You are already on the hook for $528 million as a result of the Solyndra bankruptcy. But, to add insult to injury, you will now have to dig deeper into your pocket to cover an additional $14.3 million. The original $528 million was courtesy of the Department of Energy. Last week, the Department of Labor decided to spend an additional $14.3 “fixing” the problem created by the DOE. Here is how this works.
As a condition to voting for the trade agreements with South Korea, Columbia and Panama, democrats in Congress, as well as the President demanded that we throw money at the Trade Adjustment Assistance program run by the DOL. The theory is that by allowing other countries to sell more products in this country, Americans will lose jobs. I know, that is completely faulty logic as, among other things, the agreements also allow American companies to sell more of their products overseas, thus, boosting employment. But, we will leave that for another day.
Given their new found money, the DOL has decided that all employees of Solyndra who have lost their jobs due to the bankruptcy, really lost their jobs because China exported solar panels to the United States…i.e., lost their jobs because of foreign imports.
Each of the approximately 1100 Solyndra employees who lost their job is now entitled to approximately $13,000 in taxpayer aid.
The TAA program offers help to domestic workers who have lost their jobs due to the trade practices of foreign countries. The assistance includes job retraining, allowances for job searching, health benefits and up to 130 weeks of income support. The average recipient gets about $13,000 in assistance. [emphasis supplied]
Parenthetically, don’t you just love the way the government creates the problem, by spending your money, and then decides to solve said created problem by…spending more of your money?
I could be wrong now, but, it seems to me it would have been far cheaper had we just “cut out the middleman”, aka, Solyndra, and given these people TAA assistance from the get go.