See: Obama to unveil promise zone economic initiative
Joined by local leaders at the White House, Mr. Obama will officially announce the administrations first five promise zones -- pockets of the country that will receive comprehensive federal assistance after being especially hard-hit by the recession. The five zones will be located in San Antonio, Philadelphia, Los Angeles, Southeastern Kentucky and the Choctaw Nation of Oklahoma. The administration aims to ultimately assist 20 such regions.
Once again our President, instead of adopting national policies removing the iron fist of our federal government from Americas free enterprise system and its businesses and industries, he decides to usurp unconstitutional power and deliver federal assistance to meet his personal fancies, giving preferential treatment to his selected promise zones while ignoring our federal constitutions legislative intent, e.g., No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another: nor shall Vessels bound to, or from, one State, be obliged to enter, clear or pay Duties in another. Is it not clear by these words that our founders intentionally sought to prohibit federal power being used to favor one state over another or one community over another? And just what did one of our nations founders say which specifically addresses Obamas promise zones?
"The framers of the Constitution guarded so much against a possibility of such partial preferences as might be given, if Congress had the right to grant them, that, even to encourage learning and useful arts, the granting of patents is the extent of their power. And surely nothing could be less dangerous to the sovereignty or interest of the individual States than the encouragement which might be given to ingenious inventors or promoters of valuable inventions in the arts and sciences. The encouragement which the General Government might give to the fine arts, to commerce, to manufactures, and agriculture, might, if judiciously applied, redound to the honor of Congress, and the splendor, magnificence, and real advantage of the United States; but the wise framers of our Constitution saw that, if Congress had the power of exerting what has been called a royal munificence for these purposes, Congress might, like many royal benefactors, misplace their munificence; might elevate sycophants, and be inattentive to men unfriendly to the views of Government; might reward the ingenuity of the citizens of one State, and neglect a much greater genius of another. A citizen of a powerful State it might be said, was attended to, whilst that of one of less weight in the Federal scale was totally neglected. It is not sufficient, to remove these objections, to say, as some gentlemen have said, that Congress in incapable of partiality or absurdities, and that they are as far from committing them as my colleagues or myself. I tell them the Constitution was formed on a supposition of human frailty, and to restrain abuses of mistaken powers. Annals of Congress Feb 7th,1792 Representative Page
The best thing which could happen to rekindle Americas once thriving economic base would be to end all taxes calculated from profits, gains, salaries and other incomes; move to taxing consumption to fill our national treasury as intended by our founders; end minimum wage law, and end regulations which have chased so many of Americas factories, manufactures and industries to foreign countries. How would this help? Investors would quickly take advantage of this new tax policy and start up new businesses. It would also immediately help millions of young adults who have dropped out of school who are now unemployed, because businesses in the trades, manufactures and industries could hire them as trainees starting them at a very low wage and increase wages as each becomes productive.
And of course, tens of thousands of jobs would immediately become available if our socialist in the White House would get out of the way so the Keystone pipeline could be built.
But instead of following sound policies giving a rebirth to Americas economic might, our usurper in the White House wants to redistribute revenue from our federal treasury and give preferential treatment to his chosen few who just happen to be part of his inner circle. Have we forgotten his green energy money laundering operation in which he plundered our national treasury of $ BILLIONS and 80% of Obama green jobs money went to Obama donors.?
Let us take a look at the list who have profited off working peoples earned wages being transferred to them by Obama:
Beacon Power Corp: Received $43 million in federal loan guaranteed in 2009 and also received $29 million in PA grants Bankrupt in October 2011
Ener1 (parent company of EnerDel): Received $118.5 million in federal loan guarantees Bankrupt in January 2012 has since exited bankruptcy
Evergreen Solar: Received $58 million in MA loan guarantees (an undisclosed portion sourced from federal ARRA block grant) Bankrupt in August 2011 with $485.6 million in debt
Solyndra: Received $535 million in federal loan guarantees in 2009 and $25.1 million in CA tax credit Bankrupt in August 2011
SpectraWatt: Received $500,000 in federal loan guarantees in 2009 Bankrupt in August 2011
Babcock and Brown: Received $178 million in federal grants in December 2009 (4 months after it went bust) Bankrupt in early 2009
Mountain Plaza Inc.: Received $424,000 in federal grants through TN Department of Transportation in 2009 Bankrupt in 2003 and again in June 2010
Solar Trust of America (parent company: Solar Millennium): Received $2.1 billion loan guarantee in April 2011 Bankrupt in April 2012
Other Subsidized Green Energy Companies in decline:
A123: Received $300 million in federal grants and $135 million in MI grants Declining orders and have forced multiple layoffs
Amonix, Inc.: Received $5.9 million in federal tax credits in 2009 through ARRA Laid off 2/3 of work force
First Solar: Received $3 billion in federal loan guarantees Biggest S&P loser in 2011, CEO fired
Fisker Automotive: $529 million in federal loan guarantees Multiple 2012 sales prediction downgrades for first car release, delivery and cash flow troubles; Assembling cars in Finland
Johnson Controls: Received $299 million in federal grants in 2009 Low demand caused cancellation of a new factory, operating at half capacity
Nevada Geothermal: Received $98.5 million in federal loan guarantees in 2009 Defaulting on long-term debt obligations, 85% drop in stock value
Sun Power: Received $1.2 billion in federal loan guarantees Debt exceeds assets; French oil company took over last fall
Abound Solar: Received $400 million in federal loans in 2012 ½ work force laid off
BrightSource Energy: $1.6 billion federal loan approved in April 2012 loan obtained through political connections with the administration; absent the loan, Brightsources solar power purchase would have fallen through.
see:Green Energys Bankruptcy Blackout
Bottom line is, if there is money involved you can bet its designed by Obama to fatten the fortunes of his inner circle pals.
"To lay with one hand the power of the government on the property of the citizen [a working persons earned wage] and with the other to bestow upon favored individuals, to aid private enterprises and build up private fortunes [Obamas Solyndra, Chevy Volt, Fisker, Exelon swindling deals] is none the less a robbery because it is done under forms of law and called taxation."____ Savings and Loan Assc. v. Topeka,(1875).