“This losing tax-subsidized venture joins other past losers like the Obama-subsidized Volt that gets 40 miles per battery charge, or like the Obama-subsidized Tesla that turns into a ‘brick’ when the battery completely discharges and then costs $40,000 to repair,” Palin wrote.
“This is really just the latest manifestation of the administration’s crony capitalism as their green energy buddies benefit from this atrocious waste of taxpayer money. Americans really need to get outraged by these wasteful ventures. As we’ve seen time and time again, We the People are always stuck subsidizing the left’s ‘losers.’”
Like Fisker, Tesla Motors received a $465 million loan from the Department of Energy. The automaker plans to repay the loan five years early due to the expected success of its all-electric Model S Sedan. The car was unanimously voted Motor Trend’s Car of the Year in 2012.
Republicans have frequently attacked the Energy Department’s clean-energy loan program following the bankruptcy of Solyndra, a solar cell manufacture that received a $535 million loan from the agency. An independent review of the program by a former Bush Administration official found the risk to taxpayers was much less than planned for.
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010,
and is based out of Sacramento, California. He grew up in the suburbs
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