As of today, October 22, 2011, the cost per job created (or saved) from the Department of Energy’s Federal Loan Guarantee Program is $554,217.61 (i.e., $35.9B in federal loan guarantees divided by 64,776 jobs). The most famous of these loan guarantees was the half-a-billion-dollar one for Solyndra, which ended with the loss of 1,100 jobs. Interestingly, that particular investment is no longer listed on the DOE’s website.
The Wall Street Journal has recently reported that a household making more than $506,000 of income per year is in the top “one-percent” of income in the United States. In essence, the average sum the government spent to create each green job exceeded the amount of money that would put an American household in the top 1% of income earners.
The only difference here is that the government actually did take this money from the American people, which is all the more reason Occupy Wall Street protestors should be occupying Washington and not Wall Street.