Americans are used to seeing their hard-earned tax dollars being wasted on failing enterprises. In 2009, the Obama administration began approving billions of dollars in loans to green energy companies. The most infamous of those companies was solar energy startup Solyndra. Obama approved a $535 million loan to Solyndra in 2009; Joe Biden and Energy Secretary Steven Chu even attended a groundbreaking ceremony for the company.
Two short years later Solyndra completely shut down, defaulting on their loan and leaving American taxpayers on the hook for the $535 million the government gave them. Though the most well-publicized, Solyndra is not the only beneficiary of green energy loans to default and leave taxpayers footing the bill.
Taxpayers have already had to cover the cost of roughly $1 billion in defaulted loans, with an expected total of over $2 billion in losses. With the number of green energy companies defaulting and operating at losses, this number is likely to go up over time.
Another government experiment gone horribly wrong is the administration’s creation of health insurance co-ops that accompanied Obamacare — more than half of which have already collapsed. To read a new report that shows that only four may be left in operation, continue reading on the next page:
yup, and VERY disgusting
Noone saw this coming
Bunch of b******t
False economy comes tumbling down . After he leaves office people will realize when we suffer the greatest recession since the Great Depression will people realize what a fraud he is .
United Health Care and Blue Cross- Blue Shield are closing in eight major highly populated counties in AZ. leaving hundreds of thousands without health insurance . Local FOX News PHX .
The Maine co-op I joined in good faith never paid the medical bills they pre-approved .My Doctors offices could not figure it out.I spent hours on the phone (mostly on HOLD) TRYING TO GET IT FIXED.AFTER 6 MONTHS OF TRYING TO GET THEM TO PAY i GAVE UP AND STOPPED MAKING PAYMENTS TO THEM AND STARTED MAKING MONTHLY PAYMENTS TO MY MEDICAL BILLS.Total bills they PRE-APPROVED FOR PAYMENT was over $7000.00 They payed a total of $238.00 I am making payments on the balance.GREAT PLAN WORKING GREAT????? OH WAIT THERE IS MORE!!!!!! At the end of the year when they were bragging in the news how they SAVED so much money they were going to send REFUNDS to members of the CO_OP.I did get a check for $374.00 which I applied to the bills they had FAILED to pay.Glad they were able to save soooooooo much money they looked good in the news
i wonder who got rich off this deal
Too bad politicians didn’t fight hard enough on this disaster either….This man is totally ruining everything in America and everyone just sits by. Wake up WASHINGTON!!!! why are the American people paying you????
I’ve been saying that from day one as well.
I Concur