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Breakfast Scramble: Obama’s Economics

DavidL's Breakfast Scramble
Dumbo does not do economics, more evidence that Barack Obama lacks any understanding of economics, from Fox News [1]:

It was explained to Obama that the permitting process can delay projects for “months to years … and in many cases even cause projects to be abandoned … I’m sure that when you implemented the Recovery Act your staff briefed you on many of these challenges.” At this point, Obama smiled and interjected, “Shovel-ready was not as … uh .. shovel-ready as we expected.” The Council, led by GE’s Jeffrey Immelt, erupted in laughter.

The Obama administration promised the Recovery Act (“the stimulus”) would prevent the jobless rate from going over 8%. It now stands at 9.1%

Video at the link.

More Darren Samuelson, Politico [2]:

President Barack Obama heads to an energy plant in North Carolina on Monday to talk once again about the job-creating power of a green economy.

The catch? Nearly three years into Obama’s presidency, the White House can’t point to much solid evidence that significant numbers of Americans are scoring the green jobs the president has been touting.

Neither does Obama understand that electric cars not so green, from Ben Webster, Australian [3]:

ELECTRIC cars could produce higher emissions over their lifetimes than petrol equivalents because of the energy consumed in making their batteries, a study has found.
An electric car owner would have to drive at least 129,000km before producing a net saving in CO2. Many electric cars will not travel that far in their lifetime because they typically have a range of less than 145km on a single charge and are unsuitable for long trips. Even those driven 160,000km would save only about a tonne of CO2 over their lifetimes

Hat tip: Ed Morrissey, Hot Air [4]

I don’t see the metal chemical battery has an efficient means of storing energy.  Remember the chief virtue of battery mobile is not that it eliminates pollution, but rather it transfer it from the automobile to the power plant..

Mitt Romney  takes dead aim at Obama, video:

Hat tip video: Jim Geraghty, National  Review [5].