June 13, 2011

Not As Shovel-Ready As We Expected

Obama Admits At Company That Took Over $5 Million To Create Or Retain 3.03 Jobs That Stimulus Projects Werent As Shovel-Ready As We Expected
______________________________________________________________________

TODAY, PRESIDENT OBAMA ADMITTED THAT SHOVEL-READY WAS NOT AS SHOVELREADY AS WE EXPECTED
OBAMA: Shovel-Ready Was Not As Shovel-Ready As We Expected. (President Barack Obama, Remarks Before The
Presidents Council On Jobs And Competitiveness, Durham, N.C., 6/13/11)

Obama Realized Too Late That Theres No Such Thing As Shovel-Ready Projects [M]r.
Shear, "President Obama Looks Forward - And Back," The New York Times' "The Caucus" Blog, 10/13/10)

Obama reflects on his presidency, admitting that he let himself look too much like 'the same old taxand-spend Democrat,' realized too late that 'there's no such thing as shovel-ready projects (Michael D.

AP Fact Check Found That Many Of Obamas Stimulus Goals Were Overly Optimistic And Ignored Many Of The Challenges, Pitfalls, And Economic Realities Of The Projects. The Obama administration claimed this week that $100 billion invested in innovative technologies under the economic stimulus law is transforming the American economy by putting the nation on track for technological breakthroughs in health care, energy and transportation. But an examination of details in the 50-page report unveiled Tuesday by Vice President Joe Biden reveals something a bit different: a collection of rosy projections that ignore many of the challenges, pitfalls and economic realities in all those areas. (Frederic J.
Frommer, FACT CHECK: Stimulus Assessments Overly Optimistic, The Associated Press, 8/26/10)

The Associated Press Said That The Obama Administration Took The Rosiest Possible View Of Its Own Stimulus Program. Jack Stokes, an AP spokesman, responded in a statement to POLITICO: Our story provides context that is severely lacking in an administration report that takes the rosiest possible view of its own stimulus program. (Matt Negrin, W.H.: Stimulus Story Omits Full Facts, Politicos
Politico44 Blog, 8/26/10)

THE HOST OF OBAMAS EVENT TODAY RECEIVED A $5 MILLION GRANT AND CREATED OR RETAINED ONLY 3.03 JOBS
Cree Received A $5.2 Million Stimulus Grant From the Department of Energy in September 2010 That To Date Has Only Created Or Retained 3.03 Jobs. (Grants Award Summary: Cree, Inc.; Award Number DE-AR0000110,
Recovery.gov, Accessed 6/13/11)

Cree Received $39 Million Though The Advanced Manufacturing Tax Credit Included In The Stimulus. Recent Business Highlights: Awarded $39 million in tax credits as part of the American
Paid for by the Republican National Committee. 310 First Street SE - Washington, D.C. 20003 - (202) 863-8500 - www.gop.com Not authorized by any candidate or candidates committee.

Recovery and Reinvestment Act to support our investment to build energy efficient LED lighting.
(Press Release, Cree Reports Record Quarterly Revenue And Net Income For Second Quarter Of Fiscal Year, Cree, Inc., 1/19/10)

Maybe Because President Obama Bought The Advice Of Economists Who Said Any Spending, Even The Worst Kind Of Boondoggle Was Stimulative. For the Obama transition teams and their allies on the Hill, three questions loomed large in designing the package. The first was whether the proposed spending was economically stimulative: Did it save or create jobs, and thereby put money in peoples pockets? It turned out that economists believed almost any spending met this criterion. In a recession even the worst kind of boondoggle is stimulative, a fact that critics had a hard time comprehending. (Jonathan Alter, The Promise,
Simon & Shuster, 2010, p. 84)

2 Paid for by the Republican National Committee. 310 First Street SE - Washington, D.C. 20003 - (202) 863-8500 - www.gop.com Not authorized by any candidate or candidates committee.