Taxpayers Take $500 Million Hit For Obama’s Crony Capitalism
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“Green jobs” is a bust.
There was never a “business” there. From ABC News:
Peter Lynch, a longtime solar industry analyst, told ABC News the company’s fate should have been obvious from the start.
“Here’s the bottom line,” Lynch said. “It costs them $6 to make a unit. They’re selling it for $3. In order to be competitive today, they have to sell it for between $1.5 and $2. That is not a viable business plan.”
The half billion dollar Solyndra fiasco is just the tip of the financial disaster that is being wrought on American taxpayers to fund the mythical dream of “Green jobs” by Obama and his minions. There have been and will be many more since the money the American people produce with their hard work and devotion to duty is just play money to the Obama wastrels. The trouble with “spreading the wealth around” is that the wealth is destroyed in the process and the sum total of it is diminished.
Nice going, Barry. Can’t wait to hear your “major” jobs speech No. 847 next Thursday. We’re sure it’ll be different this time. How much is it going to cost us?