$50 Billion in Risky Loan Guarantees
Great article from Taxpayers from Common Sense:
This week, both the House and Senate included increases for the Department of Energy Loan Guarantee program in their stimulus bills, but the Senate took the cake adding more than $50 Billion in budget authority to the program for projects that are unlikely to have any short-term economic benefits. In 2005, Congress created the program, but the program has yet to distribute a single loan guarantee and has come under the scrutiny the Government Accountability Office and the Department’s own Inspector General. Although promulgated as a means to promote innovative energy technologies, it has become a black hole for billions in loan guarantees for the coal and nuclear industries. Read the full story.
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Tags: congress, department of energy loan guarantee, economic stimulus, energy, government accountability office, house, inspector general, senate
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March 14th, 2010 at 8:22 am
WOW!!!!! that was just what i had to know, informative and to the point, please keep up the brilliant work and i will be back for more soon!