Skip to comments.American Businesses Should Spend Some of Their Cash Reserves to Create ‘Green’ Jobs...
Posted on 02/09/2011 10:14:20 AM PST by jazusamo
(CNSNews.com) - Environmental Protection Agency Administrator Lisa Jackson suggested on Tuesday that American businesses with a record amount of cash holdings, estimated at $1.93 trillion, could invest some of those holdings to create jobs that advance pollution control.
Jackson, speaking at the BlueGreen Alliance national conference in Washington, D.C., cited a Dec. 10 Wall Street Journal article about a U.S. Treasury report, which estimated that there is $1.93 trillion in cash and other liquid assets of non-financial U.S. companies sitting dormant, not being invested.
VIDEO 1:12 minutes
Even a portion of the $1.93 trillion invested in developing and installing new pollution control technology would result in good jobs right here for American workers, Jackson said to the gathering of labor unions and environmental activists.
Jackson said that standards and regulations set by the Environmental Protection Agency (EPA) are good for job creation and the economy.
The fact is that updating environmental standards, which we do to protect American families from things like mercury and acid gases and other toxic pollutants that cause asthma and lung disease, especially in children, create a good economic climate for investment and good jobs for American workers, Jackson said.
The Wall Street Journal article also stated the reasons for businesses sitting on large cash holdings and that those holdings are not beneficial to businesses.
The cash buildup shows the deep caution many companies feel about investing in expansion while the economic recovery remains painfully slow and high unemployment and battered household finances continue to limit consumers' ability to spend, the article states.
The buildup has a big downside for companies, which get little return on their money because interest rates are low, but it reflects the relatively few opportunities they see to deploy their cash more creatively.
In a commentary on Jan. 12 on RealClearPolitics, Tom Donohue, president and CEO of the U.S. Chamber of Commerce, said that uncertainty is the enemy of investment and hiring.
The degree of change and uncertainty is unprecedented -- is it any wonder that many companies and other employers are sitting on their hands waiting to see how things work out? To know what their tax and regulatory obligations will be? To understand how new policies will impact their operations? Donohue said.
Uncertainty is the enemy of investment and hiring, he said. Through smart, commonsense policies, lawmakers can help increase certainty, especially when it comes to health care, tax, and climate change policies.
Jackson said that despite polarized debates about the effects EPA regulations and standards have on business and the U.S. economy environmental protection and economic growth can and do go hand in hand.
She said the EPAs fundamental responsibility is protecting the health of the American people, and warned against special interests that dont understand the importance of that mission.
It is important, as special interests try to gut our safeguards like the Clean Air Act that EPA has worked for and under for decades, Jackson said. And while special interests try to find loopholes so big polluters can skirt other common sense health protections.
It is important to recognize these possibilities at a time when American companies have a record amount of cash holdings and liquid assets, Jackson said.
According to The Wall Street Journal, among those companies with the top cash and liquid assets are Microsoft Corp., with $43.25 billion in cash and short-term investments; Cisco Systems Inc. with $38.9 billion; and Google Inc. with $33.4 billion.
Lisa Jackson speaks like a true socialist in parroting her boss in support of unions.
lisa jackson can spend as much of her own money as she wants on green jobs.
Why would business want to pour money down a green Rathole ?
Lisa Jackson: a socialist wh*re waging von Clausewitz style Total War on American Free Enterprise.
These people are absolutely clueless when it comes to business. I challenge each and every one of them to go out and personally hire someone themselves. I would love to hear their responses. Just think how many people Obama could hire from the millions of dollars he has. So what’s stopping him?
Once we get rid of the usurper in our White House, the economy will recover naturally as we invest in real jobs and in production that has value.
obama and his minions act like teenagers with holes in their pocket. They suggest that corporate assets should be looted because the socialists can’t access the 1.93 Trillion (yet.)
What is she talking about?
My former employer has gone through his life savings
just keeping the doors open.
Socialists, like the modern DemocRAT party, are so eager to waste other people’s money. Business leaders need to tell this b*tch and her Kenyan boss to go pound sand.
Are these people so clueless that they fail to realize businesses do not go into business to create jobs? People form businesses to make (GASP) a profit! If hiring more people helps the business owner and/or investors to make more profits then that is what will happen. Otherwise, businesses simply do not create jobs just because some greenie wannabe thinks they should.......
Is not much of that cash owned by multinational corporations and sitting offshore for tax reasons?? If so, much of it can’t really be used for green jobs because it will be skimmed the moment it is transferred into the US to begin with.
The only proper response to the EPA is for the new majority in congress to stop funding the EPA completely. I know that sounds radical but it’s the only way to fix this problem. Newt Gingrich is the only person of influence that has suggested this very solution.
My business has cut deeply into my savings... after 36 years of success.
Well said. He and most Dems don’t spend their money, they spend tax dollars.
I would venture to say your employer is not alone.
These idiots always mention billion dollar companies, not small to medium size companies.
Translation: I see a pot of money that I want to take for me and my friends and it really doesn’t matter that someone else earned it and paid tax on it. I’ll bully them into spending it my way even if it means they don’t have reserves to survive through the Depression my boss created.
Does anybody really believe this crap outside of the media and unions?
Why the heck do jobs have to be “GREEN”? With what is going on in the country, shouldn’t they be promoting any JOB?
Oh wait, they are too wrapped up in their fake morality to be honestly concerned about people.
Actually Lisa Jackson just let the cat about of the bag, this isn’t about global warming, it’s about pollution. This is why the countries with the highest rates of pollution are exempt fro kyoto.
Carbon credits and the green way of life is the globalist agenda for destroying America and it’s freedoms. Because if the left called it pollution, we would be up in arms about why the countries with the highest rates of pollution get a pass.
Think about it. Exxon in the US gets screwed but saudi Arabia oil fields get a pass.
How do they find such idiot a*holes?
That’s exactly what they’re doing. China was the number one polluter in the world a couple years ago and probably still is but we don’t hear much of anything about it now.
It will be amazing if there is one large business or corporation left in the U. S. by the time these clowns are done.
You are not going to see any job creation until he is gone and out of office. It is not going to happen.
The idiots who watch OBama TV help enable and empower him so they are just as bad. And no Fox is not our friend. TV is NOT our friend.
Lisa Jackson is an old Marxist hag who needs to be tossed in jail for sedition.
Note to the new GOP House members. DEFUND the EPA to an anual budget of $0.00
This is the largest example of how gov workers think differently from those in the private sector. A gov worker spends all they can because if they don’t spend it this year, they loose it next year. In the private sector, the motivation is to do it cheaper and save it for the future.
No their are like facists and nazis who are pure evil.
I learned my lesson when a friend and I went to the
SBA to see about a loan of 25,000 to start a business
they told us to come back when we needed a million.
I have thought this for a long time. I believe this is what happens when an agency actually achieves its goals; but, is still funded and has to look for things to regulate. There are no "green" jobs. The only "green" jobs that exist, exist because of government subsidies. Take away the money, and these "green" companies and jobs disappear. It is not a green, but a black hole which sucks up our tax dollars and gives nothing back in return.
Now where did I put that "/sarcasm" tag? It's around here some where.
The Soviet Union showed what happens to such a command economy. The CHICOMs ditched that 30 years ago.
I AGREE 100%.
Fire illegals and hire Americans to do the Landscaping!
Lisa, take a good look at Spain and their experience with ‘green’ energy. Their socialist government dumped untold billions into subsidizing solar and wind and ‘green jobs’ and guess what? They ended up cutting off the money because it wasn’t working and was driving them even faster toward default. Meanwhile, hundreds of years worth of coal and oil sit untapped in the US, all because of the stupid EPA.
Exactly. And now some companies that are more than willing to take millions in subsidies to develop green energy are having a hard time with enviro nazis because whether it be ocean, mountains or deserts the fields are a detriment of some kind. The enviros want green energy but then oppose it because of their bent ideas. sheesh
Someone should inform this uncivil bitch that you can’t create a market where one doesn’t exist.
Sorry, regular formatting doesn’t seem to be working for me.
I love the strange idea they seem to have that corporations are putting all their money in cash under their mattresses. Whether it’s in a bank or whatever it’s already being invested, just maybe not directly by the company. No rational businessman just lets money sit.
Taking their cues from Obama’s C of C speech, I think I have seen at least two prominent Democrats per day in the news pointing out that business has $2 bil. in reserves that they are not using to create jobs.
I think the template for the Obama 2012 campaign is set. “I tried. I asked them to be Patriots. I asked them to create jobs. But they refused. Guess now we’ll just have to take their money and create Green Jobs for them”.
I can turn her words around to make them palatable.
“There are great new technologies out there that can make business a fortune, with lower costs and better efficiency. More for everyone. Find those new technologies, develop and market them, and instead of capital just sitting there, it will produce handsome yields.”
Perhaps Ms Jackson could invest some of her own damned money “to create jobs that advance pollution control”.
You are right about that. The only economic growth you will see over the next two years is in ventures that require no employees. This Administration has created a business environment where having employees becomes a huge liability.
So the big question is: Are they doing it out of ignorance? Or are they doing it with the willfull intent of destroying the American economy.
"Taxing at that level would force businesses, most of them the DIRTIEST polluters in the nation, to actually use that money to open new, GREEN plants, creating new GREEN jobs, instead of collecting unearned income from it," Administration officials said in a private Oval Office meeting.
"We know how to put it to better use, than those greedy B*****ds who are sitting on it, trying to hatch it like a rotten egg!"
Alternatively, the leftist clods in washingtong should be rounded up and carted off after a generous application of tar and feathers