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Throwing government money at private business is bad for the business. It takes the focus off designing and building a great, competative product and focuses it on the next government handout. I worked at such a company that went down by ~90% about 5 years ago.
Welfare rewards and encourages bad behavior...rather it's corporate or personal.
It also punishes good behavior of companies that are trying to do things the right way. Huge influxes of cash to companies doing things wrong makes it much harder for others to compete with them if they are being prudent and doing the right thing, so not only is it bad that these companies are failing, but were their competitors limited and now suffering too?
President Obama is proud of his bailout of General Motors but GM is probably going to have to bail GM out again. Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company.
GM would need to get about $53.00/share to break even on the bailout, but the stock is around $20.00 share. GM is unlikely to hit the wall before the election. It is also being propped by subprime loans.
American auto companies don't exist to make cars; they are in business to fund massive union health and pension funds. An exaggeration? Perhaps. But for Obama to be bragging about bringing the auto industry back from the dead is also an exaggeration and dishonest politics.
Instead of investment to improve unemployment, the deficit, gas prices, and poverty he has obsessively pushed "HIS OWN" agenda on the American people. Obama is more concerned with green then people. Then again, like he said at an interview on Letterman, "its' not a problem".
High Unemployment: Over 44 months - longest in history We all know it's much worse than even the official numbers reported because millions of Americans have given up and aren't counted anymore. Others work part time and are counted In President Obama's words, they've given up hope. The real unemployment number is closer to 11%. That's tens of millions of Americans! Wait until sequestration!
Huge Deficit: Increased Also is up on the President's watch. The deficit is now more than $16 trillion dollars. Obama has increased it in 4 short years what the previous 43 presidents couldn't do in 232 years.
Increased Price Of Gas: Doubled The price of a gallon of gas has doubled on Obama's watch. Gas hit more than $5 per gallon in some places.
Higher Poverty: Doubled Poverty is near a 50 year high on his watch. Poverty! The number of people on food stamps has doubled in his four years. Doubled! Although the President would like to distract from those four numbers, they are his to own.
Wasteful govt spending
Quote:
Originally Posted by petch751
This is our tax dollar at work. Anyone else want to invest their life savings and let Obama run their investments?
Solar Trust of America: FAIL – Filed Bankruptcy in Oakland, CA, April 3, 2012 – On April 2, 2012
Bright Source: FAIL – Bright Source warned Obama’s Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close. Lost Billions of dollars but Getting More Money To Keep Trying. Canyou say, “This isnt working?”
Solyndra: FAIL – Solyndra shut its doors and laid off 1100 workers in August 2011 After Billions in Losses
LSP Energy: FAIL – LSPEnergy LP* filed bankruptcy protection and a sale of its assets in Feb 2012
Energy Conversion Devices: FAIL – On February 14, 2012 Energy Conversion Devices, Inc. and its subsidiaries filed for bankruptcy
Abound Solar: FAIL – Abound Solar received a $400 million loan guarantee from Obama announced in June, 2012 that it would file for bankruptcy
SunPower: FAIL – SunPower stopped producing solar cells last year at near bankruptcy restructured only with help of, get this, oil giant TOTAL who owns 60% stake. Irony! Still struggling…
Beacon Power: FAIL – Beacon Power Corp filed for bankruptcy Oct 2011 just a year after Obama approved $43 million loan Government loan guarantee
Ecotality: FAIL – ECOtality, a San Francisco green-tech company that never earned any money on the verge of bankruptcy after receiving roughly $115 million in two loan guarantees from Obama
A123 Solar: FAIL - A123 received $279 million from taxpayers thanks to Obama’s Department of Energy loan guarantees and after Solyndra bankruptcy is getting another $500M from Obama and it has lost $400M
UniSolar: FAIL – Uni-Solar filed for Ch 11 bankruptcy in June 20 this year laid off hundreds got more Obama money still failing but still in business.
Azure Dynamics: FAIL – Azure Dynamics files for bankruptcy in June ter millions in Obama “Stimulus”
Evergreen Solar: FAIL* – Evergreen Solar received $527 Million in Taxpayer money from Obama filed bankruptcy
Ener1: FAIL received more than $100 million in government funding from the Obama administration* filed for bankruptcy January 2012
This is our tax dollar at work. Anyone else want to invest their life savings and let Obama run their investments?
Solar Trust of America: FAIL – Filed Bankruptcy in Oakland, CA, April 3, 2012 – On April 2, 2012
Bright Source: FAIL – Bright Source warned Obama’s Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close. Lost Billions of dollars but Getting More Money To Keep Trying. Canyou say, “This isnt working?”
Solyndra: FAIL – Solyndra shut its doors and laid off 1100 workers in August 2011 After Billions in Losses
LSP Energy: FAIL – LSPEnergy LP* filed bankruptcy protection and a sale of its assets in Feb 2012
Energy Conversion Devices: FAIL – On February 14, 2012 Energy Conversion Devices, Inc. and its subsidiaries filed for bankruptcy
Abound Solar: FAIL – Abound Solar received a $400 million loan guarantee from Obama announced in June, 2012 that it would file for bankruptcy
SunPower: FAIL – SunPower stopped producing solar cells last year at near bankruptcy restructured only with help of, get this, oil giant TOTAL who owns 60% stake. Irony! Still struggling…
Beacon Power: FAIL – Beacon Power Corp filed for bankruptcy Oct 2011 just a year after Obama approved $43 million loan Government loan guarantee
Ecotality: FAIL – ECOtality, a San Francisco green-tech company that never earned any money on the verge of bankruptcy after receiving roughly $115 million in two loan guarantees from Obama
A123 Solar: FAIL - A123 received $279 million from taxpayers thanks to Obama’s Department of Energy loan guarantees and after Solyndra bankruptcy is getting another $500M from Obama and it has lost $400M
UniSolar: FAIL – Uni-Solar filed for Ch 11 bankruptcy in June 20 this year laid off hundreds got more Obama money still failing but still in business.
Azure Dynamics: FAIL – Azure Dynamics files for bankruptcy in June ter millions in Obama “Stimulus”
Evergreen Solar: FAIL* – Evergreen Solar received $527 Million in Taxpayer money from Obama filed bankruptcy
Ener1: FAIL received more than $100 million in government funding from the Obama administration* filed for bankruptcy January 2012
Time to vote out this FAILURE of a President! Obama MUST GO!
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