How to Pitch a $3.8 Trillion Budget: Obama Pushes Green Jobs, Renewable Energy
Photo via Bloomberg
Any proposed budget that pushes the nation into trillions more dollars of debt and does so during a massive recession is going to be a tough sell. And that's putting it lightly. With public outrage at the AIG bonuses and many questioning Obama's Treasury Dept's ability to handle the economy, he faces a major uphill battle in rallying support for his $3.6 trillion plan. Obama knows all this. His budget includes a number of important initiatives, like more funding for public transit and provisions for a carbon cap. So what's first thing Obama will pitch to drum up support for the gargantuan thing? The green jobs it will create, of course. According to Politico Obama is meeting with clean energy entrepreneurs today, to discuss his economic strategy. He's going to highlight the fact that his budget increases funding for research and development for renewable energy companies—by making a R&D; tax credit permanent at the cost of $75 billion over 10 years.
Obama will also point to the provisions in his budget designed to wean the US off foreign oil and help combat climate change.
He'll make the case that all this can be done while creating a slew of green jobs that will help stabilize the US economy, and keep America on the cutting edge of technological development. To do so, he'll point to two exemplary companies that have made big strides in renewable energy development: Orion, and its Apollo Light Pipe, and Solyndra, which already received a $535 loan guarantee from the DOE (the first such one issued from the stimulus bill) to expand facilities producing its innovative cylindrical solar film.
3,000 construction jobs will be created to expand the Solyndra facility, and 1,000 permanent jobs will be created to man the plant. Obama envisions projects like this springing up across the country over the next three years—he believes that doubling alternative energy production in that time will be an important foundation in his agenda. That is, less foreign oil, more renewable energy, more jobs, and a smaller carbon footprint.
Well, I'm sold.
More on Obama's Budget:
Goodbye, Yucca Mountain: Obama's Budget Cuts Nuclear Storage Plans
Obama's Cap and Trade Would Generate $645 Billion in "Climate Revenue