Taxpayers giving $4B to green energy projects overseas
New report on stimulus program
- Duration 3:18
- Date Jan 18, 2013
New report on stimulus program
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-- shocking new report out shows -- American taxpayers are forking over four billion dollars.
For green energy product cup projects rather the companies that worked out of Europe.
Matt McCall as president of -- financial group LLC -- good morning to you.
These were European based company's yes or Asian based company is that we're doing work here in the -- right yet clear on that exactly but you find out.
Well until they're -- for -- company put its subsidiaries here United States.
So we had done some research I found one company to take which -- -- pretty interesting called a power energy generation systems.
And they're actually -- it and they acquitted SEC they have an office in San Diego so they went to check that office is actually vacant.
So -- a Chinese based company that has a subsidiary here United States.
So they're doing their part -- big wind farm they're going to be building at Texas.
If this goes through when they actually get the grant -- the government is giving tree 300 jobs -- unites states which is fantastic.
800 jobs in China Nokia so basically our taxpayer money will be supporting this Chinese based company creating 800 jobs in China you wonder what we get out of it I mean what what this shows this came from stimulus money right is that 2009.
And before these green energy companies -- tax credits yes but through the stimulus.
Law that was signed.
They receive money oh yes -- cold cash yes but sex called section 1603 of the American recovery and reinvestment act which was in 2009 as you mentioned.
But sixteen billion dollars have been doled out so far about four billion have gone to these foreign companies basically going back to.
A lot of a Spanish company big guys Spanish renewable energy -- to get one point eight billion dollars from the US taxpayers to do some work -- United States.
But isn't the goal to.
Basically spur growth and American companies create American jobs you're with your honor but that's what we thought it was -- -- We do and what that shows -- that this White House -- dead set.
I'm pursuing a green energy policy.
And they did it through his stimulus that we thought was going for something else and -- -- cost -- I mean basically they're taking our hard earned money.
At a time when we're running what we had that you know how much is truly the dollars were in debt right now.
And you're taking money getting to China a Chinese company China hasn't been enough say the growing at seven point 9% we get really get our economy to -- 2% of right we're getting them on specific critics are saying listen if we boosted.
Electricity output so that was productive for the United States.
But they don't call it outsourcing they call it in sourcing.
You can call that whenever you want bill you call what -- you would like.
But the goal of the stimulus was -- great American jobs which yes I will give them a bit of credit that they will create some American jobs here.
The problem is they're not long term we're not sustainable.
The other issues you're supposed to be pushing entrepreneurship small business here United States.
One of these small business renewable energy can be said we can't compete.
Because when the money's being doled out these big -- come from Europe and Asia and they can jump right away and get the American money.
You wonder how many more stories and how among more companies were getting her breasts.
I'm it has started so lender in four billion dollars is an awful awful.
Flocked to Obama really say six more billion dollars for next year in about general -- I have to thank you -- effective viewers at home the email us -- foxnews.com.
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