The Congressional Budget Office (CBO) just released its latest concocted quarterly estimate on President Obama’s failed stimulus. CBO’s findings are as preposterous as its 11 previous studies of the stimulus, discussed here, here, and here. The story doesn’t change, because CBO’s faulty analysis doesn’t change. Each time CBO does an …
A stimulus program designed to create jobs by funding rural utility projects has created only about 12% of the jobs projected at the outset of the program in a sample of towns recently examined by the Agriculture Department’s Inspector General. The IG examined 22 local utilities and government agencies to receive …
A123, the U.S. manufacturer of green-tech batteries that received millions in government aid, today announced a “memorandum of understanding” between it and Chinese auto giant Wanxiang. It totals up to $450 million in a bailout of debt purchasing and other cash infusions that would grant Wanxiang 80 percent controlling interest …
Abound Solar’s June bankruptcy could leave the residents of Weld County, CO, on the hook if court proceedings do not deliver the projected business personal property tax receipts anticipated before the company’s demise. The Greeley Tribune reports: Abound owes more than $950,000 in property taxes this year and will owe …
A new book out later this month paints a vastly different picture of President Obama’s economic stimulus than the one he sold to the American people upon taking office in 2009. Time senior correspondent Mike Grunwald, a self-proclaimed “Recovery Act cheerleader,” argues in “The NEW New Deal: The Hidden Story of Change in …
Proponents of taxpayer support for green energy are touting a new study claiming that tax credits for solar companies will pay for themselves over the long run. The problem: the study, conducted by the U.S. Partnership for Renewable Energy Finance, assumes that solar companies that enjoy the tax breaks in …
The Energy Department can’t figure out how hundreds of thousands of dollars in “green energy” stimulus money earmarked for manufacturing equipment was spent, according to a new report from the agency’s Inspector General. DOE’s IG stated in a July 2012 audit report that $500,000 of equipment bought with stimulus money to …
The Agriculture Department’s Rural Housing Service likely loaned hundreds of millions of dollars to ineligible borrowers as part of President Obama’s stimulus package, a report by federal watchdogs has revealed. The stimulus earmarked more than $1 billion for RHS home loans in rural communities. According to the Ag Department’s Inspector …
Another stimulus-backed green energy company has filed for bankruptcy, further fueling criticism of Energy Department programs that backed highly-risky investments on the taxpayer dime. Like Solyndra and a number of other green energy investments made under this administration, Abound Solar had a very poor credit rating, but enjoyed a wealth …
