The Barack Obama Administration has been absolutely atrocious in signing off on terrible legislation and policy prescriptions.
ObamaCare. The $878 billion alleged “stimulus.” The $30 billion bump (to $50 billion) of the General Motors bailout. Cash for Clunkers. Cash for Caulkers. Dodd-Frank. Lilly Ledbetter. And on, and on, and on…
Then there’s the stuff the Obama Administration tried-and failed-to rush through the Donkey Congress (2009-2011). But because these things were also so heinous and because the Administration and Congressional Democrats had already reached their Heinous Maximus quotient, they were unable to pile them on We the People. There was Cap and Trade. And Card Check. And Net Neutrality. And…
Being stopped in Congress didn’t stop the Administration. It didn’t even slow them down. As President Obama said, there’s more than one way to skin these cats. These ways aren’t Constitutional. They are, in fact, dictatorial. But this from all appearances doesn’t bother Obama a whit. He is using his every Department, Commission, Agency and Board to jam through these terrible ideas-and more-via executive branch regulatory fiat. All of this goes a very long way towards explaining why we remain mired in plus-9% unemployment and less-than-1% economic growth.
Despite this non-stop, all-encompassing push of leftist policies, President Obama’s grievance-group base remains angrily, obnoxiously and often unintelligibly unsated (see: Occupy Wall Street). Though some of their anger is justified, at least from an Obama consistency standpoint. Remember January 22, 2009, two days after President Obama was sworn in? He then signed an executive order closing Guantanamo Bay. Nearly three years later… ummm, not so much.
That same month Obama vowed to get us completely out of Iraq “in sixteen months” – which meant May of 2010. In late October 2011 we look towards Mesopotamia and say – ummm, not so much(though Obama has now promised [again] that we’ll be out – by the end of this year. We shall see).
Obama’s leftist base is angry at the slow pace of the illegal implementation of Cap and Trade and Card Check. They’re angry that ObamaCare isn’t single-payer (even though it pretty much is). And on, and on, and on…
But there is one item on the leftist laundry checklist to which President Obama has remained obdurately faithful to the point of fact-excluding, willful ignorance. I give you: Green alleged “energy.” It’s not just the Administration slow-walking or outright denying petroleum drilling. Obama has turned the federal treasury into a Crony Socialist green “energy” venture capital firm.
It began with the $60 billion allotted to green “jobs” in the grotesque 2009 “stimulus” bill. We handed said titanic check to the self-avowed Marxist Truther, then-Green Jobs Czar Van Jones. Yes, that Jones; the one who’s built an entire fraudulent, anti-capitalism career on green “jobs” and green “energy”-who, at that “stimulus” time, admitted he couldn’t define what a “green job” is and that in fact no one could.
But despite that monstrous, wasted sum, it was Solyndra’s half a billion dollars down the rat hole that finally brought the green “energy” fraud to greater light. Solyndra makes expensive solar panels. Obama knew going in that Chinese-subsidized solar panels would make Solyndra’s unsellable, but he put his head down (in the sand?) and shoveled the coin therein anyway. A Solyndra veep was an Obama campaign coin bundler, but I’m sure that was just a coincidence. The Solyndra mess only raised further our antenna to the green “energy” scam. The Administration followed it up with $1.2 billion in loans to Abengoa Solar (Panel) Inc. (Warning: the website is in Spanish.)
This brings us to the Fisker fraud, where we gave $529 million to a Finnish car company to make the hybrid Karma. Never heard of that model? Here’s why – the base price for this hybrid is $96,000. And you thought the $41,000 Chevy Volt was a bargain. Fisker is yet another doomed-to-fail green “jobs” move the Administration blithely, vigorously defends. The lack of clarity on whether or not our coin created gigs here or in Finland is important but is by no means the only problem. The overriding concern is (or should be): after tens of billions of dollars of demonstrable green “job” failures, this Administration is still willing to waste even more of our coin thereon.
Which brings us to General Motors (GM), on whose bailout we are on the verge of losing about $15 billion. Government Motors, as we said, sells Volt hybrids for $41,000. Volt hybrids cost GM $41,000 to make. It’s a zero-sum, non-profit product. GM has sold less than 4,000 Volts thus far this year. For reasons that surpass understanding, they are ramping up production to 60,000 vehicles next year.
Making an unprofitable car is bad; making fifteen times as many non-profit cars as you have sold is worse. Adding a similar hybrid to the Cadillac line is worse still. But GM is all the way down with the green “energy” scam, way beyond merely making non-profit lemons.
GM last year received more green (non-energy) energy patents than any other organization on Planet Earth. Hopefully the thousand-and-one ways already listed have demonstrated this to be a total, miserable, pathetic, and expensive joke. And in bad joke harmonic convergence, GM spent $3 million to install solar panels at a (non-profit) Volt manufacturing plant in order to save $15,000 a year in electricity.
How’s that math for you? Here’s some more. We the People own just over 500 million shares of GM stock. For us to break even, they have to be sold at $53 per. Right now they’re trading at around $25. Which puts us – as previously stated – at just under a $15 billion loss. But there is a solution. GM is currently sitting on about $34 billion in cash. Our 500 million or so shares x $53 = about $26.5 billion.
Here’s a thought: Hey GM, why not buy us out and make us whole? Then your tilting at Leftist green “energy” windmills won’t continue to virtually ensure that we’ll lose tens of billions of dollars (the post-bankruptcy stock price was $34, meaning GM’s green “jobs” are doing a job on We the Shareholders).
Here’s another thought: You, Gentle Reader, can help make this happen. We have a website: www.BailoutCost.com, which not only tracks to the penny the loss We the People are about to suffer on the GM bailout, it has a Pledge:
I will not buy any Government Motors products until they’ve paid back American taxpayers.
Let us all sign and get GM to buy us out of the bailout. Just once, wouldn’t it be nice to just break even on just one of these colossal governmental messes?
Indeed it would.