Fuel Efficiency Loans in GOP Crosshairs

The House of Representatives voted today to cut $1.5 billion from $4 billion in remaining credit subsidies for the Department of Energy’s Advanced Technology Vehicles Manufacturing program. The proposed cut was attached to a House Republican stopgap funding bill, which would avert a potential September 30 government shutdown and attempt to offset federal disaster relief aid by cutting the ATVM program. So far, less than half of the $25 billion slated for the program has been awarded, going to carmakers like Ford ($5.9 billion,) Nissan ($1.9 billion,) Fisker ($529 million,) and Tesla ($465 million,) to expand their advanced technology fuel efficient vehicles offerings.

A $1.5 billion cut to the program would actually result in $5 billion less in clean car funding, since the money would be taken from a $7.5 billion dollar federal credit subsidy that allows the industry to take advantage of the low-interest loans. The House bill was promptly voted down by the Senate later in the day, but as the two congressional chambers work toward a compromise that would keep the full government running past next Friday, it is unclear whether slashing the AVTM’s appropriations will be on the table for negotiation.

Some Republicans have seized on the recent scandal surrounding failure of California solar firm Solyndra as evidence that so-called green jobs programs like the AVTM don’t work. “The government should not be picking winners and losers—that’s what they’re doing with Nissan, Tesla and Fisker,” said Florida representative Cliff Sterns to The New York Times earlier this week. Democrats argue that the program has already saved or created nearly 40,000 jobs, with as many as another 60,000 still in the offing.

Meanwhile, after publishing a blog post in support of AVTM earlier this week, Tesla is reported to be seeking another loan from the program. No details are available about the size of the request or what it will be used for, but speculation has it that it could go toward the forthcoming Model S sedan (expected in 2012,) or Model X electric SUV model Tesla plans to release in 2014.


  • MrEnergyCzar

    By cutting green the amount of green subsidy, we’re saying that it’s ok for China to over subsidize their green tech industry thus assuring that those future jobs will be in China. We should be out subsidizing China so in 10 years those jobs will be in America. Very sad.

    MrEnergyCzar

  • Lad

    Who elects these guys? It’s a wonderment how people can keep on voting for representatives who work so hard to push them down the economic ladder and pull the rich and oil companies up the ladder with them. These guys think the voters are a bunch of idiot sheep who will believe the lies and self-serving ads they produce. Do you remember the time period 2000 and 2008, when this party had a financial free for all and plunged us all into the current recession?

    Get real people, the Republican’s grand plan is to go back to the Gilded Age where the rich people call the shots, the poor people work to help them get richer and more powerful, while the middle-class doesn’t exist. Vote for a person, not a party.
    When you vote for the Republicans, you are voting for “trickle up poverty.”

  • John K.

    “We should be out subsidizing China….” Really? How? Do you understand the difference between being a creditor nation and a debtor? We’re BROKE! ! ! China isn’t. Spending, like ideas, have consequences. Welcome to life.

    We can’t afford to throw another half-billion dollars down another Solyndra-like rat hole with self-serving “green” executives who take the 5th A on Capitol Hill.

    And the “financial free for all” was giving mortgages to those who were uncreditworthy. But since they were NAMs (non-Asian minorities), banks were forced to lend to them, lest they be branded “racists” who were “redlining” NAMs. But the emperor had no clothes — people who are uncreditworthy did not miraculously become responsible merely because they’re saddled with a home and a mortgage they can’t afford.

    The road to this Second Great Depression was paved with … political corruption. (“Barney, is that you?”)

  • Bob D.

    Thank you George Bush for the mess we are in !

  • James Davis

    Can you believe these two idiot republicans who want to plunge us, again, back into the fossil age where we were overran with – high gas prices, dirty air, dirty water, and radioactive land? And thanks Bush for plunging us into one of the worst recessions ever in the history of our nation. Get rid of those electric cars like Regan got rid of the solar panels and lets build 4 or 5 hundred nuclear reactors at $50 billion a shot and bring back GM’s 17 MPG clown cars and let GM create all the jobs they want in China and Chrysler in Italy.

    These two republicans should be tarred-n-feathered and ran out of America. We got rid of those kind of people in 2006 and 2008; how did we miss those two? Maybe we can sweep them out to the dumpster in 2012.

  • Michael R

    You misread the original post. It meant that we should out-subsidize China in supporting these new technologies. On the rest of your post, I agree with you that that load to Solyndra was a bad business decision, and it is being looked at – whether this outcome could have been foreseen (in which case someone will need to bear responsibility) or if this is just the reality that not every effort will pan out.

    But to take this to the banner and say that the government should not be facilitating new technologies because of that bad decision is a complete propaganda. You should look at the entire picture of the benefits that the whole program of supporting green tech/green jobs is bringing.

  • Michael R

    Regarding your comment “Do you remember the time period 2000 and 2008, when this party had a financial free for all and plunged us all into the current recession?”

    I think part of the problem in our current political discourse in this country is that the level of arguments has become so low generally that no side even tries to present a credible case to the other and just talks to their own. For instance, in the above comment, why would you say 2000 through 2008 when I am sure you know that the congress went to Democrats in 2006? You could have said 2000 to 2006 and still make your point without undermining the logic behind your argument.

    Same with the next post, who jumps from one bad load to condemning the entire government program.

    On the substance of this debate, I find it telling that the Republicans found savings in the program that facilitate green technologies and not in oil subsidies.

  • Charles

    “Do you understand the difference between being a creditor nation and a debtor? We’re BROKE! ! “

    We are broke because we have chosen to be broke. We listened to the fairytale of supply side economics and that the Laffer Curve bends south of 50% tax rates.

    Tax rates and unemployment do not correlate. The “job creators” create jobs when there is demand for their products. Huge amounts of money in the banks or investments do not create jobs.

    We need to cut spending and raise taxes (and not just on the rich). We need to spend borrowed money in bad times and save it in fair to great times. We must invest in future middle class jobs, even if that increases the debt.

  • Brent Matthews

    “The government should not be picking winners and losers—that’s what they’re doing with Nissan, Tesla and Fisker,” said Florida representative Cliff Sterns

    Ok, then please explain the bail out for GM and Chrysler!!!!!!!

    Members of the antiquated GOP do tend to often talk out of both sides of their mouths.

  • Joe

    All of you are jokes believing one sided politics’s of Democrats & Republicans. Green jobs is another name social justice, distribution of wealth and will fail just like it did in Spain! Capitalism should pick the winners and losers. We cant afford anymore debt! Obama is just as much to blame as Bush, if not more, because he is the current President!

  • Broke

    The U.S. is broke the coffers have been raided by all the Politicians and we are circling a drain of debt. LIVE WITHIN YOUR MEANS!!!

  • Max Reid

    If they want to cut subsidies to EVs, then we should cut the security for persian gulf countries which acts like a subsidy to Oil.

    Our National Debt is already @ 99% of GDP. No wonder we lost AAA rating.

  • Charles

    We lost our AAA rating because the GOP would not pass a clean debt ceiling bill. We do need to get spending and taxes in balance, but that is not what caused the rating change.

  • bobajoul

    That’s right Eric Cantor, we should be subsidizing BP for ruining the Gulf for a whole year, Exxon for dumping oil in Alaska and Koch Oil for corrupting our government. That is what we should be subsidizing, all the legacy extractionist industries that are starting to die, but bribe you fools regularly in campaigns.

  • bobajoul

    We are not broke, China holds less than 1T of our bonds, we hold well over 30T, so we can stop with the hysteria, and Social Security is fine financially. MEdicare needs fixing now, SS in thirty years. Stop playing chicken little about everything and attack these bozos with calmness and facts.

  • Van

    Lets see, we are against spending future generation’s money, but we are unwilling to cut any spending so we can fund the things we should.

    Lightsquared and Solyndra prove crony capitalism is in vogue, you give to my campaign, and I will loan your firm really big money.

    How much money is being spent on American made NMC battery production facilities? But a bridge to nowhere, no that gets funded due to an earmark. The E-mails around the Solyndra show politics and not science governed the loans.

    Not too bright, me thinks.

    Just like killing air pollution rules by cooking the “man-made global warming” books. The good guys need to stick to the truth.

  • Samie

    As for the politics of this I agree with Charles “We need to cut spending and raise taxes (and not just on the rich). We need to spend borrowed money in bad times and save it in fair to great times. We must invest in future middle class jobs, even if that increases the debt.”

    Unfortunately, most people don’t get this basic idea. Short-term thinking is how most approach economic and political situations….
    Contingency planning and investing long-term is unattainable for many politicians, which try to pander off short-term ideas so they can keep getting reelected.

  • Van

    Spending to establish government jobs or government contract jobs, as opposed to creating a market economy with reduced regulation is what most people do not get. We have tried the socialist economic model over and over, like in Europe, and all we grow is mountains of debt. We do not need yet another “5 year plan” where know it all’s pick and choosing winners and losers. No more Solyndra fixes.

  • TrasKY

    @ John K.

    Wow! First, you’re borderline illiteracy, as exemplified by your mis-reading of MrEnergyCzar’s original post, is only the beginning of the ways in which you embarrass yourself here. Your knee-jerk Ditto-head analysis of the Solyndra bankruptcy is as smart as such a thing can be, that is, not very. That company is the exception that proves the rule that subsidies for green industries are by and large a great success at providing jobs, improving the environment and weaning our country off foreign sources of energy, something that “drill baby, drill” will never do.

    But most embarrassing is your racist, yeah, I said it, interpretation of the mortgage crisis in this country and it’s relation to the financial crash that occurred just BEFORE Obama was elected. Yeah, a lot of people were given loans who shouldn’t have gotten them. But far more simply were steered into the wrong loans. Some of these people were minorities. But these bad loans only became a systemic, economy destroying disaster when they were folded into Mortgage Backed Securities and Credit Default Swaps in an endless cycle of deceptive repackaging and cross-collateralizing that took a manageable problem and multiplied it exponentially for the enrichment of a small group of oligarchs and at the expense of everyone in the country who was on the wrong side of the shell game.

    But this site is really about the cars, right? Not racist political ditto-head axe grinding.

  • Samie

    Van
    Really????
    Do you get that relaxed regulation and laziness for short-term profits lead to unattainable growth before the economic down turn? Democrats bailed out the less regulation idea averting a depression. Socialism, European economic model, really? Get a clue!

    Government helping educate workforces, tax credits for more energy efficient equipment, and low interest loans for expansion must all sound like waste to you?…..

  • Van

    Yes I get it. It was the Lefties that blocked legislation to prevent the housing market bubble, or in other words the lefties caused the economic trouble. And it was Bush who proposed and got TARP passed, averting the depression. But it was the Lefties that gave us porkulas and now porkulas 2. All government jobs or government contract jobs. Insane.

    Think about the regulation that blocked more than 100,000 new jobs at Boeing. It is the lefties that are killing the recovery with regulation.

    Government does not help education, our Education is failing, that is why the Union’s got Obama to “waive” the rules requiring remedial action for failed schools.

    I am a conservationist, and I believe in clean air and clean water, but I also believe in freedom and the market instead of the silly proposals of the dictatorial elite, i.e the Democrats. Only the truth will protect our island earth.

    I

  • TrasKY

    @Van

    If you think the housing bubble was caused by failed loans to minorities, as you seem to be implying, you really don’t know the first thing about the subject. Or is it that you only know the first thing. Minorities buying homes was not the cause of million dollar homes selling for three million dollars, nor was it ultimately responsible for the collapse of the economy. The bundling of mortgages into securities, which were then re-bundled over and over again as supposedly different things, each one the collateral for the debt that purchased the other, and then insured with credit default swaps which used as equity the very same loans in slightly different bundles was the cause of the collapse.
    The very internet on which we are having this discussion was developed could not in any way have been developed without the actions of the federal government. The roads on which you will drive your hybrid car would not exist without the government. The fact that rivers no longer catch on fire or kill all the life in them is due to the government. There is no free market without the government making it happen. To pretend otherwise, and I do know that wingnuts are only pretending, is dangerous and foolish and puts all of us in a precarious position on a precipice, one push away from a perilous plunge.

  • Lad

    I worry greatly when people start type-casting others as a lefty, a righty, a conservative, a progressive, etc., because most of the American people are somewhere in the middle and hopefully vote for the person and not the party. Most, I believe, know our Congress is bought by who has the money to defeat and elect the members. Most, I think, know we need Government assistance to guide our economy and still strive to build up business without the radical view of still believing the free market still exists…it would be great if it did; but, look and see how subsides have fed the oil interests when they don’t need it. Look and see how we tax stock market gains as opposed to wages…a free market?…no! The argument for a free market is a red herring to throw sand in the voters eyes and tear up the truth.

  • John K.

    Who needs hybrids, PHEVs, and EVs?

    Obama was elected and now, as Peggy Joseph so eloquently stated, “I won’t have to worry about putting gas in my car. I won’t have to worry about paying my mortgage. You know, if I help him, he’s going to help me.” And if you say Peggy was wrong or stupid, you’re a racist!

    http://www.youtube.com/watch?v=P36x8rTb3jI

    Actually, Obama really has helped lower the price of gas since it appears we’re entering a 2nd recession.
    http://finance.yahoo.com/news/The-upside-of-economic-apf-1068721792.html?x=0

    Will the Dems accept responsibility for this one? Or will they keep insisting on blaming Bush & Cheney?

    As far as people getting mortgages they should not have: don’t patronize NAMs (non-Asian minorities). They are as intelligent and have as much foresight as Asians and Caucasians. They can understand contracts like anyone else. If they disproportionately chose to ignore caveat emptor, they should be held to the same standards as anyone else. Your paternalistic attitude towards them smacks of racism. After all, as a good lib, I’m sure you believe “race is just a social construct.”

    MBSs and CDSs were invented to get NAMs high risk mortgages off the books of local banks so that they would continue extending credit to the uncreditworthy.

    Don’t worry: the one thing NAMs and Dems have in common is not accepting responsibility:
    http://www.youtube.com/watch?v=2UZ9l_AxKjA

  • Tom L.

    Conservatives always talk like the big bad liberals are going to destroy our freedoms. Well they’ve had their way mostly for the last 30 years and now the world is on the brink of another Republican Depression.
    Of course its nothing new in history the longest period of conservative rule was called the Dark Ages.

  • TrasKY

    @ John K.
    First, let’s focus on the one thing we can agree on is that video is pretty funny. I remember laughing at it at the time. To be fair to Peggy, i believe she was trying to express a couple of feelings slightly more complicated than “Obama is going to pay my mortgage for me and fill up my gas tank.” But moving on.

    As far as responsibility for the potential of a double dip recession, it’s just as easy to pin this one on Republicans, since it is coming in the wake of the GOP wave of 2010. Private sector job growth, even in the dismal August, are constantly being offset by layoffs at the state and local level and the sudden focus on budget balancing is ill-timed at worst.

    But as bizarre and ill-informed as your various analyses are, I still can’t get away from your euphemistic NAM, which is just code on the right for impolite words you use in private to refer to Blacks and Latinos. MBS and CDSs were created to make money. They are financial instruments designed to do nothing than create a product for Wall Street to sell. In and of themselves they cannot do too much harm unless they are misused in the way they were leading up to the collapse. There was indeed an imperative to keep giving loans to keep feeding the machine but these loans were only a small part of the actual collapse, just in sheer numbers. But if you think that the main source of bad loans was the imperative to give them to “NAMs” then you are just willfully misreading the situation to fit your own racist assumptions.

    As far as people being steered into the wrong loans, I can speak from my own experience. I am a non-NAM non Asian male with a college degree a decent amount of financial literacy. And, having worked as a paralegal on both the Michael Milken case and the Prudential Securities case, I can say that i have some understanding of scams. When I applied for a mortgage, the banker told me “this is the best loan for you.” “This is what you can afford.” I was buying a house in a town I didn’t expect to live in long so I was of course steered into an ARM, as these had lower rates than fixed mortgages. When I raised the possibility that we might not be out in three years, I was told that there was no way that rates would go up. The common wisdom now was that rates would continue to drop and that this was a new normal that would be around for sometime. Fortunately for me, I was out in three years. But I did rely on the “expertise” of the bank officer. I think most first time home buyers do the same, even when they go in with enough literacy on the matter to hold a meaningful conversation. Relying on a loan officer to help guide you to the right mortgage is universal to first time home buyers, regardless of their race. But this is such a small part of the problem.

    The irrational rise in home prices was another problem. Homes became valued on paper at entirely bogus levels, two, three, even four times actual value. But that’s only a small part of the problem.

    When 1000 mortgages are bundled into a MBS and that MBS is used as collateral to buy more MBS or more real estate or CDSs in an endless cycle of repackaging that’s the problem. That’s the shell game, the Ponzi scheme. If the problem was simply that large groups of first time home buyers, some of whom were minorities, were in the wrong mortgages and were suddenly defaulting, mortgages could be re-written. Some people would lose their homes. but it would have been a manageable problem. But that’s not what we had. So to lay the financial crash at the feet of Blacks and Latinos and their Democratic patrons is just a red herring. They were a small part of a small part of the problem.

  • James Davis

    I agree with you. The GOP does not understand the problem because they created the problem on (Fox Business News) and they will never take responsible for their own faults and failures and they will always blame their faults and failures on every one else, as they are now blaming it on the democrats since they controlled both houses when Bush started the country into its economic plunge to the bottom. But this collapse did not start when the dems controlled both houses…it started when the repugs controlled both houses and Bush was in office his first year and was sitting up his wars so he could be called a ‘War President’ like his daddy was and he needed funding for his and his daddy’s war efforts.

    When Clinton left office America was $2.3 trillion in the black, gas was $1.38 a gallon and unemployment was very very low. When Bush left office, America was 3.9 trillion in the red, gas was 4.15 a gallon, we had lost 10 million jobs, 125 F500 banks closed their doors, health care was out of control and only people with more money than brains could afford it, and the collapse goes on and on and on and it is all Obama’s fault.

    Until the repugs took the House of Reps. back, the economy was recovering by leaps and bounds; now the repugs are trying to plunge us back into Bush’s deep recession and blame it on Obama. The collapse of the American economy, the two very costly wars, and all the corruption in government will never be Obama’s because Bush is the author of the whole ordeal and Bush will always own his own work.

  • Samie

    To go back to what TrasKY said

    You often hear that one of the most appealing things about less government interference/regulations is that industries will self-regulate, which always benefits the consumer. There is a simple conflict of interest with this, when a business has to put profits above rightfully educating consumers about their home loan options you will never get full disclosure of your rights as a consumer. Also, for-profit lenders used legislators/courts to make arbitration more favorable to their industry (depending on state though as of late arbitration agreements have been used to a lesser degree). And in other industries that lack proper regulation, some businesses are leading the way in championing tort reform. So when the consumer can not rely on government to regulate/disclosure or use courts to fully take up disagreements or safety issues, there are some dangerous consequences that can happen…

    John K.
    Your comments on this one are silly. You piece snippets of things you want to hear into your comments to form a bias judgmental story, which is not the whole truth or reality. Your use of talking-points are the type of propaganda that political hacks love. You know as well as I do that the economy is interconnected, economic cycles don’t fully coincide with political cycles, and that Dems and Reps are both responsible for deregulating financial markets, as well as both parties excepting generous donations to their re-election bids that often clouds their judgement on major economic reforms.

    “Don’t worry: the one thing NAMs and Dems have in common is not accepting responsibility:” Do you think Republicans have also accepted responsibility for their part in the deregulation of the financial markets? They have shown no responsibility for their actions as well as ratcheting up rhetoric that may lead to more instability and government bailouts.

  • Mr. Independent

    I love the folks who say we shouldn’t spend money on building cleaner more fuel efficient cars. These are the same people who feel oil companies who make billions in profit should continue to get millions in tax breaks. They are qucik to try and cut subsidies to build cleaner more fuel efficient cars but if you ask them to cut the tax breaks to the oil companies they throw a hissy fit.

    God forbid we do something to cut our reliance on oil. Nope, instead we need to drill everywhere we can for two quarts of oil, keep importing oil from countries who do not have our best interests at heart, and continue polluting the environment.

    Brilliant, absolutely brilliant.

  • TrasKY

    Regardless of whether the countries from whom we import oil love us or hate us, we need to convert our economy to one built primarily on energy we produce ourselves. And we need a manufacturing base. We need to be able to make a significant proportion of the things we use and produce the majority of the energy we consume.

  • Charles

    TrasKY, I would like to add we need to avoid being an exporter of raw material. Exporting value added goods is much better for the economy. Even Bolivia knows this to be true.

    PS, by your nym, did you spend time at the university across the woods?

  • TrasKY

    @ Charles Yeah, good point. When a country starts exporting it’s raw materials it’s kind of a one way street to the third world.
    And no, i didn’t go to Transylvania. I live in Lexington, though, and am just combining my name and the abbreviation of the state. But that’s a good guess. I thinking maybe you’re a graduate?

  • Max Reid

    http://news.yahoo.com/toyota-adds-first-tiny-minicar-japan-lineup-081613264.html

    Toyota to sell Minicars (660 cc v3 engine) in Japan. Why not they bring it here. These cars have very high mileage.

  • TrasKY

    @John K. Oh, and I called your interpretation of events racist. But while we’re at it, and since you said “you are a racist” to me, I’ll just say it straight up. You’re a racist. Your vision of Blacks and Latinos as willfully gorging themselves at the government trough at the expense of hard working, play by the rules Americans is right out of “Birth of a Nation.” It’s too bad, because you are on to something in realizing that a scam has ben perpetrated but you mis-locate it because of your desire to be spoon fed all your information from ultra-right wing news sources. If you look a bit deeper you might learn something.

  • Octavius

    I think the point to be taken here is that the government is pronouncing the blessing on select firms, e.g., Tesla, who are pushing the envelope, but may still go belly up when the big boys capture the conusmer market because they can realize economies of scale that Tesla can’t.

    The point is, Solyndra must have seemed like a good bet to someone, but that didn’t keep it from cratering, and taking the taxpayer’s money with it.

    Generally speaking, better decisions get made when a company has it’s own money on the line (or the money of willing private investors who are prepared to take risks) , than when the taxpayer’s nickel is. I am fine with the government doing basic research, since private companies aren’t likely to fund research that won’t pay off for 20 years, but let the private sector place their bets on the winning technologies in cars, or whatever, and let the private sector take the losses on the losing bets.

  • Charles

    TrasKY, I spent some time at UK, the ex is a Transylvania graduate. I will be biking around Walnut Hill and Delong next week to work of some Joe B’s pizza and Billy’s Bar BQ.

    Sorry, folks, I would have sent a private message for this small world follow up if it was available.

  • Charles

    One last totally off topic post small world post.

    Here are links to two pictures of TrasKY’s home town:

    http://www.flickr.com/photos/bike4freedom2/3151437480/
    http://www.flickr.com/photos/bike4freedom2/3150603641/

    Both are IR shots.

  • TrasKY

    @octavius
    Yeah, there are pitfalls to the much ballyhooed public/private partnerships. We might be better off just creating a program like NASA but for the sake of developing the technologies that we all know we need. But we’re not great at doing cost/benefit analyses of our government spending, tending to take the approach that it is all a giant waste.

    That said, don’t let the failure of Solyndra fool you. This loan represented less than two percent of this program and overwhelmingly these loans have been a success at developing technology and providing jobs. Even the Chamber of Commerce predicted that the proposed cuts would eliminate 45,000 jobs.

    And, while it might seem to make sense that companies make better decisions when it’s just their money or that of investors, there really is no evidence of that. In fact, just a quick glance at the disasters of the tech bubble and the dot com bubble would seem to imply just the opposite. Meanwhile, the success of the internet as an entity would seem to argue that government involvement in developing the technologies that will define our future is not just a good idea it’s an essential piece of the puzzle.

  • TrasKY

    Charles. thanks for the pics. Enjoy the BBQ. Check out Table 310.

  • Van

    @ Trasky
    “If you think the housing bubble was caused by failed loans to minorities, as you seem to be implying, you really don’t know the first thing about the subject.” Straw man argument, I said the Democrats block the legislation to correct the flaws in Freddie and Fanny. Strike one.

    I am a minority!!
    Strike two.

    To question how much I know to simply to employ the logical fallacy of ad hominem.
    Strike three.

    Wingnuts evade truth, folks.

    “The bundling of mortgages into securities, which were then re-bundled over and over again as supposedly different things, each one the collateral for the debt that purchased the other, and then insured with credit default swaps which used as equity the very same loans in slightly different bundles was the cause of the collapse.”

    Yes and the legislation to correct this problem was blocked by the Democrats. LOL

    Next we get evasion, discussing what government should provide, rather than what it has failed to provide. ROFLOL.

    Yes government needs to create the regulatory environment where enterprise, the market, can thrive. Lightsquared, housing bubble, Solyndra, Boeing, and on and on reflect crony capitalism of the worst sort.

  • TrasKY

    @Van
    You’re kind of all over the map here so I will just deal with strike two. First, I assumed that, like John K. you’re “lefties caused the housing bubble charge” was with regard to loans to minorities. If not, then sorry but being a minority wouldn’t give you any expertise on that subject so I am appealing this strike to the umps.

    And did you say that the books on global warming have been cooked?

  • Van

    Did I say the books on global warming have been cooked? No, but I did say the books on manmade global warming have been cooked. Recall the e-mails showing they sliced and diced the data to make the case?

    Did I say being a minority made me an expert? No so yet another strawman. Why not address what I said, the Democrats blocked the reform that would have prevented or minimized the housing bubble created by the Democrats.

    As far as being all over the map, let me number the points:

    1) Lefties are against spending future generation’s money, but we are unwilling to cut any spending so we can fund the things we should like NMC battery production facilities.

    2) Lightsquared and Solyndra prove crony capitalism is in vogue, you give to my campaign, and I will loan your firm really big money.

    3) Spending to establish government jobs or government contract jobs, as opposed to creating a market economy with reduced regulation is what most people do not get. We have tried the socialist economic model over and over, like in Europe, and all we grow is mountains of debt. We do not need yet another “5 year plan” where know it all’s pick and choose winners and losers. No more Solyndra fixes.

    4) Government needs to create the regulatory environment where enterprise, the market, can thrive. Lightsquared, housing bubble, Solyndra, Boeing, and on and on reflect crony capitalism of the worst sort.

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