Another green energy company fails, leaving taxpayers on the hook for $42 million

  It  has been awhile (almost one year) since America’s Watchtower has covered the scam known as Barack Obama’s green energy initiative but that does not mean it has gone away, it has simply been eclipsed by various other scandals.

  For those who have either forgotten or were not aware, as part of the stimulus  plan the Federal Government was handing out millions upon millions of dollars in loans to companies under the Obama regime’s green energy initiative. It just so happened that these companies had ties to Democrat operatives, and most have since either filed for bankruptcy or are just barely hanging on. The list is extensive: to date we have A123, Solar Trust, SoloPower, Enir1, BrightSource, Abengoa, SunPower, LightSquared, Tesla, Fisker, and Beacon Power all receiving stimulus loans which will never be recovered by the taxpayer who footed the bill for these failed companies.

  But this is the gift that keeps on giving and today we are learning about the latest green energy initiative failure.

The Energy Department conceded Friday that the federal government will lose $42 million on a loan to a shuttered Michigan van manufacturer — part of the same program that provided a $529 million loan to an electric car maker that also has gone under.

Vehicle Production Group (VPG), which made vans for the disabled, ceased operations in February and laid off 100 workers, two years after receiving a $50 million federal loan under the same clean-energy program that provided a $529 million loan to electric car maker Fisker Automotive Inc., according to the Associated Press.

  Don’t you just love how the article states the Federal Government will lose this money? Where does the Federal Government get its money? Rhetorical question.

  Barack Obama used the stimulus program and the green energy initiative to both funnel money to Democrat operatives and to push his radical ideology and now we are all paying the price for his ill-fated policies–literally.