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Biden Champions Recovery Act Investments in Clean Energy, Science

1 year ago
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Insisting that the stimulus plan is indeed working, Vice President Biden Tuesday unveiled a White House report showing that the recovery act's $100 billion investment in innovative industries such as solar energy, electric cars and scientific research is transforming the economy, creating jobs and cutting costs for consumers.
Standing alongside Secretary of Energy Steven Chu, the vice president delivered his remarks to a White House audience of recovery act recipients, including representatives from clean technology companies and scientific research institutions. Biden was enthused as he cited the benefits of the government's investment: "Folks," he said, "this is groundbreaking!" He then outlined four major federal goals:

-- Cutting the cost of solar power in half by 2015 in an effort to make it cost-competitive with retail electricity from the grid;
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--. Cutting the cost of batteries for electric vehicles by 70 percent between 2009 and 2015, making the lifetime cost of an electric vehicle on par with that of a non-electric automobile;

-- Doubling U.S. renewable energy generation capacity and U.S. renewable manufacturing capacity by 2012;

-- Bringing the cost of a personal human genome map to under $1,000 in five years.

Biden touted each objective, highlighting the "good, American jobs" that would be created in the clean energy manufacturing sector, and citing the 16.7 billion homes that could be powered by renewable energy by 2012. "That covers a lot of states!" he proclaimed.

To detractors who have objected to increased funding for scientific projects, Biden credited genome research as part of a larger effort to "win the war on cancer," insisting these are "the things that matter to American people's lives." He added, "I love how our opponents have nitpicked some of the research money we've given to the [National Institutes of Health]. [It reflects the fact that] they know nothing about science."

Highlighting the role that renewable energy might play in boosting the weak U.S. economy, the vice president saved some choice -- and classically Biden -- words for the Bush administration. "The last president -- as my mother would say, God love him -- saw the future in the financial industry. Credit default swaps were not what I call a vision."

It wasn't the first time -- nor will it be the last – that Biden has been cast in the role of White House economic cheerleader. He's spent much of this season on the road as part of an effort the White House has dubbed "Recovery Summer," talking up stimulus program investments across the country and meeting with local officials. Still, the economic news has remained gloomy for much of the summer.

While the vice president delivered his speech, the National Association of Realtors reported a sharp plunge in the sale of existing home sales in July -- down to their lowest levels since 1995 and off 27.2 percent from the previous month. The figures evidenced increasing concerns about the economy and jobs, despite favorable housing market conditions.

Biden, for his part, preferred to focus on the future -- and the possibilities that scientific innovation might offer: "If we are as innovative as we have been in the past, we launch entire new industries...and in the process we spark new forms of commerce that were unimaginable before we started."

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ettu

Biden talking about people knowing nothing is a fine example of the pot calling the kettle black.

August 26 2010 at 3:31 PM Report abuse rate up rate down Reply
consurvative

johnblack ,the new LG plant in Holland , Michigan was part of the so called green jobs effort by this administration and brought on by stimulous funds...ie our tax dollars. Indeed the cost for each of the 300 jobs if diveded by stimulous funds given to LG is around 500k per job. Most stimulous created jobs cost around 150k per job. The point is that free market jobs cost tax payers nothing , and actually create more tax dollars instead of taking tax dollars unlike Government created jobs. You really should do some research on all of this.

August 24 2010 at 10:02 PM Report abuse +5 rate up rate down Reply
sysaphus71

Joe,god love him,your on the wrong team....You're a good guy but they got you doing yeoman's work. Now they want us to believe jobs started ,saved and people effected by the jobs program. Joe ,what is that?...exactly?

August 24 2010 at 9:32 PM Report abuse +4 rate up rate down Reply
notoobamaagenda

Obama will bring illegals in through the back door and to hell with the US citizens.

August 24 2010 at 9:23 PM Report abuse +6 rate up rate down Reply
Ali Grimes

What about housing, VP Biden?????

August 24 2010 at 8:54 PM Report abuse +9 rate up rate down Reply
kt3059

exitar01...I would encourage you to research what GM has actually paid back and look into the fact that most of what they have paid back was with additional bailout money. They are still not profitable.

August 24 2010 at 8:39 PM Report abuse +12 rate up rate down Reply
kt3059

wolfsonnydiane....in regards to your post what have the republicans done to help unemployment. The republicans don't have control and aren't the ones stating how great the recovery is.

August 24 2010 at 8:36 PM Report abuse +10 rate up rate down Reply
consurvative

johnblack , Several economic experts said the true unemployment rate was 17.7% a couple months back, and they were not including all of the self employed who are out of work and off the unemployment radar. These self employed were all working before the Democrats took over both houses in 2006. And like him or not , the fact is that Bush with a Republican majority in both Houses , had us at 4.2% unemployment with small businesses thriving , and self employed working from coast to coast , much like the Republican majority that took over inder Clinton turned that economy around , we once again hope they can do it under Oboma after the mid terms.

August 24 2010 at 8:08 PM Report abuse +12 rate up rate down Reply
gtheel

The new battery plant here in Michigan cost tax payers 500,000 for everyone of the 300 jobs created with none of the employess getting paid enough to buy the hybrid the batterys will go in. All of that stimulous to create these jobs went to LG , a South Korean foreign company. Then we have GM spending 500.000.000 on a new plant in Mexico with the unpaid bail out money. How many jobs have actually been created....and at what cost?

August 24 2010 at 7:56 PM Report abuse +11 rate up rate down Reply
exitar01

Fishcove3 - First the unemployment rate is 9% not 17%. Millions of Americans lost their jobs and are worried about finding work but thier not worried about their homes credit card and mortgage payments thier worried about vacations? Too many reports tell me (a financial exec.) that the stimulus is working and should have been much larger. As far as truth telling - you way too many inconsistecies in your statement to worry about who is telling the truth or

August 24 2010 at 4:45 PM Report abuse -16 rate up rate down Reply
3 replies to exitar01's comment

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