Obama called it his WTF moment. Winning the Future.
Let’s see, you’ve got Trillions of taxpayer dollars. A boat load of academia theorist Czars with no real world experience in their resume’. A belief in a green environment world of Unicorns, and Skittles. What else can you do but squander it on unproven technologies. What’s the definition of obsessive-compulsive disorder?
I wrote about “The Green Promise” that failed due to government interference, high taxes, and the high cost of doing business in a “Green Environment”. Now couple that, and double down, in the Green Casino of risky expensive technologies and you’ve got Solyndra.
You’ve probably never heard of a Solyndra, have you? I can’t even figure out what the name is supposed to mean. But Obama and Joe “BiteMe” Biden know, and they
gave gambled our money away on these people.
SOLYNDRA was the first recipient of a loan guarantee under the dual auspices of the Recovery Act and Title XVII of the Energy Policy Act of 2005. The Department of Energy noted the loan guarantee was the first it had issued since the 1980s. On Sept. 4, 2009, the day of the award, Vice President Joe Biden crowed that it was “part of the unprecedented investment this Administration is making in renewable energy, and exactly what the Recovery Act is all about.” DOE Secretary Steven Chu called it “part of a broad, aggressive effort to spark a new industrial revolution that will put Americans to work, end our dependence on foreign oil and cut carbon pollution.
It failed miserably. Get this; Obama gave these people $535 Million dollars to make solar panels. This California Company was the first recipient of a loan guarantee under the Recovery Act.
If you can stomach 24.09 minutes of your life to watch the lies of this clueless hair-plug VEEP talk about jobs that never existed, were never created, but money that was squandered away, your money.
And Guess What?
Taxpayers are on the hook for $390.5 million—73% of the loans. Some observers questioned the wisdom of the government’s deal from the start, saying the company was an inefficient, high-cost producer.
You have to pay that, not the company. Because, Obama believes it’s not your money. Ironic?
The company is operating under a negative cash flow and huge operating loses. It canceled its Initial Public Offering (IPO) and incurring $175 million in new debt. There should be questions and a investigation into why the government made such a risky gamble. One of the largest investors in Solyndra was also a large campaign contributor to Obama’s election. So you know there was campaign influence there.
But let’s not stop there, let’s give the failing company more taxpayers money.
They now must decide whether Solyndra will get an additional government-guaranteed loan of $469 million to partially fund the second phase of its factory expansion.
Shouldn’t we just cut-and-run? That’s what democrats are good at. What guarantee is there they won’t squander our money away? When you total this up, it’s over a Billion dollars of money squandered away on bad investments in your future.
But it’s hard to rid an obsession. Especially when the money is not yours to spend. Speaking of runaway spending, failed Green technologies, and compulsive disorders; you know that Spain tried and fail at this also, and it led that country to over 20% unemployment. Here’s why.
To make matters worse, we’re going to give more money away to more failed Green Technologies.
Abengoa Solar got $1.45 billion in guarantees to build plants in California and Arizona. Its profits depend heavily on subsidies from the government of economically troubled Spain.
Spain’s venture into Green Renewable Energies led to 20% unemployment. Wasn’t Obama’s promise of modeling after Spain a warning to America? OK, you’ve doubled down, lost it all, maxed the credit limit, what now? We print more money. We spend more money, which we don’t have. Our Government has a problem, and will not own up to its problem, and get help. Enter The Tea Party.
However, States are starting to wake up to this disorder the federal government as gotten itself into. They are refusing to accept federal money. They are refusing to partner with an addict that steals and misrepresents itself.
State officials are returning $23 million to the federal government, saying there were too many strings attached to stimulus money that was supposed to be for expanding high-speed Internet service in schools, libraries and government agencies.
The Obama regime wanted to put the taxpayers on the hook for a bad investment. Again, using money we don’t have.
Florida Governor Rick Scott, defending his rejection of $2.4 billion from the Obama administration for a high-speed rail project, said the program would have been a bad deal for taxpayers.
The rationale behind a high-speed rail system doesn’t make any sense when you already have government run Acela Express, and Amtrak, already seriously in debt and unprofitable. Plus the government makes the contract with the States, with strings attached, that puts the taxpayers responsible for paying it back to the government. The taxpayers never had a say if they ever wanted these services. A Transportation service that’s not needed, because there is no demand, no need, not wanted. It’s a train wreck by a government’s obsessive-compulsive disorder. Just like Obamacare, it will cost more, and do less. Can anyone say “Atlas Shrugged”?
Consider the case of Wind Power. This is South Point on the Big Island of hawai’i. This is just one of many Wind Farms that pollute the pristine landscape in Hawai’i. Where they sit like cold sentinels looking out over the Pacific ocean.
It’s not just here, these behemoths are springing up all over our beautiful country. In the end, the assembly and distribution of these monoliths to clean energy, will only cost more that just damage to the environment, but to our economy.
Deepwater Wind’s initial project will raise state and local governments’ electric bills by a combined $1.5 million in its first year, according to documents reviewed by the Target 12 Investigators.
Municipal electric bills will increase by a total of $1 million while state government’s bill will rise by $476,630, according to an estimate commissioned by National Grid from Energy Security Analysis Inc. The cost would rise by 3.5 percent every year for the next two decades.
The estimate was included in a document National Grid asked the R.I. Public Utilities Commission to seal from the public view as the panel weighed whether to approve a controversial 20-year contract between Deepwater and Grid. The PUC denied that request, opening the town-by-town breakdown up for public inspection.
Not only do they know it will make electrical rates higher, they also tried to hide that fact from the public. They know Obama’s promise of skyrocketing electrical rates under his Cap and Trade program will not only cripple the economy, but will cause massive job losses.
This is Hope and Change? How’s that working?
What’s For Dinner?
Ua Mau, Ke Ea O Ka Aina, I Ka Pono, O Hawai’i