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Another Failed Obama Energy Company
1/28/12
Stimulus Money: $118.5 million in federal stimulus dollars.
Andrew Restuccia is reporting a story on The Hill that would be hilarious if it didn't impact our great nation.
It turns out that Obama touted an electric car company in his State of the Union speech and it INSTANTLY went bankrupt. This is so indicative of this administration. They are living in a fantasyland where they think all their projects are going well when on the contrary, they are not.
This is what Obama said of the company:
"In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries,"
We are the leader of the world in this respect? Awesome! But then why did the company go bankrupt? How can we go from leader to loser in an instant? Perhaps nobody fact checked the speech, they just threw out nice lines that the public would feed on.
How many of these failed Obama energy company stories do we have to write before the American public wakes up to this sham?
Restuccia believes the House Republicans will investigate this story. " Ener1’s decision to file for bankruptcy will likely draw the attention of House Republicans, who are investigating the bankruptcy of Solyndra, the solar panel maker that received a $535 million Energy Department loan guarantee in 2009. "
The public believes that the economy is rebounding and that the stimulus has created thousands of jobs. But you have to question how good we are really doing when our own president can praise a bankrupt company in his own state of the union. Are we really doing as well as we think we are? I doubt it.
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