Obama’s Loans for ‘Start-Ups’
It should be enough that President Obama’s nose is currently the length of a White House flagpole.
But just to put to rest any question that Obama is fibbing about DOE’s green loan programs being for startups, Ford and Nissan — two of the biggest corporations walking the earth — were among the first to receive taxpayer loans.
Ford got $5.9 million from DOE’s Section 136 program (established in 2007, Solyndra received money from the 2009 Section 1705 program) to retool its Chicago plant to build the Ford Explorer — one of the most established vehicle brands in the industry (in fact, Obama himself visited the plant to celebrate Ford’s new taxpayer-funded line) — and Nissan pocketed $1.6 billion (that’s billion with a “b”) to build its electric Nissan Leaf in Smyrna, Tenn.
Want more “startups” who sought taxpayer benevolence?
General Motors wanted $14.4 billion from DOE to build greener cars but withdrew its request — not because the loan was in jeopardy, but because GM decided it was bad PR. And Chrysler’s $3 billion loan is in jeopardy because those meanie Republicans wonder why taxpayers should be on the hook for even more Chrysler welfare.