|"It's a Shame" -- Taxpayers Scammed by the Green Lobby|
Waxman gives the impression that Solyndra was a spontaneous eruption and anomaly, as if he and his Democratic ilk -- especially the President who is trying hard to ride the Green Wave of environmental fanaticism to shore up his wiped-out base -- had nothing to do with such an extravagance and unaccountable expenditure.
That's all that Congressman Waxman has to say regarding the $500 million boondoggle that served up nothing but waste and bankruptcy.
Yet Waxman continues:
"We lost $500 mill lion dollars."
"That's a shame."
Yet a major official from the White House contradicted Waxman in an Oversight Committee Hearing.
The current administration is speaking out of both sides of its mouth on this issue, and Mr. Waxman has no regret or any sense of responsibility about the matter.
When will our legislators get off the environmental merry-go-round and get back to maintaining law and order in this country? Every time that the federal government sticks its nose into regulating anything beyond the enumerated powers of the Constitution, there is nothing but waste, fraud, and deception left in the wake, and the taxpayers by and large pick up the tab.
More than "a shame", Solyndra was a sham and a scam. Green technology bankrolled by the federal government is a dead-on-arrival proposal. Wind farms depend on subsidies just for the initial established. If these and other environmentally sound proposals were efficient and marketable, then they would not need multi-million dollar banking with federal taxpayer dollars.
Waxman continues in his "apology:
"That's why loan guarantees are provided. because these are risky enterprises, and not all of them are going to succeed."
There's nothing wrong with a loan guarantee, Mr. Waxman, provided that the creditor is using his own money to back up an investment whose failure will effect only the one who put down the money.
Private enterprise inevitably falls on the entrepreneur.
Yet Congress has no business floating loans of any kind for businesses. We the taxpayers suffer the losses, not the legislators who spend the money. Once again, Mr. Waxman cannot see the fiscal forest for the obsessive desire to save the trees.
Either Mr. Waxman never took an economics course in his life, or his utter disdain for the intelligence and the welfare of his constituents has just risen to new heights, where his off-hand regret will not in truth offend the very voters who expected him to manage the little revenue that this country has left.
And this man has the audacity to claim, "We're not broke. . ."