Skip to comments.Obama: ‘Some of the Businesses We Encourage Will Fail’
Posted on 11/01/2012 11:29:18 AM PDT by Sub-Driver
Obama: Some of the Businesses We Encourage Will Fail By Matt Cover November 1, 2012
(CNSNews.com) President Obama told a campaign rally that some of the businesses we encourage will fail while talking about his plans for increased green energy subsidies in a possible second term.
Today there are thousands of workers building long-lasting batteries and wind turbines and solar panels all across the country, jobs that werent there four years ago, Obama said, touting his administrations efforts to subsidize the green energy industry.
Obama then admitted that not everything the government will bet on will be successful, admitting that in fact some of the businesses he plans to give taxpayer funds will be sure to fail.
And sure, not all of the technologies we bet on will pan out. Some of the businesses we encourage will fail, but I promise you this: there is a future for manufacturing here in America, he said. Theres a future for clean energy here in America, and I refuse to cede that future to other countries.
Obamas signature green energy subsidy program has been plagued by high-profile failures, most notably of solar-panel manufacturer Solyndra, which received $500 million in government loans and became the face of Obamas green jobs initiative before going bankrupt in 2010, defaulting on its government loans after administration officials took extraordinary measures to save it, even subordinating those loans to those of private investors, making sure that taxpayers were repaid last.
Normally, government loans are required to be senior to those of private investors, ensuring that taxpayers are first in line to get their money back if the company fails.
Other high-profile green energy failures include Abound Solar, electric car maker Fisker, and the much-hyped electric Chevy Volt....
(Excerpt) Read more at cnsnews.com ...
Translation: “Some of the businesses I King Obama choose to allow suckle at the taxpayer teet will fail, because it is I, King Obama who chooses the weiners and losers.”
Typo? What typo?
Translation: “Some of the businesses I King Obama choose to allow to suckle at the taxpayer teet will fail, because it is I, King Obama who chooses the weiners and losers.”
Typo? What typo?
“President Obama told a campaign rally that some of the businesses we encourage will fail while talking about his plans for increased green energy subsidies in a possible second term.”
I thought he didn’t want to return to the failed policies of the past four years? Ohhhhhhh...he must have meant Bush.
Gamble with your own damn money!!
Meaning, the money we steal and give to who we feel deserves it, will fail. It’s designed that way to line the pockets of their cronies. It is crminal.
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Complete List of President Obamas Taxpayer-Backed Green Energy Failures (as of Thursday, October 18th, 2012)
Evergreen Solar ($24 million)*
Solyndra ($535 million)*
Beacon Power ($69 million)*
AESs subsidiary Eastern Energy ($17.1 million)
Nevada Geothermal ($98.5 million)
SunPower ($1.5 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDels subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
National Renewable Energy Lab ($200 million)
Fisker Automotive ($528 million)
Abound Solar ($374 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($6 million)
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsens Crop Service and Olsens Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.4 million)*
Stirling Energy Systems ($7 million)*
LSP Energy ($2.1 billion)*
UniSolar ($100 million)*
Azure Dynamics ($120 million)*
Vestas ($50 million)
LG Chems subsidiary Compact Power ($150 million)
Nordic Windpower ($16 million)*
Navistar ($10 million)
Satcon ($3 million)*
>> Today there are thousands of workers building long-lasting batteries and wind turbines and solar panels all across the country, jobs that werent there four years ago,
Name 3, and state how many jobs have been created by each, at what cost to the taxpayer.
Hell... name ONE. Just ONE.
(He won’t, ‘cause he can’t be sure the one he names won’t go belly up before Tuesday!)
All of the Businesses We Encourage Will Fail
“Obama then admitted that not everything the government will bet on will be successful...”
That be the 127678th amendment where the government is supposed to able to bet on stuff.
Still did not own up to his failure, I see.
Would be nice to have a *running* total of all that added up, at either the beginning or the end of the list.
GREEN SCAM: 80% Of Green Energy Loans Went To Obama Donors - 19 Companies Went Bust
I’ll do it.
The numbers clime every day.
No you buggery pirate... ALL OF YOUR BUSINESSES ARE FAILING OR HAVE FAILED... PUNK!
Yea!Some Businesses may fail,but 100% of them?It seems like every business that received taxpayers dollars went bust.
There is a definite need for a criminal investigation for fraud here.Obama’s prints are all over it.
The 2009 stimulus set aside $80 billion to subsidize politically preferred energy projects. Since that time, 1,900 investigations have been opened to look into stimulus waste, fraud, and abuse (although not all are linked to the green-energy funds), and nearly 600 convictions have been made. Of that $80 billion in clean energy loans, grants, and tax credits, at least 10 percent has gone to companies that have since either gone bankrupt or are circling the drain.
Obama already had a built-in fall guy, “Biden was in charge” of the Stimulus book.
Obama then admitted that not everything the government will bet on will be successful...
Oh good God! What a colossal failure! Is that what government is for?...betting taxpayers money? This jackass must go!!! Remember to vote!
Sir Napsalot~: “ See?! Obama already had a built-in fall guy, Biden was in charge of the Stimulus book. “
Biden under the bus ?
Whoda thunk ?
Biden : Just another ‘pretty face’ to hope and despair ?
Third debate, Boca Raton, right after Romney stated to Obama, “Attacking me is not ... an agenda,” on the subject of the GM/Chrysler bail-out, then on to the topic of (”Some of the business ...” translated): “All of my cronies we throw money to will fail”:
PRESIDENT OBAMA: Governor, the people in Detroit dont forget.
MR. ROMNEY: And and thats I have the kind of commitment to make sure that our industries in this country can compete and be successful. We in this country can compete successfully with anyone in the world. And were going to. Were going to have to have a president, however, that doesnt think that somehow the government investing in in car companies like Tesla and and Fisker, making electric battery cars this is not research, Mr. President. These are the government investing in companies, investing in Solyndra. This is a company. This isnt basic research. I I want to invest in research. Research is great. Providing funding to universities and think tanks great. But investing in companies? Absolutely not. Thats the wrong way to go.
PRESIDENT OBAMA: Governor, the fact of the matter is
MR. ROMNEY: Im still speaking.
PRESIDENT OBAMA: Well (chuckles)
MR. ROMNEY: So I want to make sure that we make we make America more competitive
PRESIDENT OBAMA: Yeah.
MR. ROMNEY: and that we do those things that make America the most attractive place in the world for entrepreneurs, innovators, businesses to grow. But your investing in companies doesnt do that. In fact it makes it less likely for them to come here
PRESIDENT OBAMA: All right, Governor
MR. ROMNEY: because the private sectors not going to invest in a in a in a solar company if
PRESIDENT OBAMA: Im happy Im Im Im happy to respond
MR. ROMNEY: if youre investing government money and someone elses.
PRESIDENT OBAMA: Youve held the floor for a while. The look, I think anybody out there can check the record. Governor Romney, you keep on trying to, you know, airbrush history here.
You were very clear that you would not provide government assistance to the U.S. auto companies even if they went through bankruptcy. You said that they could get it in the private marketplace. That wasnt true. They would have gone through a
MR. ROMNEY: Youre wrong. Youre wrong, Mr. President.
PRESIDENT OBAMA: I no, I am not wrong.
MR. ROMNEY: Youre wrong.
PRESIDENT OBAMA: I am not wrong. And
MR. ROMNEY: People can look it up. Youre right.
PRESIDENT OBAMA: People will look it up.
MR. ROMNEY: Good.
Weren’t some of the Fiskers cars blowing up yesterday? That’s really unfortunate.
The only lie I see in his statement is that some will fail. If there isn’t a market to support them, and the govt $$$ trough runs dry, they ALL will fail!
It is a fact that if there isn’t a market that exists, when the govt support runs dry, they will close the hell up, and the CEO aka Obama bundlers will pack up a couple of suitcases of stolen cash, and wait for the next green venture.