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Posted on 05/08/2025 5:54:47 AM PDT by karpov
It’s no secret Joe Biden’s team spent its final days shoveling money out the door, and in ways designed to limit Donald Trump’s ability to claw it back. Officials working under Department of Energy Secretary Chris Wright have now completed a review of the Loan Programs Office (LPO)—the government entity that brought you Solyndra— and the extent of the shenanigans is remarkable.
Figures and documents provided to me show a loan free-for-all: More than $90 billion showered on entities in a matter of months, a lot of it to companies of questionable taxpayer value. The highlights of DOE’s review:
Unprecedented sums: LPO was created in 2005 under George W. Bush, though it was ramped up by Barack Obama’s 2009 “stimulus” package (which funded Solyndra, Abound Solar and other failures). Biden built on that history, earmarking hundreds of billions from his Covid-era spending packages for green-energy loans. After Kamala Harris lost the election, LPO went in overdrive. From 2009 to the final quarter of 2024, LPO had obligated some $42 billion in loans. From Election Day 2024 through Inauguration Day 2025, LPO closed on $53 billion in loans and made an additional $40 billion in commitments—or more than double what it has spent over the prior 15 years. Mission gallop: LPO was created to increase energy security, with investments in big technologies that would otherwise struggle to attract private capital (think nuclear), because of the longer time necessary to generate returns.
(Excerpt) Read more at wsj.com ...
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Joe and Jill will be on The View today.
Ask for unspent money back
Ask for unspent money back
Democrats aka DEMONCRATS
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