic jobs), and technology and R&D jobs, this corporate-owned government is offshoring those problem-solving abilities as well.
Is all lost?