Wow! 80% of DOE 'Green' Loan Money Went to Obama Backers

In Hawaii today, according to an Associated Press dispatch filed by Ben Feller, President Barack Obama is reported to have told supporters that, in Feller's words, "everything they worked for and that the country stands for is on the line in his 2012 re-election bid."

Well, if what those donors have "worked" for is an inside track to government money, and if what the country stands for is crony capitalism, the President is right. The following excerpt from Peter Schweizer's new book, "Throw The All Out," provides the details in just one commercial arena (via The Daily Beast; HTs to Doug Ross, Conservatives4Palin, Victory Chronicles, and Heritage; bolds are mine; extra paragraph breaks added by me):

After he was sworn in as president, he proclaimed that taxpayer money would assuredly not be doled out to political friends. “Decisions about how Recovery Act dollars are spent will be based on the merits,” he said, referring to the American Recovery and Reinvestment Act of 2009. “Let me repeat that: decisions about how recovery money will be spent will be based on the merits. They will not be made as a way of doing favors for lobbyists.”

... an examination of grants and guaranteed loans offered by just one stimulus program run by the Department of Energy, for alternative-energy projects, is stunning. The so-called 1705 Loan Guarantee Program and the 1603 Grant Program channeled billions of dollars to all sorts of energy companies. The grants were earmarked for alternative-fuel and green-power projects, so it would not be a surprise to learn that those industries were led by liberals. Furthermore, these were highly competitive grant and loan programs—not usually a hallmark of cronyism. Often fewer than 10 percent of applicants were deemed worthy.

Read more: [link to newsbusters.org]

Last Edited by CrazyJarhead on 11/14/2011 08:59 PM