Alternative Energy + “shovel ready” + $814 billion = bankruptcy

The promise was to end America’s dependancy on foreign oil. The promise was to solve the financial crisis. The promise was to create jobs. These promises were made before and after the 2008 election by President Obama.

Then came the action. Buoyed by a supermajority, a guarantee that no matter the opposition of Republicans any law, reform, and/or economic plan proposed by President Obama it could not be stopped, we received the Stimulus. Then, after months of in-fighting among Democrats alone, we received the Health Care Reform. In between we had the takeover of GM, and retro-active taxes on corporate bonuses – that were initially approved of by the same Democrats that later denounced them. Also there were the new regulations from the EPA, targeting the coal industry and power generation – part of global warming prevention efforts and a move to alternative energy sources.

Plus there was the appointment of Jeffery Immelt (CEO of GE, which owns MSNBC that supports the President and Democrats with extreme bias) as the head of a Council on Jobs and Competitiveness. A position whose purpose was to create jobs and keep them in the US.

Those are all facts. So are the results.

The Stimulus, against all the proclimations of friendly news media and more than a dozen press conferences, has failed. It has exceeded its initial cost, created more jobs in Government than the private sector, failed to acheive any of the primary target goals, and failed to lower unemployment.

The Health Care Reform is poised to slow job creation according to several analysts. It will not save money or be nuetral to the deficit – in fact it is one of several factors currently increasing the cost of healthcare in the nation. That’s not even counting IF the law is constitutional, which is in major debate, and the majority of Americans continue to desire it repealed.

GM exited banckruptcy, had an IPO, and after a brief and paltry increase in price has been below IPO price for the majority of the year. Targets of eventual profit exist, but the same factors that caused the initial failure remain unresolved. Even after bondholders were, arguably, wrongfully deprived of their priority rights to the old assets – to give those benefits to unions and the Government. A government that is actively planning to sell its shares, at a loss – ensuring that the American public who paid for the “investment” will NEVER see a break-even or positive return on the money that increased the national debt.

As for the coal industry, well the current regulations, put in place because a supermajority of Democrats was not enough to enact Cap & Trade legislation, will ensure that 10% of America’s energy disappears. Not replaced, just unable to be created.

But what about the renewable energy?

Well here are a few examples of where that is. There is a glut of ethanol right now. At the same time, food prices have risen (though not called inflation for some reason) – in the form of smaller portions at the same price. Which says nothing of the creation dead zones in the Gulf of Mexico. Areas where no life exists because of a lack of oxygen. Not because of the opil spill, these existed before – and are connected to ethanol production.

But at least it is creating jobs? The head of GE is helping to make sure of that right? Well, no and no.

GE is in fact shipping jobs to China. In fact, so has the alternative energy sector. Evergreen Solar Inc., which went bankrupt on Aug 15th, got over $58 million in State and Stimulus funds. It was a darling, at the time proclaimed as “earning 85%” of the funds given to it in the jobs it created. In 2010 they moved jobs to China, and cut 800 jobs in March 2011.

So much for the success of solar panels, that can be made cheaper in China and are not effective in the majority of the nation or on a mass-scale. So much of earning 85% of the funds taxpayers gave them. So much of creating American jobs.

Of course that’s just 1 example. Solyndra, built largely with $535 million in federal loan guarantees (Stimulus) – funds that were alleged to be misappropriated as they were “fast-tracked”, is another example. President Obama, on May 26, 2010, said

“When it’s completed in a few months, Solyndra expects to hire 1,000 workers to manufacture solar panels and sell them across America and around the world.”

Just a touch more than a year later, President Obama isn’t saying a word as 1,100 former emplyees are being laid off and the company has filed bankruptcy. But at least jobs didn’t go to China. Though ABC News was curious about the way Oklahoma oil billionaire George Kaiser, an investor in Solyndra, who raised money for Obama was involved in how Solyndra got funded.

It’s that coincidence that brings us to Jeffery Immelt, CEO of GE. There is no denial that MSNBC is a major cheerleader for President Obama. To do so requires approval from GE, and thus Immelt himself. Odd that Immelt finds himself the recipient of a critial posting in a Council to create American jobs and benefit the nation. Especially once you consider that under Immelt, GE paid NO TAXES in 2009. In 2010 they received $3.3 billion tax refund. That was not an error in typing, yes REFUND. Which we are sure helped the economy immensely – as well as providing Immelt himself with a $15 million paycheck.

But don’t forget, GE also created jobs, in CHINA.

When you look at the facts, without bias and just facts that are not in question, we believe you have to come to 1 conclusion. There is a problem either with what was promised, or what was done in executing those promise. What was promised was an improving and better America – we doubt anyone has a problem with that (China, Iran, North Korea, and Venezuala excepted of course). Therefore the execution is to balme.

Now we know the blame, according to Democrats and left friendly media must lie with Republicans. EXCEPT, all of the above was started and put in place before Jan 2011, which was the first chance during the Obama Presidency that Republicans had a chance to do ANYTHING. The Tea Party, which is not even a political party but an ideaology some Americans follow, likewise has no power to start or stop ANYTHING in Government.

That just leaves President Obama, and Democrats.

What you do with the facts is up to you. But no matter how well-spoken the President is, or how terribly Democrats denounce fellow American citizens, the facts DO NOT CHANGE.


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About the Author

Michael Vass
Born in 1968, a political commentator for over a decade. Has traveled the U.S. and lived in Moscow and Tsblisi, A former stockbroker and 2014 Congressional candidate. Passionate about politics with emphasis on 1st and 2nd Amendments.

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