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Politics : Formerly About Advanced Micro Devices
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To: PROLIFE who wrote (640330)12/29/2011 9:46:52 AM
From: i-node2 Recommendations  Read Replies (1) of 1581272
 

He counted not only incentives offered directly to GM or to the ultimate buyer, but also those offered to suppliers of parts and technology for the Volt. The Department of Energy, for example, awarded a $106 million grant to GM’s Brownstone plant that assembles the Volt’s batteries. The State of Michigan awarded $106 million to GM to retain jobs in its Hamtramck assembly plant. And Compact Power, the company that makes the Volt’s batteries, received $100 million in “refundable battery credits.”

Some of the subsidies and credits are extended over varying periods of time and some are dependent upon certain production “milestones” being achieved. He counted them all along with subsidies to companies vying to provide batteries for the Volt such as the support provided to A123 Systems. A123 lost the battery contract to Compact Power, but Hohman included their subsidies in his study as well.

The total of all subsidies, grants and credits is $3 billion: $2.3 billion in federal money and $700 million in Michigan’s money. That’s enough to purchase 75,000 Volts at the current sticker price of $39,000.

If this doesn't anger a person, he has to be f'ng stupid. Here we sit on 15 Trillion in debt, and these fools are just SPEWING our kids' money down the tubes, wasting it. Totally wasted.

Really makes me sick. This crap ought to be stopped NOW.
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