This headline in the WSJ just made us sick to our stomachs.
$10 billion!! To one company. Ninety percent of its profits – to the extent there are any – come from taxpayer handouts.
We’d like it much better if the executives at First Solar had to knock on doors with tin cups in hand begging for money. We’d all slam the door in their faces.
No president in American history has passed out more corporate welfare checks than Joe Biden. Not even Obama. By the way: $10 billion is TWENTY times more money than Solyndra received from Uncle Sam. Solyndra’s bankruptcy looks like a bargain today.
Let’s hope First Solar goes bankrupt quickly so we don’t spend decades padding their pockets to produce electric power that is multiple times more expensive than coal or natural gas.