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GLENN: We talked yesterday a little bit about his fiscal stimulus package and some of the things that were in it like water slides and fixing up zoos, et cetera, et cetera, but here's one of my favorite. This comes from Alabama, it's a little town called Edwardville. They want $375 million of the stimulus package, $375 million. By the way, Edwardsville, Alabama has a population of 194 people. It is located near the Georgia border, 26 miles from the nearest big city of Anniston, population 24,000 people, and they have 33 proposals. They want $375 million. That's about $2 million per resident in Edwardsville.
Now, Edwardsville is kind of a hard -- it's hard to live there. I mean, there's 194 people that live there and they have the poverty rate of Nepal. The poverty level is at 28.7%. So there's not a lot of rich people that live there, but there are 194 people. So what are they going to do with the $375 million? Well, I mean, you could just give it to each resident and they would all be millionaires and then let them decide how to spend the money. I'm just sayin'. If I had $2 million, if the government was going to give me $2 million and there were only 194 of us, we could all figure out how to fix our town, couldn't we? Or you could let the government do it. And here's what they've decided to do. They are going to replace the street lights in Edwardsville and they are going to replace them with solar powered lights. So that way once they replace the street lights, you don't have to worry about spending the money. I mean, they got a poverty rate. You don't want to have to worry about spending the money to turn on the street lights. These will be solar powered street lights. They are also going to install solar panels on the town hall at $77,000. They are also going to build solar power recharging stations.
Now, Stu, let me ask you this: When you've got a -- when you have a town that has the poverty rate of Nepal, does this sound like an unbelievably fantastic idea or one of those, "Oh, my gosh, that's such a good idea; why didn't I think of it"?
STU: Well, Glenn, you can make fun of it all you want, but the truth is if you don't have solar powered street lights, then you're going to cause a massive global warming crisis.
GLENN: I understand that. I understand that. Listen.
STU: And then icebergs --
GLENN: Listen to me.
STU: -- crashing --
GLENN: Listen to me. We have a poverty rate of 28.7% in this town and what they're going to do is they are also, not only the street lights, not only the solar powered on town hall but they are also going to build solar powered recharging stations for electric golf carts and electric cars.
STU: For the -- they are going to -- the 28.5% poverty rate place is going to --
GLENN: 28.7%.
STU: Oh, 28.7, just in case people have --
GLENN: If they are running with their golf cart, they are running a little late on the links and they say to themselves, jeez, now I'm out of battery juice.
STU: Let me ask you this question: If you have -- sure, 28.5 poverty rate sounds high. Sure, Nepal in the United States sounds bad.
GLENN: Sure.
STU: But what is the poverty rate if Greenland melts and it coats all of this town in 4,000 feet of water? What's the poverty rate then?
GLENN: I don't know.
STU: What's the drowning rate?
GLENN: I don't know.
STU: Yeah, you don't know, do you?
GLENN: I don't know.
STU: Yeah, that's why you don't run Edwards --
GLENN: The mayor says, "Do you know how hard it is to fund some of these projects when your tax base is so low?" The solar powered recharging stations for your golf carts, it's really that hard, really, to fund them when your tax base is low. He said, we just breathed a sigh of relief when we found out about this stimulus package, especially since it has a focus on renewable energy. See what I mean?
STU: I'm sorry. How else are you going to play golf at night? I want to know.
GLENN: I don't know.
STU: You don't know, do you?
GLENN: The outlay of $54.4 million will also go for water pipelines beneath the roads to soak up the sun's rays and transfer the heat. This technology is currently being tried out in the Netherlands, which found that while the cost of installation was double that of normal gas heating, the system half the amount of energy required.
STU: Is it possible that the mayor of this --
GLENN: Hang on. You half the amount of energy required, but you double the cost. I'm sorry. I thought that just didn't make sense.
STU: Is it possible that the mayor has been trying out other things that are legalized in the Netherlands?
GLENN: You mean like prostitutes? Edwardsville's biggest proposed expenditure is for a renewable energy museum. It will be a renewable energy museum and information dissemination center. So if you ever want to go and see a museum, you know, see stuff like on old solar panels, you can drive to Edwardsville, which is just right down the street after a several hour drive to be able to see that.
STU: Well, if you want to see solar panels that are twice as expensive as the normal power that they use, you can just go to the street lamps. But if you want to see the old-timey solar panels that were four times as expensive, you can go to the museum.
GLENN: And if you are driving your golf cart, don't worry, you'll be able to recharge it there. This is insanity! At the same time that Barack Obama says that he is going to cut out the pork spending, you've got to be kidding me. Why -- they don't need pork to put it in congress. It's already in it! Again like we talked about yesterday, the common sense is dead. Like we said yesterday, everybody is saying that we need to spend money to make money. Well, you don't spend money -- when you use that phrase, "We've got to spend money to make money," yes, that's usually actually putting the money into something that will generate money later. We have a better chance of spending money on ink and printing presses. The idea of spending money to make money is not to build a bunch of crappy museums.
Yesterday we told you about the, what was it, the Trenton Port Museum? No, I don't think so. Nobody is going to -- nobody goes to museums! .
You know there's this museum that is exactly like this renewable energy just outside of, what is it, Twin Falls, Idaho. I drive by it all the time. And it's all about the inventor of television. It's the Farnsworth museum. And I'm fascinated by Farnsworth, a boy who was in school when they were talking about how do you put images and send them through the air. And nobody could figure it out, and he was plowing this field and he realized, oh, my gosh, if we just take a picture and break it up in lines, I think we could send something like the field. And he had this great idea, and it became television. Well, I've always wanted to stop by that museum. I don't go! Because nobody has time to do the stupid museum! I mean, how much money did they spend on the Farnsworth museum? I hope that it was all privately funded, but in today's world I doubt it was. Now we're taking all of these, this money for museums. That is not the same as building a dam for hydroelectric power.
Let me ask you this: They are saying that the job numbers is the largest job number loss in 26 years. We now have, today's numbers, now since 1944, right -- or 1945. The last time the country lost this many jobs was 1945. Well, wait a minute. Wasn't that the beginning of the big boom for America? The answer is yes. So why was there such a huge loss in 1945? Because the government shed the jobs. The government didn't employ people anymore. The government didn't -- they weren't making tanks. But Ford was making aircraft engines and they turned that plant, starting in 1945, into their largest car manufacturing plant. People took the technology that was used for the war and used by the government and developed by the government money to be able then turn it into private industry. Private industry? Water slides? Zoos? This is infrastructure? We're talking about repairing bridges now, not inventing nuclear power. We took nuclear power. We funded the Manhattan Project. It totally transformed the world. We took and we developed the jet engine. It totally transformed the world. I'm sorry, but the renewable energy in our street lamps is not going to transform the world. So when the government money stops, what have you built that can now be used as the private sector to create new jobs? You've built nothing. This is not long-term thinking. This is short-term death.