Sunday, July 29, 2012

Obama gave tax money to campaign donors, then falsely claimed it was for "green energy"!

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Number 25 on a very long list of Obama's misdeeds:

The Obama administration gave $535 million to Solyndra, claiming that it would create 4,000 new jobs. However, instead of creating those 4,000 new jobs, the company went bankrupt. It was later revealed that the company’s shareholders and executives had made substantial donations to Obama’s campaign, and that the company had also spent a large sum of money on lobbying. In April 2012, CBS News reported that Solyndra had left a substantial amount of toxic waste at its abandoned facility in Milpitas, California. After Obama gave Raser Technologies $33 million to build a power plant, the company declared bankruptcy, and owed $1.5 million in back taxes. After Obama gave Abound Solar, Inc. a $400 million loan guarantee to build photovoltaic panel factories, the company halted production and laid off 180 employees. After Obama gave Beacon Power a $43 million loan guarantee to build green energy storage, the company filed for bankruptcy. After Obama approved $2.1 billion in loan guarantees for Solar Trust of America so it could build solar power plants, the company filed for bankruptcy. Although Obama stated that all of the green energy companies that received taxpayer money were chosen “based solely on their merits,” the truth is that 71% of these grants and loans went to Obama donors and fundraisers, who raised $457,834 for his campaign, and were later approved for grants and loans totaling more than $11 billion. By November 2011, the Energy Department’s inspector general had begun more than 100 criminal investigations related to Obama’s stimulus.

(Excerpt) Read more at danfromsquirrelhill.wordpress.com ...

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