There are quite a few lessons to learn from all the “green” failures with all of the Obama stimulus’. Don’t dump massive amounts of money via federal loans that don’t get repaid, especially when they leave huge environmental messes, and fail to produce what they say they will. Don’t dump money into things like weatherization which are rife with fraud, don’t work, and end up helping people who can afford it themselves. They don’t actually stimulate the economy (they do stimulate the pockets of rich people, especially those who donate to Dems). I’m sure you can think of plenty more. It was three years of failure. Even the hard left and climate cult UK Guardian was unimpressed. But, hey, let’s double down, right?
Biden’s Lesson From Past Green Stimulus Failures: Go Even Bigger
In September 2009, then-Vice President Joe Biden traveled to a defunct General Motors plant near his hometown, Wilmington, Delaware, to announce a $528.7 million government loan for Fisker Automotive to make hybrid and electric vehicles.
The funding for Fisker, a small luxury automaker, came out of the American Recovery and Reinvestment Act, a $787 billion economic stimulus plan secured by President Barack Obama to lift the nation out of the Great Recession, in part by creating “green jobs†with $90 billion for wind and solar energy, a “smart†power grid, weatherized homes and the electric vehicle industry.
What happened to Fisker, a car maker for the uber-rich?
Fisker went bankrupt in 2013 before the Wilmington factory produced a single car. Biden also personally announced a $535 million loan guarantee for Solyndra, a California solar panel company that then went bankrupt, leaving taxpayers on the hook. An advanced battery maker called A123 Systems, which Obama extolled as part of a vanguard of a new American electric car industry, received a $249 million stimulus grant, then filed for bankruptcy in 2012, the vanguard that wasn’t.
Oops?
Now, 12 years later, President Biden is preparing the details of a new, vastly larger, economic stimulus plan that again would use government spending to unite the goals of fighting climate change and restoring the economy. While clean energy spending was just a fraction of the Obama stimulus, Biden wants to make it the centerpiece of his proposal for trillions of dollars, not billions, on government grants, loans, and tax incentives to spark renewable power, energy efficiency and electric car production.
Yeah, let’s spend more money on stuff that doesn’t work, doesn’t stimulate the economy, but, is good at hooking up the rich and Biden donors, eh?
Biden’s advisers, many of whom worked on the Obama stimulus, say the situation is very different. The market demand for electric vehicles is much higher, and the cost of the cars much lower than in 2009, the year after Tesla Motors produced its first roadster. Solar power is more economically competitive. Wind is entrenched and expanding rapidly.
The market demand for rich people. Not so much for the middle class and poor.
Anyhow, it’s a long piece. Dems want to spend a lot of money which will do little, just like with the whole 1st 2009 Stimulus.
You guys need to wise up. I just got a call from the immigration lawyer my wife and many Asian immigrants have used. He and I are on a friendly basis and he knows we own a house in Ambler, PA that we rent out. He slapped me with this: The gov’t will pay me $4,200 per month for every “refugee” we house in our property. According to the lawyer we can house up to 8 people since it’s a 5 bedroom house. That’s over $33,000 per month! We need to fill out some forms and the house needs to be inspected by a clowder of gov’t cats but since it’s in perfect condition he sees no problem. Besides, the leftists are so strung out trying to find non-border state homes for these “poor refugees” they’ll approve just about anything.
The beauty is my current renters’ lease is up 5/30 and he is not renewing as he is one of the non-essentials who hasn’t worked for nearly a year and is moving in with his parents in Bucks Co. PA. My head is spinning. We can finally get in on The Elwood’s band wagon and grab myself the leftists handouts it seems everybody else is getting. We all know I could never qualify for this because I’m White but we’ll put it in the wife’s name and she’s Asian. Just like the discriminatory PPP programs that we put in her name. Tee-hee.
FRAUDULENT ELECTIONS HAVE CONSEQUENCES
ELECT A CLOWN EXPECT A CIRCUS Ok, No-one Really Elected Him But Some Nut jobs Did Vote For Him And Now Have The Dominion Of Responsibility For His Actions…
Like any good nuCon, The Kye has learned to partake of that good gubmint green! He grifted $2 million last year and has now figured a way to get $33,000/month! What a successful crony capitalist (authoritarian socialist) he is. A millionaire receiving millions of taxpayer money during a recession. Thank the gods for the the gubmint.
81 million Americans elected President Biden, sending the previous grifter-in-chief to the dungheap of history, LOL. The dungheap of history is reportedly upset.
If The Kye is so sure that America was stolen from him Nov 3, why did he hide at home when “patriots” were trying to Stop the Steal in DC? It’s an easy drive from Philly. Maybe he was busy filling out paperwork for more NuCon Welfare.
It’s not an “easy drive from Philly” for a person in a wheelchair who has to carry oxygen for the entire trip you useless scum. You are an idiot to think so. Aside of you trying to allude that I was shirking my Patriotic duty where were you? Don’t you thing that when massive fraud ins indicated at least some form of investigation should occur? Corse not. Your team won so regardless of how much cheating went on it’s “By any means necessary”.
You do remember my son attended the protest and is still being harassed by the gestapo for it.
Now, for the 10th time I did not “grift” $2 million last year IT”S A FUKIN SBA LOAN you fuking pig! You, like all fascists accuse others of something they didn’t do!!!!! You’re a liar and you are bearing false witness against me. But you demofascists are used to doing that to people. You did it to Trump for 5 years. That’s why nobody with a brain believes anything you say.
Furthermore, I didn’t figure “a way to get $33,000/month!”. The program was offered to people (including me) by your fake president to house the immigrants he allowed in against our will. Blame Xiden, not me. Or are only leftist fascists supposed to gain from the political money machine the dems created?
I may be “a millionaire” by the literal definition but I certainly don’t have a million in my bank account nonetheless, you sure are one jealous and envious leftist grifter. You’ve been livin off gov’t income all your life using your White Privilege to oppress the people around you and yet you cast aspersions. Wow, major self image problems. You should consult a psychiatrist about your envy and projections.
I am happy though that just my having the (as yet) unrealized potential to make a nice chunk of money off LEFTIST programs has thrown you into such a snit. You guys must really think only loser leftists can get all the goodies you steal from us taxpayers. I see that seething hate whenever you complain we take our Social Security and Medicare (which we paid for our entire working lives). Somehow to you communists and fascists trying to recapture they taxes we paid is a moral sin yet stealing that tax money from us is no problem, we deserve to be robbed. I spit on you and your envy and I want to thank you for making this immigrant program even better knowing it bothers you that I can qualify. Hahahahaha.
Kye,
The US is dead after the steal. Get what you can before the war starts.
Teach youvleft out a few facts about Fidker and Soldyna
Fisker paid back all but 139 milkionso with the solar company let’s put losescat 700 million
The DOE I think made about 30 billion in high risk loans
They lost 700nillion butviverall turned a profit on those high risk loans to American companies
The engineering firm I was working for during the Obama fiasco did the design for a plant under the name “Transform Solar”, built with so-called “stimulus” funds.
It was built, never made a single product, and the building today houses an RV sales business. This would be more of the same, with likely even worse results.