Letter to the editor: Watts
September 28, 2012
To the Editor:
Government “investments.” Whenever we hear the word “invest” from politicians we should just look-out. It means they want more taxes for them to spend – not often wisely. For example:
• Vice President Biden on Solyndra: The “jobs are going to be permanent jobs. These are the jobs of the future. These are the green jobs. These are the jobs that won’t be exported. These are the jobs that are going to define the 21st century and the jobs that are going to allow America to compete and to lead like we did in the 20th century.”
If you don’t know what happened to Solyndra – bankruptcy, document cover-up and George Kaiser (the billionaire Obama fundraiser with the biggest stake in Solyndra) – you’ve been listening to MSNBC too much.
• 71 percent of Obama’s energy grants and loans were given to Democratic donors, bundlers, or members of his National Finance Committee.
• Raser Technology of Utah received a $33 million grant. It filed for bankruptcy in 2011.
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• Sun Power received $1.2 billion in taxpayer guarantees. Today, it owes more than it is worth.
• Aptera liquidated itself in 2011. It had received a $150 million conditional loan from the feds.
• Ener1 received a $118.5 million grant form the Department of Energy. It went bankrupt in January.
• BrightSource received $1.6 billion in guarantees and turned it into a $177 million loss.
• Beacon Power received $43 million in guarantees. It is now bankrupt.
• ECOtality received $126.2 million of our money. It posted a $45 million loss and will likely never be profitable.
• Abound Solar received $400 million in loan guarantees to build photovoltaic-panel factories. The company filed for bankruptcy and laid off all 305 employees.
• Nevada Geothermal received a $98.5 million guarantee in 2010. The company is failing.
• Then there is the Chevy Volt with Korean batteries, every vehicle recalled, and losses mounting (Government Motors’ pending failure is yet another subject).
Maybe you noticed that “investment” was one of the most spoken words at the Democrat Convention – do you want more “investment”?
Winter Park Highlands