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1) Creating Five Million "Green Jobs"
In his acceptance speech, echoing scores of similar claims throughout the 2008 DNC, candidate Obama vowed that, "I'll invest 150 billion dollars over the next decade in affordable, renewable sources of energy—wind power and solar power and the next generation of biofuels; an investment that will lead to new industries and 5 million new jobs that pay well and can't ever be outsourced."
The investment part of the pledge is well-spoken for—$80 billion in the stimulus alone. But as The New York Times concluded one year ago (and as Reason has long predicted), "Federal and state efforts to stimulate creation of green jobs have largely failed." Central planning of the alternative energy business was a disaster under Jimmy Carter, and it has been a wipeout under Barack Obama.