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Obama: ‘Some of the Businesses We Encourage Will Fail’
CNSNews ^

Posted on 11/01/2012 11:29:18 AM PDT by Sub-Driver

Obama: ‘Some of the Businesses We Encourage Will Fail’ By Matt Cover November 1, 2012

(CNSNews.com) – President Obama told a campaign rally that “some of the businesses we encourage will fail” while talking about his plans for increased green energy subsidies in a possible second term.

“Today there are thousands of workers building long-lasting batteries and wind turbines and solar panels all across the country, jobs that weren’t there four years ago,” Obama said, touting his administration’s efforts to subsidize the green energy industry.

Obama then admitted that not everything the government will “bet on” will be successful, admitting that in fact some of the businesses he plans to give taxpayer funds will be sure to fail.

“And sure, not all of the technologies we bet on will pan out. Some of the businesses we encourage will fail, but I promise you this: there is a future for manufacturing here in America,” he said. “There’s a future for clean energy here in America, and I refuse to cede that future to other countries.”

Obama’s signature green energy subsidy program has been plagued by high-profile failures, most notably of solar-panel manufacturer Solyndra, which received $500 million in government loans and became the face of Obama’s green jobs initiative before going bankrupt in 2010, defaulting on its government loans after administration officials took extraordinary measures to save it, even subordinating those loans to those of private investors, making sure that taxpayers were repaid last.

Normally, government loans are required to be senior to those of private investors, ensuring that taxpayers are first in line to get their money back if the company fails.

Other high-profile green energy failures include Abound Solar, electric car maker Fisker, and the much-hyped electric Chevy Volt....

(Excerpt) Read more at cnsnews.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: bankrupt; boondoggles; democrats; donors; green; obama; porkulus; stimulus
EPIC FAIL........
1 posted on 11/01/2012 11:29:20 AM PDT by Sub-Driver
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To: Sub-Driver

Translation: “Some of the businesses I King Obama choose to allow suckle at the taxpayer teet will fail, because it is I, King Obama who chooses the weiners and losers.”

Typo? What typo?


2 posted on 11/01/2012 11:32:50 AM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: Sub-Driver

STHU!

3 posted on 11/01/2012 11:33:07 AM PDT by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: Sub-Driver

Translation: “Some of the businesses I King Obama choose to allow to suckle at the taxpayer teet will fail, because it is I, King Obama who chooses the weiners and losers.”

Typo? What typo?


4 posted on 11/01/2012 11:33:07 AM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: Sub-Driver

“President Obama told a campaign rally that “some of the businesses we encourage will fail” while talking about his plans for increased green energy subsidies in a possible second term.”

I thought he didn’t want to return to the failed policies of the past four years? Ohhhhhhh...he must have meant Bush.


5 posted on 11/01/2012 11:33:19 AM PDT by jessduntno ("Socialism only works...in Heaven where they don't need it and hell where they have it." - RR)
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To: Sub-Driver
Yo Barry!

Gamble with your own damn money!!

6 posted on 11/01/2012 11:34:35 AM PDT by TexasCajun
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To: Sub-Driver

Meaning, the money we steal and give to who we feel deserves it, will fail. It’s designed that way to line the pockets of their cronies. It is crminal.


7 posted on 11/01/2012 11:34:42 AM PDT by vpintheak (Occupy your Brain!)
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To: All


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8 posted on 11/01/2012 11:35:46 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Sub-Driver; All

Complete List of President Obama’s Taxpayer-Backed Green Energy Failures (as of Thursday, October 18th, 2012)

Evergreen Solar ($24 million)*

SpectraWatt ($500,000)*

Solyndra ($535 million)*

Beacon Power ($69 million)*

AES’s subsidiary Eastern Energy ($17.1 million)

Nevada Geothermal ($98.5 million)

SunPower ($1.5 billion)

First Solar ($1.46 billion)

Babcock and Brown ($178 million)

EnerDel’s subsidiary Ener1 ($118.5 million)*

Amonix ($5.9 million)

National Renewable Energy Lab ($200 million)

Fisker Automotive ($528 million)

Abound Solar ($374 million)*

A123 Systems ($279 million)*

Willard and Kelsey Solar Group ($6 million)

Johnson Controls ($299 million)

Schneider Electric ($86 million)

Brightsource ($1.6 billion)

ECOtality ($126.2 million)

Raser Technologies ($33 million)*

Energy Conversion Devices ($13.3 million)*

Mountain Plaza, Inc. ($2 million)*

Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*

Range Fuels ($80 million)*

Thompson River Power ($6.4 million)*

Stirling Energy Systems ($7 million)*

LSP Energy ($2.1 billion)*

UniSolar ($100 million)*

Azure Dynamics ($120 million)*

GreenVolts ($500,000)

Vestas ($50 million)

LG Chem’s subsidiary Compact Power ($150 million)

Nordic Windpower ($16 million)*

Navistar ($10 million)

Satcon ($3 million)*


9 posted on 11/01/2012 11:37:07 AM PDT by stephenjohnbanker ((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
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To: Sub-Driver

>> “Today there are thousands of workers building long-lasting batteries and wind turbines and solar panels all across the country, jobs that weren’t there four years ago,”

Name 3, and state how many jobs have been created by each, at what cost to the taxpayer.

Hell... name ONE. Just ONE.

(He won’t, ‘cause he can’t be sure the one he names won’t go belly up before Tuesday!)


10 posted on 11/01/2012 11:37:21 AM PDT by Nervous Tick ("You can ignore reality, but you can't ignore the consequences of ignoring reality.")
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To: onyx

11 posted on 11/01/2012 11:37:27 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: subterfuge

Typo

‘All of the Businesses We Encourage Will Fail’

Fixed it


12 posted on 11/01/2012 11:38:01 AM PDT by barmag25
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To: musicman

BFLR


13 posted on 11/01/2012 11:38:54 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Sub-Driver

“Obama then admitted that not everything the government will “bet on” will be successful...”

That be the 127678th amendment where the government is supposed to able to bet on stuff.


14 posted on 11/01/2012 11:40:41 AM PDT by VanDeKoik
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To: Sub-Driver

Still did not own up to his failure, I see.


15 posted on 11/01/2012 11:46:56 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: stephenjohnbanker

Nice work.

Would be nice to have a *running* total of all that added up, at either the beginning or the end of the list.


16 posted on 11/01/2012 11:52:24 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: Sub-Driver

GREEN SCAM: 80% Of Green Energy Loans Went To Obama Donors - 19 Companies Went Bust

http://www.freerepublic.com/focus/f-news/2906481/posts


17 posted on 11/01/2012 11:59:40 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Sir Napsalot

I’ll do it.

The numbers clime every day.


18 posted on 11/01/2012 12:00:03 PM PDT by stephenjohnbanker ((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
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To: Sub-Driver
Correction: Every green industry Obama has championed has either gone out of business after milking taxpayers for billions or they are on their last gasps before they go bankrupt. That's more than just “some”.
19 posted on 11/01/2012 12:20:17 PM PDT by MasterGunner01
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To: Sub-Driver

No you buggery pirate... ALL OF YOUR BUSINESSES ARE FAILING OR HAVE FAILED... PUNK!

LLS


20 posted on 11/01/2012 12:20:56 PM PDT by LibLieSlayer (OUR GOVERNMENT AND PRESS ARE NO LONGER TRUSTWORTHY OR DESERVING OF RESPECT!)
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To: Sub-Driver

Yea!Some Businesses may fail,but 100% of them?It seems like every business that received taxpayers dollars went bust.

There is a definite need for a criminal investigation for fraud here.Obama’s prints are all over it.


21 posted on 11/01/2012 12:37:08 PM PDT by puppypusher (The World is going to the dogs.)
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To: Sir Napsalot

The 2009 stimulus set aside $80 billion to subsidize politically preferred energy projects. Since that time, 1,900 investigations have been opened to look into stimulus waste, fraud, and abuse (although not all are linked to the green-energy funds), and nearly 600 convictions have been made. Of that $80 billion in clean energy loans, grants, and tax credits, at least 10 percent has gone to companies that have since either gone bankrupt or are circling the drain.

http://www.theyeshivaworld.com/news/General+News/141778/Complete-List-of-President-Obama’s-Taxpayer-Backed-Green-Energy-Failures.html


22 posted on 11/01/2012 12:38:55 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: TurboZamboni

See?!

Obama already had a built-in fall guy, “Biden was in charge” of the Stimulus book.


23 posted on 11/01/2012 12:42:39 PM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: Sub-Driver

Obama then admitted that not everything the government will “bet on” will be successful...

Oh good God! What a colossal failure! Is that what government is for?...betting taxpayers money? This jackass must go!!! Remember to vote!


24 posted on 11/01/2012 1:08:36 PM PDT by AngelesCrestHighway
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To: Sir Napsalot

Sir Napsalot~: “ See?! Obama already had a built-in fall guy, “Biden was in charge” of the Stimulus book. “

Biden under the bus ?
Whoda thunk ?


25 posted on 11/01/2012 1:33:07 PM PDT by Tilted Irish Kilt (Bapak O6ama : Russian for the "STAND DOWN PRESIDENT" ~ (DA ! Wait until I can be more flexible !)
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To: Sir Napsalot

Biden : Just another ‘pretty face’ to hope and despair ?


26 posted on 11/01/2012 1:34:54 PM PDT by Tilted Irish Kilt (Bapak O6ama : Russian for the "STAND DOWN PRESIDENT" ~ (DA ! Wait until I can be more flexible !)
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To: Sub-Driver

Third debate, Boca Raton, right after Romney stated to Obama, “Attacking me is not ... an agenda,” on the subject of the GM/Chrysler bail-out, then on to the topic of (”Some of the business ...” translated): “All of my cronies we throw money to will fail”:

PRESIDENT OBAMA: Governor, the people in Detroit don’t forget.

MR. ROMNEY: And — and that’s I have the kind of commitment to make sure that our industries in this country can compete and be successful. We in this country can compete successfully with anyone in the world. And we’re going to. We’re going to have to have a president, however, that doesn’t think that somehow the government investing in — in car companies like Tesla and — and Fisker, making electric battery cars — this is not research, Mr. President. These are the government investing in companies, investing in Solyndra. This is a company. This isn’t basic research. I — I want to invest in research. Research is great. Providing funding to universities and think tanks — great. But investing in companies? Absolutely not. That’s the wrong way to go.

PRESIDENT OBAMA: Governor, the fact of the matter is —

MR. ROMNEY: I’m still speaking.

PRESIDENT OBAMA: Well — (chuckles) —

MR. ROMNEY: So I want to make sure that we make — we make America more competitive —

PRESIDENT OBAMA: Yeah.

MR. ROMNEY: — and that we do those things that make America the most attractive place in the world for entrepreneurs, innovators, businesses to grow. But your investing in companies doesn’t do that. In fact it makes it less likely for them to come here —

PRESIDENT OBAMA: All right, Governor —

MR. ROMNEY: — because the private sector’s not going to invest in a — in a — in a solar company if —

PRESIDENT OBAMA: I’m happy — I’m — I’m — I’m happy to respond —

MR. ROMNEY: — if you’re investing government money and someone else’s.

PRESIDENT OBAMA: You’ve held the floor for a while. The — look, I think anybody out there can check the record. Governor Romney, you keep on trying to, you know, airbrush history here.

You were very clear that you would not provide government assistance to the U.S. auto companies even if they went through bankruptcy. You said that they could get it in the private marketplace. That wasn’t true. They would have gone through a —

MR. ROMNEY: You’re wrong. You’re wrong, Mr. President.

PRESIDENT OBAMA: I — no, I am not wrong.

MR. ROMNEY: You’re wrong.

PRESIDENT OBAMA: I am not wrong. And —

MR. ROMNEY: People can look it up. You’re right.

PRESIDENT OBAMA: People will look it up.

MR. ROMNEY: Good.

Weren’t some of the Fiskers cars blowing up yesterday? That’s really unfortunate.


27 posted on 11/01/2012 2:00:54 PM PDT by tumblindice (America's founding fathers: all armed conservatives)
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To: Sub-Driver

The only lie I see in his statement is that some will fail. If there isn’t a market to support them, and the govt $$$ trough runs dry, they ALL will fail!

It is a fact that if there isn’t a market that exists, when the govt support runs dry, they will close the hell up, and the CEO aka Obama bundlers will pack up a couple of suitcases of stolen cash, and wait for the next green venture.


28 posted on 11/01/2012 3:01:39 PM PDT by nobamanomore
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