As reported in the Wall Street Journal, President Obama has “invested” over a billion dollars in American companies to make advanced batteries for electric vehicles even though they’re a bust.
Every time Obama “invests,” he’s taxing us. Since we are short more than 40 cents out on every dollar we spend, the money is borrowed or printed.
Obama’s venture with our money will fall very far short of his goal. He said that in six years we would see the production of one million electric or plug-in hybrid vehicles. We are barely at 50,000 vehicles and less than a third of the promised jobs halfway through.
The Obama administration is now “investing” another $120 million in an electric car battery research center. Yea!