Romney at Solyndra

Romney makes surprise visit to Solyndra after the solar energy company went bankrupt less than two years after receiving a $535 million loan in 2009 from the Department of Energy--reminding us of another Obama failure.

Obama and His Costly "Green" initiatives

"Typical Obama blaming others for things that happen because of his policies and which rewarded his millionaire/billionaire campaign bundlers. Obama's DOE approved the loan. Obama's bundlers lobbied for the loan. Obama's bundlers received $535 million and went bankrupt. Obama continues to prove he is the most well documented liar in US history."

Read more: Obama Now Blames Congress For His Solyndra Fiasco That His Bundlers Fought For and DOE Approved.

A company awarded $126.2 million in stimulus taxpayer funds from the U. S. Department of Energy is under investigation for insider trading according to a federal subpoena obtained by CBS News. Read about more corruption in a company given Obama stimulus.

US taxpayers just keep holding the bag

We in Lake Worth are not alone when it comes to holding the bag. Stupid decisions come from our leaders in Washington that have put every man, woman and child in jeopardy and they just keep on spending. It used to be millions. Now it is always billions with our national debt at $14.7 trillion. As the national debt grows every second, no one can give us accurate figures as to what we each owe individually but it is over $47,185 per person. This debt all gets passed on to our children and grandchildren. In just one decade, we no longer are the leader of the free world and we are ridden with debt.

Those of us who live here in Lake Worth wonder what in the heck our leaders are doing as money continues to disappear. Cash reserves are transferred here and there with no accountability. Money allocated for specific projects are raided and used elsewhere. The City Manager might warm up like a solar panel to an internal auditor if his independence was diminished as we continue to insist that the City honor its Charter.

Knowing that we are in a financial crisis particularly since our leaders have blown ALL OF OUR CASH RESERVES, Lake Worth's solution is to tax more and get really creative by special assessments instead of stopping all capital projects that are not a necessity. The Utility is and will be the Black Hole until we get a forensic auditor. In the case of the Utility, it would have to be a team of forensics.

It reminds me of Tennesse Ernie Ford who lived in Bristol, Tennessee where I lived at one time and his song, Sixteen Tons..."You load sixteen tons, what do you get? Another day older and deeper in debt ...I owe my soul to the company store." People are working harder than ever to keep up and our government is not cooperating.

On September 1, we first reported on Solyndra, another total disastrous decision by Obama. Judicial Watch says the Solyndra Scandal Hits Obama White House.

"Two weeks ago, alternative energy company Solyndra, which received $535 million in “stimulus” loan guarantees from the Obama administration, collapsed. Solyndra was the poster child for the Obama administration’s claim that it could create green jobs with taxpayer money. Now 1,100 more people are out of work and American taxpayers are on the hook for half a billion dollars.

But while this ought to be an abject embarrassment for the dirigistes in the Obama administration, there’s a much bigger story behind the Solyndra scandal. It involves a concerted effort by White House officials to improperly rush the Solyndra loan decision for political reasons.

The Washington Post had the exclusive story--Click here."

The Sunshine no longer shines on Solar Company

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The third solar company to fail in the past month, Solyndra, a manufacturing company of solar modules with 1,100 employees, filed bankruptcy today and has closed its doors. It had two plants in California and one in Switzerland. I guess they were using the Stimulus to create jobs overseas.

Not only taking $500,000,000 from Obama's Stimulus, only six months ago it closed on a $75 million secured loan underwritten by existing investors. The proceeds from the financing were to be used to support Solyndra’s working capital requirements, accelerate the Company’s ongoing cost reduction activities and execute its expanded channel and segment sales and marketing strategy.

This is just another example of how the public gets screwed and another failed Obama initiative.