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Green as in Greenbacks

Recorded on August 15, 2011

From The Heritage Foundation, I'm Ernest Istook.

Here's more about the hype that green jobs will revive America's economy

Electric cars depend on special batteries, and the federal stimulus bill created $2.4-billion in grants to for making those batteries. $300-million went to one company, Johnson Controls.

The White House says that resulted in creating 150 jobs at Johnson Controls. That cost taxpayers $300-million, meaning each job cost taxpayers $2-million.

But despite subsidies, electric car batteries hold too little charge for too much cost. That's why the much-promoted Chevy Volt only sold 125 cars in July—even after government bought many of them. Most people obviously don't think they're worth the $40-thousand price for a vehicle that has to stay close to an electric outlet.

When green jobs cost taxpayers $2-million apiece, it's time to pull the plug on those subsidies.

From The Heritage Foundation, I'm Ernest Istook.