Down the “Green Hole”

All last week, the “green” scandals grew. The one getting the most press had to do with a solar energy company, Solyndra, that obtained a government-backed loan of more than half a billion dollars. The company was such a bad risk that the Bush administration refused the loan. Yet when Obama took over, it suddenly was on the table once more.

To the credit of the government officials who investigated Solyndra, they steadfastly warned the White House not to go ahead with the loan. They predicted the company would probably fail, and the taxpayers would have to eat the failed loan. Stubbornly, Obama and his inner circle dismissed the warnings.

The company went belly-up. The taxpayers are out more than half a billion dollars.

The story isn’t over. Investigations are just now ramping up. The latest accusation is that the administration reworked the loan so that one of Solyndra’s principal investors—also a big donor to Obama—would get reimbursed before any of the ordinary taxpayers. Politics, Chicago style. Corruption, Chicago style. That’s where the president cut his political teeth.

It’s not just Solyndra, however, and it’s not “merely” a half billion that has gone down the “green hole.” Ideological blindness has led this administration to spend $17 billion [so far—another $17 billion promised] for green energy programs. This stimulus was touted as a job creator. Let’s look at the results. That $17 billion created exactly 3,545 jobs, which comes to a princely sum of $4,853,000 per job. Spending nearly $5 million for each job? It’s beyond ridiculous. It truly is scandalous.

Everything President Obama has touched has turned to ashes. I don’t see how any fair observer of events can perceive anything but failure for all his programs. This is a failed presidency. What can he do to redeem himself? Well, if past actions are any indication, he will use this line of reasoning:

The only real question remaining is whether the American voter will allow this pitiful excuse for a presidency to continue.