It seems as though President Obama can’t stay out of trouble these days. He is blamed for the recession, loss of jobs, housing crisis, war and pretty much anything wrong with our country. Now he is in hot water again over the Solyndra bankruptcy scandal.
Originally the White House bragged that the company was on the leading edge of its green jobs program, but new details emerged this week regarding its $527 million in federal loan guarantees. It was reported that additional tax payer money in the tune of $75 million was used to bail out the struggling company, even when White House officials knew they were in financial trouble.
Although huge tax payer money was poured into the company, Solyndra declared bankruptcy Aug. 31, 2011. This essentially put 1,100 out of work and potentially will leave taxpayers on the hook for the $527 million in funds released by the White House. Where did the money go?
We all know the “green programs” are dear to many politicians hearts, including the President, but that money could have been used to bail out the many homeowners now losing their homes. When will politicians learn how to better manage tax payer dollars? Why can’t we vote on where our hard-earned tax dollars go?