Why can’t all hybrid’s look like this?
It’s so cool that it’s costing taxpayers oodles of dollars. It might only cost $100,000 to buy but it cost you, the tax payer, over $500 million in loans. That’s why Senators John Thune and Chuck Grassley have decided to step in.
A pair of Republican lawmakers has asked the U.S. Energy Department for information about a $529 million federal loan to Fisker Automotive Corp. designed to help the troubled automaker develop advanced-technology vehicles…
?There seems to be a troubling pattern developing at the Department of Energy when it comes to providing taxpayer-backed government loans to private companies,? Thune said in a statement. ?Taxpayers have a right to know why their hard-earned money was used in part to back the production of luxury automobiles overseas, especially in a manner that might not have undergone proper review.?…
Fisker Automotive, an Anaheim, Calif., maker of plug-in hybrid electric sports cars, was awarded a $529 million loan by the Obama administration to promote development of advanced-technology vehicles, but the company was prohibited from using more of the loan earlier this year after it experienced sales and production delays for its first car, the $100,000 Fisker Karma. To date, the government has estimated Fisker has drawn down less than $200 million of the loan.
Is there such a thing as crony socialism? Because if there is, the Obama administration fits the bill for it. And for any of you who roll your eyes at the word socialist, then you should at least start admitting that he is in the business of picking winners and losers, and for the most part he picks losers that need to be endlessly propped up by the tax payers.
What a shame to see that something this amazing had to cost tax payers so much money, especially when it is priced way out of the price range of most consumers.
Don’t worry though. Without the Obama administration propping up this company, Justin Bieber’s birthday wouldn’t have been nearly as special.