Obama Signs Semiconductor Industry Bailout

February 20, 2009, WASHINGTON, D.C.— Racing to reverse the country’s economic spiral and decline in technology leadership, President Barack Obama signed the $5 billion semiconductor industry support plan. The plan would provide semiconductor manufacturers tax and other incentives for locating and expanding chip fabs in the US.

So what’s the most surprising aspect to this faked news? The idea that Congress has the semiconductor industry on their radar or that they could understand and agree upon a plan that would stem the tide of technology outsourcing?

A number like $5 billion (Intel will spend a total of $7 billion on capital expenses in the US this year) could have enormous impact. Even though the recent stimulus bill had $30 billion for a smart power grid and energy efficiency measures, $20 billion in tax incentives for renewable energy, $19 billion to accelerate digitizing health records, and even $7 billion to provide broadband to underserved communities, it still seems shocking that Congress would give $5 billion to semiconductor manufacturing.

Internet access, digital TV, Green, roads and sewers, state government all get a piece.

Semiconductors…zilch, nada, zed.