One of the big problems with government when it becomes so large that it is unmanageable was proven with the recent announcement that Solyndra, a California solar company that President Obama visited and praised in May 2010, has announced bankruptcy. The Townhall.com and Washington Post links below report Obama in addition to visiting the plant approved the controversial Department of Energy’s low cost loan guarantee of $535 million that the American taxpayer will now eat.
In addition to the loss of $535 million there is also the loss of 1,100 jobs at a critical time in this down economy. When will this administration learn that shooting from the hip before doing the necessary homework on the economic foundation of any project they endorse is a recipe for failure?
Another perfect example is the ethanol program that has received millions of dollars in subsidies. It is a failed economic model! Across Europe we see that jobs were lost due to the so-called creation of GREEN JOBS, especially in Spain, with solar and wind turbine investments have proved to be economically unsustainable. In fact there for every “green” job created, two jobs were lost.
I wonder when one of the great journalists lounging daily in the White House Press Room will have the guts to ask a specific question about this latest failed GREEN ENERGY effort. Oh, well, I guess the White House thinks it’s only another half million dollars down the drain.