Eagle Forum Legislative Alerts

Thursday, November 17, 2011

Government Should Not Be Picking Economic Winners

Government's entry into the field of trying to control climate by regulations, taxes and handouts is a convenient cover not only for deliberately lowering our U.S. standard of living, but also for imposing socialism on America. So, most of the $800 billion Obama Stimulus money was dedicated to REPLACING America's dependable energy sources of coal, oil, natural gas and nuclear WITH less efficient, less dependable and more expensive green energies such as wind and solar.

A case in point is the scandal of Solyndra Inc. This California-based company is a very politically correct green firm making solar panels. Obama is a true believer in green energy, as well as in socialism's fantasy that government can and should pick winners and losers in the economy. So he gave a half billion dollars of Stimulus taxpayers' money to a company called Solyndra. It didn't hurt Solyndra's application that some of its investors were donors to Obama's political campaign.

The trouble with green energy is that it simply can't exist without government subsidies. It cost Solyndra $4 for every watt of power it produced while China produces solar panels at 75 cents per watt. So Solyndra couldn't exist even with the massive government grant that Obama gave them. Just as soon as it received the Stimulus money, Solyndra filed for bankruptcy.

Meanwhile, Obama is working with the UN to fundamentally transform America with a new global tax. His appointee Marisa Lago is attending UN meetings to design a proposed global tax to build a "Green Climate Fund."
This Fund is designed to pay for greening the global economy, estimated to cost $1.9 trillion annually for the next 40 years. At first, it is expected to raise at least $100 billion a year, but if the UN's tax design is approved in December at a UN meeting in Durban, South Africa, it could increase to nearly $2 trillion every year.

Listen to the radio commentary here:

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