**Written by Doug Powers When the story of the Department of Energy’s green loan program is written someday, the entire book will be contained in chapter 11 : After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection. The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use. But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A month later, the company’s president, chief executive, and top financial officer were fired. On Thursday, Ener1 announced it will initiate a pre-packaged Chapter 11 bankruptcy plan as part of an agreement to restructure the company’s debt obligations. The problem? Something the government often fails to take into account when spending tons of other people’s money because they think it can be artificially created later on: Product demand : In a statement announcing the company’s bankruptcy, CEO Alex Sorokin said that the company’s business plan was crippled by insufficient consumer demand. “We moved aggressively to reduce costs and shift focus when the marketplace did not evolve as quickly as anticipated. Our business plan was impacted when demand for lithium-ion batteries slowed due to lower-than-expected adoption for electric passenger vehicles,” Sorokin wrote. Translation: You’re not buying Volts fast enough, America! Not long ago, Ener1 was the proud recipient of a big sloppy Recovery Summer kiss of death from our very own Sheriff Joe Biden: There will be others . **Written by Doug Powers Twitter @ThePowersThatBe

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Stimulus-Backed ‘Green’ Bankruptcy of the Week: Ener1

Coming Soon: ‘Work Opportunity Summer’

On January 5, 2012, in barack obama, Health Care, Uncategorized, by StevenLWhiteheader

**Written by Doug Powers Goodbye “Recovery Summer” — Hello “Work Opportunity Summer.” Alternate headline for partisan pessimists: Obama administration to create 110,000 unpaid volunteer jobs : President Obama on Thursday will unveil a summer-jobs initiative that the White House says is already on track to create 180,000 “work opportunities” in the private sector in 2012. That is the number of opportunities, which includes mentoring and unpaid internships, that companies have told the administration they are willing to create. Some 70,000 jobs are paid, the White House says. The initiative was hatched after Congress failed to approve a $1.5 billion summer-jobs fund that President Obama had been seeking as part of the American Jobs Act. “Today’s announcement is the latest in a series of executive actions the Obama administration is taking to strengthen the economy and move the country forward because we can’t wait for Congress to act,” a White House statement reads. On the executive actions menu, the size of this one might be classified as “medium.” Sure, many of these “work opportunities” may be unpaid, but there’s a positive lesson to be had: While many of these jobs will be unpaid training opportunities, the president says it’s important for teens to learn new skills and develop a work ethic. This administration, not to mention countless congressional Dems, spend their days implying that there should be such a thing as a free lunch when it comes to health care, higher education and well, lunch. Additionally, they’re making it increasingly easy to obtain public assistance (and rewarding those who promote it), pushing very long term unemployment compensation while saying it’s good for the economy , and repeating class warfare rhetoric that suggests the effort to succeed is futile because greedy rich people will only confiscate the fruits of our labor — and now we’re supposed to believe those same people care about setting examples that will allow kids to develop a work ethic? **Written by Doug Powers Twitter @ThePowersThatBe

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Coming Soon: ‘Work Opportunity Summer’

**Written by Doug Powers In June of last year, when “Recovery Summer” was just kicking off , construction began on an Orlando parkway to be named after President Obama and, fittingly enough, paid for with stimulus funds. The first section of road has been completed : Orlando Mayor Buddy Dyer attended a ribbon-cutting ceremony that showcased President Barack Obama Parkway, near the Mall at Millenia. Phase I connects President Barack Obama Parkway north of Conroy Road to Metrowest Boulevard, a mile-and-a-half stretch that includes lighting, sidewalks and on-street bike lanes. Shingle Creek Trail, used by pedestrians and bicyclists, was also extended. Dyer said 150 jobs were created in Phase I of construction, which cost $10.5 million. The city will hire 150 more workers when Phase II begins, he said. If you’re looking for it, the Pres. Barack Obama Parkway is just a mile east of the intersection of “Pass This” and “Jobs Bill” (formerly “Hope” and “Change”). It’s a shame the President couldn’t have been the first to drive down his road — he was just in Orlando for two fundraisers and a beer yesterday. Click the pic to roll tape: **Written by Doug Powers Twitter @ThePowersThatBe

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‘Pres. Barack Obama Parkway’ Opens in Orlando

Now that the debt ceiling debate has been pushed under the rug for a few months, the White House is pledging to “pivot” once again and focus on job creation. It’s about time , GOP Rep. Kevin McCarthy suggests in a new video ad out today. The House Majority Whip challenges Obama’s failed economic policies and asks, “Mr. President: Where are the jobs?” There have been a lot of nice speeches about jobs. Now it’s time for speeches to stop and actions to begin. The President said it would be the “Recovery Summer” last year, but when you look at entrepreneurship over the last twelve months it’s been the lowest in a decade. It’s time to read the data, stop the speeches, and take action that creates jobs, empowers entrepreneurs and gets this country working again. Now is a time for action, not political posturing.

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GOP Rep: Where are the jobs, Mr. President?

Obama Plans Midwest Bus Tour

On August 3, 2011, in barack obama, Uncategorized, by Barry Munz

**Written by Doug Powers Taking a page from Sarah Palin’s rolling menace , President Obama will this month go on a bus tour of the midwest, which is expected to immediately “save or create” one temporary bus driving job : President Obama is planning a bus tour through the Midwest this summer in a trip intended to shore up political support in battleground states. The president will embark on the bus tour, a rare mode of travel for a sitting president, later this month, a White House official said Wednesday. The tour will be run by the White House, not Obama’s reelection campaign. The trip is being cast as an opportunity for Obama to shift back to the issue of jobs and the economy, according to The New York Times, which first reported on it. Should we plant the idea in the media that this is only happening because Tea Party hostage takers swindled posession of Air Force One as part of the budget deal? It’s been just over a year since Sheriff Joe went on his “Recovery Summer” tour, jetting in style from location to location promoting what great things the stimulus had in store for America. That the president is doing a follow-up tour in a bus is either accidentally symbolic or his way of sharing some of the sacrifice with the rest of America. No specific stops have been scheduled, but Ross’ Restaurant in Bettendorf, Iowa might want to stock up on Magic Mountain ingredients just in case. Update: There’s a reason the White House will organize this campaigning bus tour instead of Obama’s campaign organization — because it’s going to be charged to taxpayers instead of Obama’s campaign donors. A presidential motorcade just from an airport to a venue a few miles away is quite an expensive undertaking, but how much does one that gallivants around an entire section of the country cost? **Written by Doug Powers Twitter @ThePowersThatBe

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Obama Plans Midwest Bus Tour

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The Wall Street Journal updates us on “Recovery Summer, Part Two”: Companies are laying off employees at a level not seen in nearly a year, hobbling the job market and intensifying fears about the pace of the economic recovery. Cisco Systems Inc., Lockheed Martin Corp. and troubled bookstore chain Borders Group Inc. are among those that have recently announced hefty cuts, while recent government numbers underscore how companies have shifted toward cutting jobs. The increase in layoffs is a key reason why the U.S. recorded an average of only 21,500 new jobs over the past two months, far below the level needed to bring down unemployment, which now stands at 9.2%. Keep reading this post . . .

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When Do the Bumps Stop and When Does the Road Resume?

Hey, cheer up, Americans! I’m sure we’re headed into another Recovery Summer! Americans are down in the dumps about their personal finances, but still think the American dream is alive and kicking. Only 32% of Americans consider their own personal finances excellent or good, a nine point decline from last year and 23 points lower than 2007, before the economy tanked, according to a new poll from the Pew Charitable Trusts. At the same time, 68% of respondents feel they have achieved or will achieve the American dream. But when asked if their kids will have a higher standard of living than they currently enjoy, only 47% said yes. That’s down from 62% in 2009. This Pew poll also found 83 percent of Americans support a government role in promoting upward economic mobility. At first glance, that might be seen as a call for government intervention in the economy, but it’s worth noting that conservatives believe government can and should promote upward mobility — by securing the border and reducing the number of illegal immigrants who bring down wages, by promoting free trade and helping U.S. companies export goods, by reducing the tax burden and removing unnecessary and arduous regulations and red tape, etc. Oh, and this finding should unnerve the Obama administration: Americans don’t think the government is doing a particularly good job of it. Eighty percent say the government is ineffective at helping the poor and middle class . . . Thirty-seven percent say the government is pursuing the wrong polices, while 43% say the government is inefficiently performing the correct policies.

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Americans Rate Personal Financial Situation Even Worse Than Last Year

Jonah addresses the conventional wisdom that Obama is likely to win reelection in 2012. I’m manic-depressive about the GOP’s chances in 2012. One day I can come up with some really strong arguments for why Obama looks more like toast than Elvis Patterson; the next day it feels like the wind is at his back and he just has to avoid disasters. Since much of my audience yearns for optimism, and shudders when they hear it from conservative commentators, some quick reasons to bet against Obama again: The Economy: Often you’ll see people point to the unemployment rate. Barring some sudden, steep drop in the unemployment rate, the Republican nominee will be able to say that the unemployment rate for every month of the Obama presidency has been higher than every month of George W. Bush’s presidency, every month of Bill Clinton’s presidency, and every month of George H.W. Bush’s presidency. What’s more, the current slow slide in the unemployment rate is driven heavily by Americans leaving the workforce, which is not the way we traditionally like to see people leaving unemployment. We want to see them getting jobs. Throw in other not-terribly encouraging economic indicators like anemic wage growth and high gas prices, and many Americans will be receptive to the argument that Obama’s presidency has been a four-year recession. To quote the wise philosopher Dee Snider, “if that’s your best, your best won’t do.” The World: By 2008, many Americans were exhausted with Iraq and tired of large military actions overseas to improve the lives of far-off Muslims who often reacted to our efforts with contempt. By 2012, it doesn’t seem likely that Americans will feel terribly different, except that now Obama is the candidate of overseas wars – er, kinetic military actions, like Libya and Afghanistan – and the Republican is likely to tap into a somewhat isolationist vein, arguing that the days of the U.S. taxpayer financing nation-building are though. This isn’t even accounting for the idea of an attack like the attempted Detroit flight bombing or the attempted Times Square bombing working. Obama might enjoy a rally-around-the-flag effect for a while, but his GOP rival is likely to argue Obama’s policies have made us less safe. He’s lost his touch: For an allegedly great communicator, most of Obama’s efforts to move public opinion since taking office have fallen flat. He never moved the numbers on health care. He’s no good as a surrogate for Democrats, as Jon Corzine, Creigh Deeds, Martha Coakley, and scores of Democrats learned in the midterms. He and his team can’t resist overpromising; his team put out a laughable chart about how the stimulus would keep unemployment low, and by September 2010, “Recovery Summer” was a punchline. Jimmy Fallon had one of the first jokes that really hit Obama, just before Christmas 2009: “Michelle Obama’s not that excited about Christmas this year. It seems every year the president makes her this great big promise about how great a present he’ll get her, and then he never delivers.” The joke killed. People began to draw a conclusion about Obama: He always promises the moon and gives you much, much less.

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Be Cheerful; 2012 Will Not Be a Rerun of 2008.

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Ben Smith is a good reporter, but it's rather astounding that he can write an entire article headlined , “W.H. dilemma: When to declare recovery” and the words ” Recovery Summer ” don't appear in it. The White House is caught between wanting to tout the administration’s economic accomplishments – and possibly helping to shape the nation’s fiscal mood – and the fear of offending voters by hailing a recovery that many of them have yet to experience. Er… they already have. They spent most of 2010 doing this. Jim Geraghty

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Obama Contemplating Next ‘Recovery Season’ Drumbeat

After two years of mostly bad ideas on how to handle the recession, which turned into the worst economic downturn since the Great Depression, which happened while Democrats were in control of the federal government, Obama is looking to reboot! Which should lead to more great failed sloganeering, like “Recovery Summer”. Thankfully, Obama won’t have

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Snap! Obama Plans To Reboot On Economic Advice