Biden plans to spend trillions of taxpayer dollars on ‘green’ energy investments

President Joe Biden and Democrats in Congress have set their sights on crafting a massive spending package billed as investments in the nation’s infrastructure, with a focus on “green” projects to combat climate change.

Unfortunately, American taxpayers have seen prior spending “investments” in green energy technologies be wasted in recent years as many of the purportedly climate-friendly recipients of government funds have gone bankrupt in spite of the infusion of taxpayer money, The Daily Wire reported.

“Green” energy investment failures

Biden even had a hand in those previous wastes of money, as the then-vice president had been tapped to oversee the distribution of funds in the $787 billion American Recovery and Reinvestment Act that was, until the COVID pandemic, the largest spending measure ever put forward by Congress.

Promoted as a means to help rescue the nation from the Great Recession of 2009, that massive stimulus bill disbursed billions of taxpayer dollars to numerous “green” energy companies by way of government-backed grants and loans.

Solyndra, a solar power company that received $535 million in guaranteed loans, went bankrupt less than two years later. There was also electric automaker Fisker, and an affiliated battery company, that received $529 million and $279 million in loans, respectively, before going bankrupt within a few years of receiving those taxpayer dollars.

Biden plans to “go even bigger”

Hundreds of millions, if not billions, of loaned taxpayer money simply evaporated in those failed investments in dozens of companies. Rather than learn from that mistake of attempting to pick winners and losers in a fluid market economy, it appears Biden is prepared to double down and do the same thing again.

Such was the takeaway from a New York Times report which asserted that the lesson learned by Biden from those past failures was to “go even bigger” this time around.

The report laid out how Biden is making “green” and “clean” energy investment the “centerpiece of his proposal for trillions of dollars, not billions, on government grants, loans, and tax incentives to spark renewable power, energy efficiency and electric car production.”

The Biden administration and its allies in Congress, in response to critics who point to prior failures, argue that “this time things will be different,” because not enough money was used last time and because of the increased demand for green energy.

Package price tag continues to grow

Getting Biden’s plan passed through Congress will be no easy task, however, particularly as the scope of the “infrastructure” bill expands well beyond actual infrastructure, and as the overall price tag for the proposal continues to swell, according to The Washington Post.

The Biden administration’s initial proposal was about $3 trillion in spending with around $1 trillion in new taxes, but concerns about increasing the federal deficit and national debt with more borrowing, as well as the continual addition of new spending proposals, have ballooned into a package that includes upwards of $4 trillion in additional spending and more than $3 trillion in new tax revenues.

Given the inefficiency of federal spending and market interventions, as well as Biden’s own dismal track record in attempting to pick winners and losers with taxpayer funds, this “infrastructure” package will almost certainly become the latest expensive boondoggle that will do much more harm than good.

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20 Responses

      1. FOR SURE ON THAT ONE THE BUGGER WILL HOPEFULLY 3 YEAR AND 9 MONTHS SO WE DON’T HAVE HEELS UP HARRIS RUNNING THE NATION INTO THE GROUND. WITH THE QUEEN OF HATE AND FLSE TEETH NANCY.

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  2. There are two new ways to spell stupid – One is “Biden” and the other is “Democrat Politicians”. If you are a Democrat voter, you need to get mental help.

  3. I pray the lord opens the earth and swallows biden harris his administration the democrats and rhinos in congress the rich the lying media and every doctor that perform abortions and any other person that thinks that they are above the law. The supreme court too. Let him open the earth swallow them and take them to hell.

  4. The Democrats have reached a new level of low. 2% below plant life. Biden is special, he’s brain dead.

  5. You’d have to be blind not to see that Democrats spend so much tax money because 90% of their bills get skimmed under the table to good party members. That’s why their bills don’t work so well: not enough cash left after the skimming. It is also why half the country’s populace is Democrat: party sanctified corruption is close enough to government approved corruption so that all the wobbly spines out there feel safe in taking the dirty money from the bloated bills.

  6. Biden’s plan is to destroy America before the people realize what he’s trying to do. And Kamala and crazy Pelosi are there to back up his plan. America must find a way to stop their plan ASAP before all is lost. In the end the people of America are going to have to remove all the enemies within our government themselves and in person . We can’t let this brain damaged man take everything away from we the people .

  7. only mother nature has control over the weather. say prayers that nanci & georgie , will get a gift from the Good Lord; to put them out of their misery, a fatal heart siezure. The world would give it a standing ovation.

  8. What everybody don’t realize is that, ALL those company that received ALL THOSE BILLIONS FROM OBAMA TO IMPROVE THE AIR WAS JUST A SCAM TO ROBE TAX PAYERS. THEY GAVE THAT MONEY TO PEOPLE THEY NEW, A YEAR OR SO LATER THEY WENT BANKRUP AND GAVE BACK TO OBAMA, BIDEN. PELOSI, SCHUMER AND KILLARY 20% OF THAT MONEY!
    HOW DO YOU THINK THEY ARE BECOMING MILLIONARIES?

  9. Ignorance, it is the reason of overspending. Sadly, there wasn’t ever good economists, that could shift USA economy providing financial balance.
    Going green, make sense, only there shall be gradually taken into consideration our real ability of investments and revenue.
    Some of you may remember IL Secretary of State Jim Edgar, highly respected economist that truly knew how to balance budget, and restrain dirty spetite of the greedy union workers, by proving to them, that our budget got limits, and money shall be tailored wisely.
    Of course, lately we observe trend of green technologies to be on rise, and doing so this shall first improve purity of our sir, water, food free of poisonous conservancy’s, etc. Effect would be seen on a wide scale, where in general cancer rate shall drop, some other diseases that are killing us, and such concern is welcomed.
    Perhaps some greedy politicians took multiple bribed to keep on standard poluting fuels, even not allowing new technology, like hydrogen, wind, solar, and others that the modern engineering is offering to be used at wide scale.
    Shall we get scared of that? Of course not. Only politically divisive politicians oppose stagnant, brainless technologies, infrastructures. However many businessmen humbly are doing some industrial modernizations.
    If we need to move on, not remain the most dumb nation in the world, USA first need to change policy of not allowing idiots into Government, since stupid is and stupid firs… We need proven industrial engineering, technology experts to get involved and job be done, of course reasonably fast, not turn our economy out of the orbit. And since instead of healthy politics there was wasting time of our idiotic politicians being in charge, those filthy rich, corrupted skunks playing role of high importance try to criticize anyone, that try cleanup dung of their stupidity!
    Try to be reasonable, there was clean technology, that moved rackets to the orbit, so the same technology can be applied, such that ozone layers could be restored, and our people, all of us around the globe may be able to enjoy better, higher quality life!
    Don’t get scared of positive change, there is great intellectual property of the excellent people, that are able transfer us into wiser technologies, cutting off polutance, such allowing longevity, good health, joy, friendship, instead of corrupted political dogfights!

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