Investing in a handful of tomorrow’s jobs with a hatful of tomorrow’s borrowed money

President Obama is doubling down with our money, betting big on solar energy, handing out nearly $2 billion to projects in Arizona, Indiana and Colorado.

In his radio address Saturday, reported in the A section of the Fourth of July Review-Journal, Obama said, "We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America."

The targeted-for-largess companies are Abengoa Solar and Abound Solar Manufacturing. Abengoa’s construction will create 1,600 jobs. Its operation will employ 85. Abound will create more than 2,000 construction jobs and 1,500 permanent jobs.

That’s a half a million dollars per construction job or $1.2 million per permanent job. With investments like that we’ll sure knock a hole in that 9.5 percent jobless rate, if we don’t run out of Chinese money.