Symptom of the Disease: Solyndra “spending money left and right”

When – over a period of decades – we allow the federal government to get intimately involved with contracts and government-backed loans for companies like Solyndra in an effort to push worn political and environmental agendas, we’ve got nobody to blame but ourselves.

We’re letting this happen as we quietly – or in some cases loudly – encouraged the federal government to do something. You gave them the power. You stood idly by when the federal government funded a fire truck for your local department, subsidized local airports, funded new police officers for your community and helped fund your local schools. All with strings attached.

The founding fathers and those of you who are conservative know that the only way to fund these types of programs – if they should be funded at all – is at the local or state level. The federal government’s authority is limited in Article 1, Section 8 for a reason, and this is it. You want to fund these programs? That’s fine, do it at the state level.

But many think the federal government is some sort of cash machine that provides gifts from afar, that are all free. It’s time to grow up. Actually, that time passed long ago. There is no free lunch, breakfast or dinner.

These do something now policies lead to disasters like Solyndra, who was provided more than $500 million in guaranteed federal loans all-the-while tied exclusively to the “green jobs” political agenda of our president.

This too, is a symptom of the disease.

An update from the Washington Post, with a hat tip to Ed Morrissey at Hot Air.

“After we got the loan guarantee, they were just spending money left and right,” said former Solyndra engineer Lindsey Eastburn. “Because we were doing well, nobody cared. Because of that infusion of money, it made people sloppy.”

Solyndra’s ability to secure federal backing also made the company eager for more assistance, interviews and records show. Company executives ramped up their Washington lobbying efforts, hiring a former Senate aide to work with the White House and the Energy Department. Within a week of getting a loan guarantee commitment from the Energy Department, Solyndra applied for another, worth$400 million. It never won final approval.

What is it they say about small favors?

Morrissey notes…

What incentive did Solyndra management have to spend responsibly, with a $535 million government-backed loan in their pockets and a president touting the company as the star of the administration’s efforts to prop up the weak green energy industry?

Experiment time. Give a one-hundred dollar bill to 10 teenagers. Don’t tell them where the money came from, just let them know it was provided by someone they do not know and that person is not interested in how the money is spent. Watch what happens to the cash.

Do the same with 10 others and let them know the money came from mom, dad or a grandparent. In return, let them know the benefactor simply wants to know what was done with the money. What will be the difference?

As a side note, the market opened about 20 minutes ago and is currently down about 340 points.

11 replies
  1. Dimsdale
    Dimsdale says:

    Solyndra likely believed that the federal aid gravy train would continue forever, or until they could secure manufacturing in China, or just buy Chinese solar panels…..

  2. NH-Jim
    NH-Jim says:

    “with a $535 million government-backed loan in their pockets and a president touting the company as the star of the administration?s efforts…”
    Let’s remember, this was a guaranteed or forgivable loan with OUR money.
    Why is there not a protest on the front lawns of the Solyndra executives homes, terrifying their 16-year-olds?? Hmmm-hmmmm?? Hey, union thugs?? This is no different than the AIG bonuses paid to exec’s.? Where are you, Connecticut Working Families?? You stinking hypocrites!


    Time for torches and pitchforks, folks!

  3. Plainvillian
    Plainvillian says:

    You may think it a stretch, but local airports are a vital part of a national transportation system and expedite commerce.? As such, the argument can be made that airports must adhere to national standards and design criteria and therefore require Federal administration.? Airport funding comes from fuel taxes and taxes on each passenger’s ticket.
    Clearly, police, fire, and education decisions and financing should be locally controlled and funded but the tentacles of Federal control have been with us for a long time.? The agriculture Department has been involved in school lunch programs for over 60 years and like ethanol, the program bought votes in the big farm states and calories to the masses.?
    Exit question:? Did we have childhood obesity problems before the Federal school lunch subsidy?

  4. SeeingRed
    SeeingRed says:

    I just want to see?a reconciliation for the $535 million.? Even one done on a napkin.? How much of it made it back to the Billionaire benefactor/cash bundler (bungler)?? Did he come out whole?? Did any end up going into a DNC coffer of any type?? Inquiring minds want to know.

    It amuses me that they applied for another $400 million within a week of getting thier hands on half a Bill.?

  5. phil
    phil says:

    It used to be, ‘Build a better mousetrap and the world will beat a path to your door.’? Wha’ hoppen?? Now the gummint paves a path to a door, with gold bricks, no less, and promises (wink, wink, nod, nod) a better mousetrap within.? A mousetrap that doesn’t work, and if it did work, we couldn’t afford it.? Nice path, though.? Uh-oh, where’d the path go?

  6. Murphy
    Murphy says:

    I’ve said it before and I’ll say it again. Federal Government Grants (and loans) that do not directly impact interstate commerce or National Security (directly) are and should be treated as ILLEGAL!

  7. Erik Blazynski
    Erik Blazynski says:

    It is actually not easy for a small business to spend $535 million, if they bought some land or a building that may cost 50 million.. 10% of the gift.. That is an astronomical amount of money to blow.

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