Solyndra is just the tip of the iceberg

Obama's Green Tech 38.6 billion dollar boondoggle has created only a few thousand jobs.  The buck never stops at Obama's desk (but bucks flow to donors, allies, blue states, union workers operating under expensive Bacon-Davis mandates, and other political allies). From Carol Leonnig and Steven Mufson of the Washington Post: A $38.6 billion loan guarantee program that the Obama administration promised would create or save 65,000 jobs has created just a few thousand new jobs two years after it began, government records show. The program - designed to jump-start the nation's clean-technology industry by giving energy companies access to low-cost, government-backed loans - has directly created 3,545 new, permanent jobs after giving out almost half the allocated amount, according to Energy Department tallies. There are a number of defenses that companies and administration officials give to justify the risks taxpayers have assumed. None of them sound solid. Here is one...(Read Full Post)