This morning (Oct. 16) battery builder, A123 Systems, announced it was filing for bankruptcy.
This company was another of Obama’s “pets,” having received $249 million in federal grants.
In 2010 Obama hailed A123, “with plans to create 2,000 new jobs in Michigan. The company failed miserably, having lost nearly $900 million in recent years.
A123 couldn’t even sell batteries to Obama Motors (formerly General Motors) for their Chevy Volt. The Volt is powered by batteries made in Korea.
Within an hour of this story hitting the Internet this morning, the White House “scrubbed” the story. It’s not on the Internet anymore.
Must be an election or something else going on this year.
More change we can do without.
Ryan’s policy flawed
As I see it neither Mr. Romney nor Congressman Ryan have hooves, horns, nor tails. They are Americans who probably care for the country.
However, others do. President Hoover was the smartest Republican president ever, some say the smartest president ever. I believe that there were a couple that were smarter. However, for all his great intelligence he led the country into the Great Depression in just over a year after receiving the country with with a record economy. After that safeguards were put in place to prevent a recurrence these eroded over time as being unnecessary and hindering business. The removal led to a boom time followed by the Great Recession when the same policy’s that were in effect under President Hoover were in effect. These policies, if left in effect, would have created another Great Depression with unemployment over 25 percent. The changes that were enacted kept this from happening. However, the new regulations and the stimulus were too timid and met with so much resistance that they didn’t accomplish nearly what they could have. They turned the corner after a long period and the country is going forward. Congressman Ryan is pushing a plan that redoubles the policies that got us into the problem. And, likely with the soft economy, would return us to a recession very quickly.
I heard Congressman Ryan say that required reading for his staff was the works of an author that is better known for her atheism than his economic expertise.