Location: Pantego, Texas, United States

Wednesday, December 10, 2008

Barack Obama and his team appear to have no understanding of basic economics based on his plan to create 5 million new 'green' jobs, assuming that this was not just campaign rhetoric that he never meant. Here is a description of how his plan is like the "broken window fallacy."

Barack also mentioned during the campaign that he would put the coal industry and coal-fired power plants out of business. That will clearly put a lot of people out of work. I guess Obama meant 5 million new jobs, not a net increase of 5 million jobs.


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