He didn't have to spend half a trillion dollars, but if he did we'd probably be selling technology to the rest of the world while we try to figure out what to do with the petroleum and coal we have.
We hear how grave the warming issue is, yet we spent many times more on bailing out GM. TARP money? You know how much that was. AIG?
I can go down the list of things Obama and Congress pushed for, yet when something with far more serious potential comes along we haven't nearly the commitment.
Even if warming is bogus, being independent of countries which whip teen girls for using cell phones seems a good thing.
If funding is a measure of how serious politicians are about a particular issue, I'd have to say that the current administration and Congress aren't convinced by their own reports either.
Meh, it's a glib way to argue the point. It begs the question, first of all, of whether we really did or did not need to pour money into TARP or the stimulus (part of which went to energy BTW) to keep our economy from totally collapsing. If the answer is yes, obviously the money had to be massive to have any effect. And with a collapsed economy, there is no tax revenue to increase energy funding or anything else. Comparing money that you pump into the economy in the short run to solve an economic crisis to money for energy and measuring it as priorities based on dollars spent is a bit apples to oranges, since the economy is the base from which we are able to fund anything at all. You can't even compare two ordinary spending items in that way, since different problems/issues/sectors demand differing amounts of money. It's like saying if the federal government spent $600 billion last year on defense and $20 billion on education, Obama must value defense 30x more than he values education.
The other major point is, how much money will he be allowed to pump into energy? He isn't the King of the United States, right?
In the campaign, Obama said his priorities were first, fixing the economy, second, energy, third, healthcare. He reversed priorities 2 and 3, because the conventional wisdom was that healthcare was the tougher issue and since his political capital would dwindle while the economy lagged, he should do HC first. In hindsight it turned out to be a HUGE miscalulation. We ended up with no real HC reform, and now we'll probably get a weaker energy bill than we would have if he had done that first. Thems the breaks.
- wolf