Funny, isn't it? Whenever we see Republicans pinning a tale of profligate spending on the Democratic donkeys, we find the Grand Old Party with its elephant trunks buried deep in the same money trough. Republicans both in and out of Congress have been quite vocal in lambasting the Obama administration over a Department of Energy guarantee for a $535 million loan to Solyndra, Inc., a California company producing solar panels.
The loan, approved the under the President's $790 billion economic stimulus program two years ago, was praised by Obama and Vice President Joe Biden as the kind of investment in clean, green energy that will create jobs and keep America a leader in the global marketplace. But early this month, Solyndra filed for bankruptcy, leaving Uncle Sam and the U.S. Taxpayers on the hook for roughly $528 million. The company is now under investigation by the both the FBI and the U.S. Congress.
So, naturally, the Republicans have had a jolly good time in ripping the administration over green energy boondoggles and the fallacy that the way to revive a stagnant economy and create jobs is to increase government spending and make more public investments in private companies with a "progressive" (environmentally friendly, alternative energy) agenda.
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Jack Kenny (photo)