.....in a recent column in Salon.com, Alyssa Battistoni, tried to reassure us great unwashed crowds out here -- you know, those of us who haven't signed on to the progressive agenda yet --- that we shouldn't worry. One of the paragraphs I found most intriguing was:
"Yes, $534 million is a lot of money, and 1,100 jobs is a lot of jobs, but Solyndra represents just 1.3 percent of the Department of Energy's loan portfolio. America's investment in renewables, and particularly solar, lags behind that of many other G-20 countries as a percentage of GDP. Yet sheer investment isn't enough to ensure a robust renewable sector; it has to be smart investment. And that doesn't mean fussing over individual companies; instead of picking the right companies, we need to pick the right policies. We need to look at what's worked elsewhere, particularly in Germany, which continues to blaze the trail in solar innovation, production and installation."
What do I find so un-reassuring in that paragraph? The first sentence. If Solyndra represents just 1.3 percent of the Department of Energy's loan portfolio ........ that means DOE has a LOAN PORTFOLIO IN EXCESS OF $50.000,000,000 IN SIMILAR LOANS!!
By the way, for those of you who like ole' Pecoz, has gotten blinded by all the zeros in the Obamanation administration (no - not the cabinet and czar zeroes, the budget and debt zeros) that number there is $50 Billion Tax Payer's Bucks being managed by politically appointed bureaucrats that can't get a real job in a real economy!
In these days of Trillions and such, $50 Billion may seem like chump change, but folks if you stack $50 billion one dollar bills on top of your roof, your house will cave in. I sure hope that don't happen at the Department of Energy!
How scary is that... Now if I'm wrong - hit that comment button and tell me!!
(click here to go to Salon.com article)
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