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Flashback: Obama Praises Now Failed MI Green Company

Flashback: Obama Praises Now Failed MI Green Company

A video has surfaced where Obama and U.S. Secretary of Energy Steven Chu are singing the praises of the heavily subsidized and now very troubled A123 Systems battery manufacturer.

A123 Systems is a poster child of government subsidies for green energy initiatives. Michigan gave A123 Systems $100 million in MEGA tax credits and $41 million in subsidies from the state. The Department of Energy awarded A123 Systems a $249.1 million grant as part of the stimulus.

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