Obama's Stimulus Tax Dollars Used to Create Jobs Overseas
What do Finnish cars, Mexican solar panels, and Danish windmills have in common? They were all funded by your tax dollars.
Thanks to President Obama, taxpayer money, mostly in the form of stimulus funds, ended up in the hands of companies overseas. Instead of creating jobs in America, the stimulus and other Obama policies created jobs or sent money to Finland, New Zealand, Indonesia, India, Mexico, Germany, Australia, Switzerland, China, Denmark, South Korea, the Dominican Republic, Thailand, Vietnam, Italy, Russia, Luxembourg, El Salvador, Great Britain, Spain, Japan, and France.
How did this happen? Consider the example of Fisker Automotive. The company received $500 million in loan guarantees from the U.S. government to produce electric cars. Then they took their money and decided to produce their $100,000 electric sports cars in Finland.
President Obama's policies may be spurring job creation in Scandinavia. But here at home, twenty-three million Americans are struggling for work. Millions of middle class families can barely make ends meet.
The billions of dollars that went overseas largely had to be borrowed. In other words, President Obama borrowed money from countries like China to send money to... countries like China. It's that kind of reckless spending that led President Obama to rack up $5.6 trillion in debt over the last three and a half years, bringing our total national debt to $15.8 trillion.
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