In an unaired bit of his recent 60 Minutes interview, President Obama continued to defend his at-this-point-entirely-indefensible policies aimed at forcibly remaking America’s economy into the green utopia of environmentalists’ most romantical visions.
Earth to President Obama: Those wind-energy jobs in Iowa you’re so dearly fond of touting, are imaginary. Yes, there certainly are people who currently hold employment in the wind-energy industry in this country, but the mere existence of jobs in no way means that these are productive, profitable jobs that contribute to private-sector economic growth. The jobs he’s referring to are, in fact, a drain on our economy: The federal government subsidizes the heck out of the wind industry, which means that all of these supposedly fabulous jobs come at the opportunity cost of all those dollars we’re pouring into the industry being spent productively elsewhere.
Notice how the wind industry is so wildly desperate to keep the wind production tax credit around? That would be because they know that their businesses cannot survive without it — a.k.a., wind energy is not capable of standing up to the test of free-market competition. A.k.a., imaginary. Imaginary jobs do not spur growth, and quixotically bankrupting ourselves with public “investments” in the quest to fulfill our own green prophecies is certainly not going to help us compete in the global economic arena.