Tuesday, January 31, 2012

Money Well Spent: Revival of the Electric Car

I can name a number of area's where the 'stimulus' money helped the economy for short and long term, saving in the long term money especially in government, like the Veterans Administration, but you can take a look at that and plenty more at Recovery.gov unless you pray at the alter of FOX not news, can't help ya there you're already to far gone as witnessed in speak and replies online.

How the Stimulus Revived the Electric Car
This story was adapted from "Money Well Spent?: The Truth Behind the Trillion-Dollar Stimulus, the Biggest Economic Recovery Plan in History" which will be published Tuesday by PublicAffairs.

Jan. 31, 2012 - A common criticism of President Obama's $800 billion stimulus package has been that it failed to produce anything – that while the New Deal built bridges and dams, all the stimulus did was fill some potholes and create temporary jobs.

Don't tell that to Annette Herrera. She was 50 when the auto supplier she worked for in Westland, Mich., closed its factory and moved the work to Mexico. Then, after being unemployed for 2½ years, she got a job in October 2010 with A123 Systems, which had received $250 million in stimulus money to help open a new lithium-ion battery plant in nearby Romulus, Mich.

"The first thing I did was call my husband and tell him, 'You're never going to guess! I got a job!'" Herrera recalled. "And then it was like celebration time."

One success the Obama administration can duly claim is the rebirth of the electric-car industry in the United States. Automakers have unveiled a number of mass-market electric cars, which have seen small but rising sales. Battery and parts manufacturers are building 30 factories, creating thousands of new jobs. A123 has hired 700 workers at Herrera's plant and a second one in nearby Livonia, and plans to hire a couple thousand more people over the next few years.

If it wasn't for the stimulus, the companies say, they would have built these plants overseas. read more>>>

If the 1% grossly wealthy had been following the con of ronnynomic capitalism, extremely small ‘c’ on that, there wouldn’t have needed be a stimulus let alone in alternatives, which they helped kill along with the special interests some forty years back when we started down that road. I was installing or on jobs where it was then, leaving it till now and the loss of the trades to the China’s of the other world, who once envied what we were building. They now lead and we’re not even racing to catch up thanks to the so called free market mentality of the tepubs and their obstruction after they collapsed what was forecast long back that same economic fallacy of growth for everyone!!

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