White House staffers held a teleconference with reporters today to preview what President Barack Obama will say about jobs and the economy at a Fremont solar-panel manufacturing company tomorrow.
Air Force One is due to touch down at San Francisco International Airport in a few hours, and the President will be headed into San Francisco for a pair of pricey fundraisers to benefit the re-election campaign of U.S. Sen. Barbara Boxer and the Democratic Senatorial Campaign Committee.
Tomorrow morning he’ll be at Solyndra Inc., which received a $535 million loan guarantee from the Department of Energy – funded by the American Recovery and Reinvestment Act, the Obama Administration’s economic stimulus package – to build a big new manufacturing plant just up the road from its existing facility.
Jared Bernstein, chief economist to Vice President Joe Biden, told reporters today “we’re excited about what Solyndra is doing and about the president’s trip” as a chance to “get out of the beltway bubble” and see, hear and feel what’s going on in the economy, good and bad.
The Recovery Act has created or saved 2.5 million jobs, Bernstein said, but that’s not enough – the nation needs far more robust job growth. He cited the President’s recent comment that “the only economic news most people want to hear is ‘You’re hired.’ ”
Solyndra is not only about new jobs today, but also “about new industries tomorrow,” Bernstein said – a clean-energy industry that will protect the environment while reducing dependency on foreign oil. With the economy still shaky, unemployment still to high and credit still hard to get, government must continue to provide incentives for such progress, he said.
Solyndra is expected to produce 230 megawatts worth of solar panels per year, with the first product rolling off its new assembly line sometime this fall, Rogers said. This is an example of the United States re-establishing its leadership in clean energy high-tech manufacturing, an underpinning of the economy just as important as the innovation that makes it possible.
And “the good news will be compounded if you look just down the street from Solyndra,” he added, where Tesla and Toyota are partnering to produce electric vehicles at the recently-closed New United Motor Manufacturing Inc. (NUMMI) plant. A staffer on today’s call couldn’t immediately say whether Obama will meet tomorrow with any Tesla or NUMMI-related officials.
Meanwhile, Republicans decried the President’s arrival for the San Francisco fundraisers. Read it, after the jump…