Why do we need to spend all the money we are? I don't want to pay one cent more in tax when the government throws it away on things like the National Endowments of the Arts or the Humanities, just to pick two easy examples of waste.
Or look at the vast sums Obama wasted on green energy programs that failed. We didn't need to spend any of that money. Grants .... I'm not going to look it up but we spend hundreds of millions in direct grants to the various Solyndras, Fiskers, etc. Plus we guaranteed billions against projects most people knew would fail:
Obama clean energy loans leave taxpayers in $2.2 billion hole
Taxpayers are on the hook for more than $2.2 billion in expected costs from the federal government’s energy loan guarantee programs, according to a new audit Monday that suggests the controversial projects may not pay for themselves, as officials had promised.
Nearly $1 billion in loans have already defaulted under the Energy Department program, which included the infamous Solyndra stimulus project and dozens of other green technology programs the Obama administration has approved, totaling nearly about $30 billion in taxpayer backing, the Government Accountability Office reported in its audit.
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Across the entire loan program there have been five defaulted loans: two solar panel manufacturers, Solyndra Inc. and Abound Manufacturing Solar LLC; two green vehicle programs, Fisker Automotive Inc. and the Vehicle Production Group LLC; and one energy storage project, Beacon Power.
GAO investigators said those technology projects were risky from the start, and each had a shaky credit rating. By contrast, the more than 20 projects up and running that focused on energy generation or transmission have done well, with not a single default, the investigators said.
GAO investigators have been warning for nearly a decade that the loan programs are unlikely to pay for themselves overall.
From the beginning, the investigators said because companies knew more about their projects and their own creditworthiness, they had an advantage over the Energy Department. The GAO said the companies were more likely to accept a federal loan guarantee if the Obama administration underestimated the actual risk of a project, leaving taxpayers on the hook.
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http://www.washingtontimes.com/news/2015/apr/27/obama-backed-green-energy-failures-leave-taxpayers/ |
