Taxpayers Lose Another $118.5 Million As Next Obama Stimulus Pet Project Files For Bankruptcy


via Taxpayers Lose Another $118.5 Million As Next Obama Stimulus Pet Project Files For Bankruptcy | ZeroHedge.

“The irony is that while Solyndra may have been missing from the SOTU, Ener1 made an indirect appearance: “In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries.” Uh, no. Actually, the correct phrasing is: “…positioned America to be the world’s leading manufacturer of insolvent, bloated subsidized entities that are proof central planning at any level does not work but we can keep doing the same idiocy over and over hoping the final result will actually be different eventually.”

More of the same. Keep supporting something that is not economical and taxpayers foot the bill.

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