Dem Plan For Jobs: Borrow Even More from China

After Spending $800 Billion on Their Failed Stimulus, Democrats Call for More China-Funded Failed Stimulus Spending

• Democrats are being forced to admit responsibility for their failed economic policies because of mounting bad news about the economy.
• Instead of changing course, however, Democrats are doubling-down with calls for even more stimulus spending—the failed policy funded by borrowing from countries like China and running up the nation’s debt even higher.
• Worse yet, the failed Democrat stimulus may have created “green jobs” in China. Why would Americans want to borrow more from China to create more jobs in China?

BACKGROUND:

Speaking to reporters Monday morning, departing White House economic advisor Austan Goolsbee suggested that Democrats’ economic policies to date have failed, arguing that, moving forward, the White House must understand that “we have to add jobs”:

” ‘We have to grow, and we have to add jobs,’ Goolsbee told reporters on a conference call Monday morning. … He added, ‘I hope they will keep that in mind.’ ” (Matt Negrin, “Goolsbee: ‘We Have to Add Jobs’,” Politico, 6/20/2011)

Goolsbee’s comments come as President Obama himself has admitted the failure of his $800 billion stimulus paid for with money borrowed from China. Obama and other Democrats, however, are calling for yet another stimulus spending spree that must be funded by borrowing from China:

OBAMA JOKES ABOUT HIS FAILED STIMULUS … HA HA?: “Obama smiled and interjected, ‘Shovel-ready was not as … uh .. shovel-ready as we expected.’ The Council, led by GE’s Jeffrey Immelt, erupted in laughter.” (“Obama Jokes at Jobs Council: “Shovel-Ready Was Not as Shovel-Ready as We Expected,” Fox News, 6/13/2011)

BUT OBAMA SAYS CONTINUING HIS SPENDING SPREE IS A “WIN-WIN-WIN-WIN”: “We should be able to agree on investing in the research and technology that leads to new ideas and new industries. … It is a win-win-win-win proposition.” (“Remarks by the President at Cree, Inc., in Durham, North Carolina,” The White House, 6/13/2011)

AND SEN. CHUCK SCHUMER (D-NY) SAYS THE STIMULUS FAILED, SO WE NEED ANOTHER ONE: “And we Democrats are going to put forth an agenda this summer and this fall, jobs first. … But two, and even more important create jobs and get the economy growing. An economist will tell you that one of the best ways to do that–we’re going to look at two things. One is, deficit–one is infrastructure and one is some kind of encouraging of employment.” (Remarks from Sen. Chuck Schumer, CBS’ Face the Nation, 6/19/2011)

SCHUMER SAYS THE NEXT STIMULUS SHOULD FOCUS ON “GREEN JOBS”… JUST LIKE THE LAST ONE? “And we have a bunch of different ideas to do that. Barbara Boxer has a highway bill. There’s an infrastructure bank, Build America Bonds and helping green jobs.” (Remarks from Sen. Chuck Schumer, CBS’ Face the Nation, 6/19/2011)

Even as Democrats admit their policies have failed, they are trying to rewrite the history of their policies and claim they turned the economy around. But if they already turned the economy around, why are they demanding even more spending?:

OBAMA THINKS HE “DESERVES CREDIT” FOR ECONOMIC POLICIES:“President Obama told supporters at a fundraiser in Miami Monday night that he deserves credit for cleaning up the mess he inherited.” (David Boyer, “Obama wants credit for cleaning up ‘big mess,'” Washington Times, 06/14/11)

WASSERMAN SCHULTZ: OBAMA “TURN[ED] THIS ECONOMY AROUND”: “We were able to, under President Obama’s leadership, turn this economy around.” (Remarks from Rep. Debbie Wasserman Schultz, NBC’s Meet the Press, 6/12/2011)

Americans know the firsthand the consequences of the Democrats’ failed policies, no matter how Democrats try to spin it. In addition to the failure of the stimulus to lower unemployment in America, this Democrat spending spree may have even sent taxpayer dollars earmarked for green jobs in America to create jobs in China. Now Democrats want to continue with more of the same?:

OBAMA’S LATEST GREEN JOBS PUSH HIGHLIGHTS COMPANYWITH MOST OF ITS EMPLOYEES IN CHINA: “President Barack Obama will visit the North Carolina-based Cree LED Light Company Monday to tour the plant and meet with his Council on Jobs and Competitiveness to discuss job creation and policies to spur economic growth.

“But Cree, a major recipient of Recovery Act funds, may be sending that money straight to China. At the very least, its CEO, Chuck Swoboda, has a very China-centered strategy that involves building a new plant overseas…

“Then in late 2010, the company opened its first plant in Huizhou City,China. That made Cree the first global LED company to locate a manufacturing plant in China.

“But that plant is only beginning of an expansion in China, says Swoboda.At the opening of the plant, Swoboda boasted that more than 50 percent of Cree’s employees live and work in China.” (Amanda Carey, “Obama Discusses Jobs at Company Shifting Focus to China,” The Daily Caller, 6/13/2011)

DÉJÀ VU: DEFEATED DEMOCRAT “NOW OFFICIALLY WORKING FOR CHINA”:  “The National Republican Congressional Committee last year ran ads asking ‘Is Baron Hill running for Congress in Indiana, or China?’ The background: Hill, a member of the Energy & Commerce Committee, was a big booster of renewable energy subsidies, some of which went to Chinese-owned windmill companies using Chinese labor.

“The question is even more poignant today, now that Hill has cashed out to APCO Worldwide, a lobbying firm whose headline client is COSCO, a shipping company owned by the Communist government of the People’s Republic of China.” (Timothy P. Carney, “Democratic Former Rep. Baron Hill Now Officially Working for China,” Washington Examiner’s Beltway Confidential Blog, 6/16/2011)