The Department of Energy’s Loan Program Office website claims that a $400 million loan guarantee recipient has created 1,200 permanent jobs. But a company Chief Financial Officer confirmed that the company actually employs just 125.
Earlier today on MSNBC, President Obama spokeswoman Stephanie Cutter claimed that Obama’s “strategic investments” in companies like the now-bankrupt Solyndra solar panel manufacturer had created “almost a quarter of a million jobs.” “There are plenty of other examples that were successful,” Cutter said.
But the DOE website that tracks loan guarantees only identifies 60,000 jobs created. And even that number is highly suspect.
Take the 1,200 permanent jobs that Obama claims were created by his $400 million loan to Abound Solar. Contacted by phone today, Abound Solar’s CFO said the company currently only employs 125 people total. They did employ as many as 400 people at the beginning of the year, but they were forced to fire 280 of them in late February. A new factory in Indiana was also delayed.
That is not even the biggest discrepancy on the DOE site. The Ford Motor Company currently employs around 60,000 employees in the United States, but the DOE claims their one $5.9 billion loan saved 33,000 of them. Obama’s DOE also claims 2,000 jobs were created by a $529 million loan to Fisker automotive. But as of April 18th, Fisker’s only U.S. factory was completely empty.
When asked if he regretted his “investment” in Solyndra in October, Obama said, “No, I don’t, because if you look at the overall portfolio of loan guarantees that have been provided– overall, it’s doing well.”
It is unclear whether Obama’s beliefs about the “success” of his energy porfolio is based on what his DOE website says, or reality.
