Democrats and their progressive allies claim to be champions of both the working poor and the environment. But that is impossible because the Big Green agenda isn’t compatible with the needs of the least among us.
Current state and national energy policy is simply cruel. It reflects an emotionally and financially abusive relationship where the left tells those at the lowest end of socioeconomic spectrum that “we are the only ones who love you” while favoring wealthy environmentalists, crony capitalists, and crony philanthropists at the expense of the impoverished.
The infamous Department of Energy loan program has provided nearly $36 billion in taxpayer guaranteed loans for the purpose of mitigating “the financing risks associated with building out commercial-scale clean energy projects” for some of the world’s wealthiest corporations including Goldman Sachs, Ford, and Nissan.
Let’s face it; the Big Green industry has a lot more money to donate to political campaigns than the poor. The relationship between political donations on the left and taxpayer subsidized loans to wealthy Big Green investors such as Pat Stryker (Abound Solar) and George Kaiser (Solyndra) has been well documented.
Add in renewable energy mandates and ask what do taxpayers and electricity consumers get for their “investment” in the Big Green agenda? While wealthy Big Green investors get richer, the rest of us get more debt, failing companies, and higher energy costs, which certainly doesn’t help the unemployed or the working poor.
Poverty rates rising
Several weeks ago the U.S. Census Bureau released data showing an additional 2.6 million Americans fell below the poverty line last year, forcing up the poverty rate from 14.3 percent in 2009 to 15.1 percent in 2010.
Currently, more than 46 million Americans live below the government-defined poverty line of $22,314 in income per year for a family of four and $11,139 for an individual.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 24th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Tuesday April 22nd, 2014 | John Ransom