Green jobs to save the American economy? If you have listened to the various politicos on the left end of the spectrum, especially before and after the passage of the $787-billion stimulus package earlier, you would think that is the cure-all.
But so far it isn't working and there are other fundamental problems that lie ahead according to some energy market analysts, like much higher oil prices - despite the pledge by President Barack Obama to open up 160 million acres for future oil exploration and drilling. To avoid the price of $100-plus oil, CNBC's CME Group floor reporter suggested expediting the process, as was the case with ObamaCare and TARP.
"I think what you're hitting on is so important because the President of course talking about some of these jobs, but also talking about drilling," Santelli said on CNBC's April 1 broadcast of "Closing Bell." "You know, if the government was able to put forth health care and the government was able to do bailouts and TARP and stretch the rules, if they wanted to get jobs now and avoid the $100-plus oil you know that's coming they could drill quickly if they wanted to. And this is something that needs to be discussed, don't you think?"
The Obama administration is trying out a second big-government remedy for people facing foreclosure, but NBC's "Today" failed to mention criticism of the initial program or provide any free-market solutions.
The White House has now tapped $14 billion in TARP funds to expand the administration's existing mortgage assistance program.
Matt Lauer introduced the "Today" show March 29 discussion of the program saying: "New help for millions of homeowners who are facing foreclosure. The Obama administration is rolling out new incentives to the federal mortgage relief program - so what's different this time?"
"If you're unemployed, this is going to give you an ability to have your monthly payments lowered for three months, maybe even six months," CNBC's Sharon Epperson told Lauer, before noting the requirements and assistance for those "underwater."