Freedom Line Blog

In the Obama era, the news on any given day seems seems like a real-time seminar on the disutility of Keynesian economics and “green energy” faddishness. The latest such entry comes from KOMO-TV news in Seattle, which reports the following:

Last year, Seattle Mayor Mike McGinn announced the city had won a coveted $20 million federal grant to invest in weatherization. The unglamorous work of insulating crawl spaces and attics had emerged as a silver bullet in a bleak economy – able to create jobs and shrink carbon footprint – and the announcement came with great fanfare.

McGinn had joined Vice President Joe Biden in the White House to make it. It came on the eve of Earth Day. It had heady goals: creating 2,000 living-wage jobs in Seattle and retrofitting 2,000 homes in poorer neighborhoods.

But more than a year later, Seattle’s numbers are lackluster. As of last week, only three homes had been retrofitted and just 14 new jobs have emerged from the program.

Fourteen jobs instead of 2,000. That means the Administration’s estimates were off by 99.3%. Since this president is so fond of telling us how much he respects the private sector, how about a few analogies from the real world?

— A baseball player with this level of accuracy would be hitting .007

— A financial adviser with this level of accuracy would have invested $250,000 and ended up with $1,750.

— A doctor with this level of accuracy who saw 850 patients a year would misdiagnose 844 of them.

If you had that baseball player, you’d cut him. If you had that financial adviser, you’d fire him. And if you had that doctor, you’d find a new physician and probably report the old one for malpractice. If you had this president …