Stimulus Spending, For What? For Who?

With the economy still in recession, and the President still touting his American Jobs Act, Americans are becoming more skeptical about what all the stimulus spending has done for them. And the news about questionable stimulus spending and special deals is beginning to bubble up to the surface. Some new, some old.

Old news that is coming around again is the Fisker Automotive  (now Tesla Motors) luxury electric sports car that Vice President Al Gore invested in. That company got a half billion dollars for so-called green jobs. It is an electric car. It is a luxury car with a 50 mile range in total electric mode. Big investment for no market. But it did create jobs, in Britain and Finland.

The Fisker Karma sedan is priced at $87,400, with buyers eligible for a $7,500 credit on their Federal income tax returns.

Want one? Call them up and put down your $25,000 deposit. They’ll let you know when it is ready. Sell price? $87,400 to over $109,000.

So we subsidize a car company whose target market is “millionaires and billionaires,” then we give them $7,500 more of our tax dollars to incentivize them to buy it. All that from the guy that calls himself a ‘warrior for the middle class.’

Then there is the Solyndra scandal (Solar-Gate?) that wasted another half billion taxpayer dollars. That solar panel company declared bankruptcy not long after receiving your half billion dollars. Another big investment in an industry where there is no market. Officers of that company are big-time campaign fundraising bundlers for President Obama. Now those green jobs went directly to China. And Solyndra’s execs are pleading the 5th in Congressional hearings about it.

Are you seeing a pattern here of connected democrats and Big Labor being on the receiving end of millions and billions of your (and your grandkid’s) tax dollars? All in the name of stimulus and green jobs.

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