August 23, 2019

News

The Obama’s new $14.8 million mansion in Martha’s Vineyard.

Former president Barack Obama and his wife, Michelle, are reportedly in escrow for a $14.85 million mansion on Martha’s Vineyard.

Love it when our past presidents retire in style – makes the U.S. look good.  But, whatever happened to his stance on climate change and how much money do  you need to live?

Barack and Michelle Obama buy new Martha’s Vineyard mansion with the U.S.’s stolen money.  Did this money come from the Solyndra debacle.

Aug 26, 2015 · Solyndra, the solar panel manufacturer who took more than $500 million from President Obama’s stimulus then went bust, sticking taxpayers for the loss, lied to federal officials to secure the loan.  Did anyone go to jail?  Did we get our money back?  Who ended with the money?

It says that “these projects plan to employ more than 60,000 Americans, create additional tens of thousands of indirect jobs, provide enough clean electricity to power three million homes, and save more than 300 million gallons of gasoline a year.” That’s all well and good if everything goes according to plan. But as the Solyndra episode demonstrates, it doesn’t always work out that way.

For one thing, the figures for jobs created are supplied by the companies themselves, but not independently verified by the Department of Energy. Furthermore, it is too early to say whether the government will get all of its loaned money back when all is said and done.

In the case of Solyndra, according to news reports, the company had drawn down all but about $8 million of its total loan allotment at the time that it announced it would file for bankruptcy. It’s not clear that taxpayers will get any of that money back. And while the Solyndra project was responsible for creating 3,000 construction jobs, according to the company, nearly 1,100 people lost their jobs when it announced it was shutting down operations at its solar plant.

Rich man, poor man, beggar man, thief!

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