The bankruptcy filing yesterday by electric-car battery producer A123 Systems Inc. (AONE) gave Republican Mitt Romney fresh ammunition to criticize President Barack Obama’s record on the economy.Billions and billions pissed away by this administration on technology that isn't viable and isn't marketable as much as try. How many of these companies have failed; Here's the short list:
“A123’s bankruptcy is yet another failure for the president’s disastrous strategy of gambling away billions of taxpayer dollars on a strategy of government-led growth that simply does not work,” Andrea Saul, a Romney campaign spokeswoman, said in an e-mailed statement yesterday.
Fisker Automotive
Tesla Motors
Solyndra LLC
Ener1 Inc.
Total taxpayer dollars pissed away on these flops: Tens of billions. Loans to the two car companies totaled $5 billion+. Solyndra -- nearly $600 million, $249+ million to this stupid battery company. And these are just the ones we know about.
This doesn't count the $7500 (now $10,000) in tax credits to buy worthless electric cars that don't work the way they are supposed to. And even with this tax credit, they can't give away Chevy Volts. If you want to go out and buy a "non-electric" electric car, knock yourself out, but don't expect the taxpayers to pay you a bonus for it.
Meanwhile back at the White House, we cut back on oil leases on public land, throttle offshore oil leases while loaning other countries money to drill offshore where we should be drilling and use the EPA to beat the coal industry to death, killing tens of thousands of jobs in the process. In short, we are discouraging production of all of the current energy sources that work while we piss money away on unproven, unmarketable, money-losing technologies that don't work.
A few weeks back on the campaign trail, Barry made fun of Mitt Romney's claim that you can't put a wind turbine on the back of a car. The fact that he would mock this factual statement shows just how out of touch with reality he is. Throw a wind turbine or solar panel on the back of your car and see how far it gets you. Hop in a Nissan Leaf and head off for a nice 500-mile drive across country, try to fit your family of four and all their luggage into that "Smart" car fro a trip to Disney World from Iowa. Go out and get an estimate on going off the grid by putting a wind turbine or solar panel in your back yard then see what happens when the wind don't blow or the sun don't shine. This stuff doesn't work and all the taxpayer money Barry throws at it won't make it work, which is just one of the hundreds of reasons why Barry has to go.
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