The U.S. taxpayers lost $100 billion in government loans and guarantees that were extended to Solyndra to make solar electricity panels. Environmentalists were originally thrilled about Solyndra.
Now they’re horrified, or at least they should be.
There was never the slightest chance Solyndra would ever succeed. The Chinese have for many years now been working on more efficient solar panels. Even if Solyndra had equaled their technology, there’s zero chance they would ever have sold even one solar panel.
China enjoys a 40% advantage because they keep their currency pegged to the dollar at a 40% discount. You can’t compete with that kind of pricing advantage, ever.
Far from advancing the green cause, Solyndra has destroyed it. People were skeptical of green energy before Solyndra went belly up. Now they’re prejudiced, afraid and hateful of green energy.
Even before Solyndra, using solar panels to generate electricity was a pipe dream. Who in their right mind would spend $20,000 to save $100 a month on your utility bills? Unless you live on a remote mountain where it would cost $150,000 to get electrical service, solar electric panels are a dud from the get go.
$100 billion could have doubled the attic insulation in every house in America, cutting our utility bills by 30% or more. It would have saved every family in the country ten times what the 2% reduction in payroll tax did. It would have saved every business in America 10% on their bottom line, freeing up money to hire more people and provide them better benefits.
$100 billion spent on home renovations would have put tens of thousands of people to work. (Unless the government required them to be paid Cadillac benefits and ten times the going rate in wages.) Millions of Americans would enjoy lower utility bills every month of the year. They’d have money for further home improvements, college for the kids, you name it.
$100 billion would have avoided this whole sequestration mess. Add the other bankrupt companies in Obama’s kill-the-green-industry agenda, and Congress could have also extended the Bush era tax cuts for another year.
The scariest part of all this is that it’s been totally ignored by the media. Not even Congress is investigating. If Congress approves such a gross abuse of basic, fundamental business acumen, how many other degenerate programs are there on the books?
I suspect everybody in Washington was horrified that Romney might be elected. They all have a guilty conscience when it comes to conducting our nation’s business in a proper and thrifty manner.
Obama gave $100 billion to the crooked cronies who got him in power, a sweetheart deal with no business sense other than getting him reelected. Congress sees no issues with that. They do it all the time.
Sadly, this whole fiasco illustrates why nobody can compete with anything Made in China. Congress knows this but refuses to label China a currency manipulator. Congress doesn’t want to get China angry at us.
Congress needs China to keep funding our $1 trillion annual deficit.
