In researching yesterday’s posting regarding significant errors the administration’s made in its failed attempts to replace free enterprise with government control, I found an article by Ashe Schow on blog.heritage.org going back to October 18, 2012.
Mr. Schow's subject was the massive amount of taxpayer funds wasted on “green energy” projects, and the most recent listed on-line.
I bring this up again today because the article’s well worth reading, especially the list of failed investments, because, as Mr.Schow points out: “[The administration’s] foray into venture capitalism has not gone well. But the extent of its failure has been largely ignored by the press. Sure, single instances garner attention as they happen, but they ignore past failures in order to make it seem like a rare case.”
He goes on to write that, “The government’s picking winners and losers in the energy market has cost taxpayers billions of dollars, and the rate of failure, cronyism, and corruption at the companies receiving the subsidies is substantial. The fact that some companies are not under financial duress does not make the policy a success. It simply means that our taxpayer dollars subsidized companies that would’ve found the financial support in the private market.”
And this brings me back to my recurring question as to which premise is correct. Is the incumbent simply a misguided zealot whom totally disregards history, logic and basic common sense in a Machiavellian attempt to reshape the nation’s social structure? Or is he a dyed-in-the wool Chicago politician, ignoring the law, doing as he pleases regardless, and paying back those who put all the bucks into his campaigns without any real interest at all in their causes or intents?
Certainly not knowing the answer to my query, I do have some inklings as to which premise is correct. However, I think we’ll all have to wait a bit longer to find the truth. In the meantime, though, here’s a link to Mr. Schow’s article which helps to frame the subject:
President Obama's Taxpayer-Backed Green Energy Failures
That’s it for today folks.
Adios
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