"You are familiar with jobs being shipped overseas because you invested in companies that were shipping jobs overseas," President Barack Obama zinged at Mitt Romney during Monday night’s foreign policy debate.
The president’s line of attack has been found to be misleading and inaccurate. Furthermore, Obama’s policies have helped created jobs overseas by sending U.S. taxpayer dollars to foreign companies.
Obama’s "clean energy initiatives," as highlighted in the ad, include three taxpayer-guaranteed loans to Spanish clean energy conglomerate Abengoa worth $2.78 billion to create 195 permanent jobs (a rate of more than $14 million per job), as well as a $529 million loan guarantee to Fisker Automotive, a fledgling electric car company that manufactures its products in Finland and recently announced another round of layoffs in the hope of securing more taxpayer funding.
The Department of Energy has awarded nearly $6 billion in taxpayer-guaranteed loans to the Ford Motor Company, which has been rapidly expanding its operations, just not in the United States.
North Carolina-based LED maker Cree Inc. received more than $39 Million in stimulus funding, and later opened a plant in China, where more than half of the company’s employees are now located.