Excerpts from Politico
By: Reince PriebusWednesday, September 14, 2011
“As President Barack Obama takes to the road to sell his Stimulus II, troubling news about the last stimulus continues to break. The House Energy and Commerce oversight subcommittee Wednesday begins its investigation of Solyndra, the stimulus-funded solar energy company that recently declared bankruptcy. The company, which laid off 1,100 workers after its sudden demise, once looked like the poster-child of stimulus success.
“‘The true engine of economic growth,’ the president said in May 2010 while at the company’s California headquarters, ‘will always be companies like Solyndra.’ It’s no wonder the economy is stalled …
“Digging beneath the surface, the situation gets more troubling. The White House’s relationship with Solyndra, it turns out, was a mix of corporate favoritism, big-money politics, liberal ideology and Chicago-style deal making. As the Obama administration dealt favors, the American taxpayers got stuck with the $535 million bill.
“Before Congress considers Stimulus II, the Obama White House must answer for its reckless handling of sStimulus I …
“Today, in the middle of this scandal, the president is asking the American people to throw good money after bad with a ‘jobs plan’ that is a combination of old ideas and new “stimulus.”
“But there is a question that should be on every American’s mind: After wasting $535 million on one green energy company, how can we trust you to manage another $447 billion? How will more of the same be any different?
“The White House, which prides itself on being the “most transparent” in history, must prove that this time is different — lest it seal its reputation as the least accountable in history. It should release the details of all those White House visits from Solyndra officials and explain the nature of the Obama administration’s presence at company meetings …
“Back in 2009, as Vice President Joe Biden announced Solyndra’s loan guarantee, he declared that Solyndra’s deal represented ‘exactly what the Recovery Act is all about.’
“Truer words were never spoken.”
Click Here To Read The Full Column: http://politi.co/qkoRdJ
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