In a speech given during a visit to a Menomonee Falls, Wisconsin battery plant on Monday, President Barack Obama predicted that the nation’s manufacturing and industry would be a primary source of economic growth and that the policies his administration is putting in place would create 800,000 jobs in the next two years.
“Our commitment to clean energy … [is] going to help lay the foundation for lasting economic growth,” Obama proclaimed at Wisconsin-based ZBB Energy’s main facility [AMEX: ZBB]. The Company designs, develops, manufactures and distributes energy storage systems and solutions based on their zinc-bromine rechargeable electrical energy storage and power management technologies.
The president also targeted Republicans for stymieing the Democrats’ policies in Congress. Attempting to pin the tail of economic woe on the GOP, he claimed that the party has “made the political calculation that it’s better to stand on the sidelines than work as a team to help American businesses and American workers.”
The President didn’t go into detail about what sort of policy changes might result in such massive growth, but the administration’s strong continuing interest in green jobs and the renewable energy sector may offer some clues as to what direction he might be heading. The massive American Recovery and Reinvestment Act earmarked billions of dollars for these industries in the form of tax credits grants and loans, something the previous administration declined to support as readily.
As we near the midterm elections the White House’s will undoubtedly point toward growth in these sectors as signs of recovery in an economy that has been plagued by a weak pulse since the current recession began 2 years ago. True to this line of thinking, the president proudly noted in his Wisconsin speech “we’ve now added private-sector jobs for seven months in a row.” Hopefully, his current commitment to producing green collar and renewable energy jobs will begin to pay off for American workers struggling with high unemployment in other industries.
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