Obama / Biden Let Taxpayers Pay For It

Fisker Automotive a luxury auto maker is buying a closed Motors Liquidation Co. (MLC), formerly known as General Motors Corp. i.e. GM, plant in Wilmington DE.  Fisker has plans to build hybrid cars at the plant.  The selling price is $18 million.
Vice President Joe Biden was among those on hand to announce the potential sale of the GM plant, which produced the Saturn Sky and Pontiac Solstice roadsters, as well as an Opel version that was exported to Europe, before closing this summer.

"I refuse to believe that we will not once again lead the entire world in the manufacturing of automobiles," Biden told a crowd of more than 1,000, including scores of union workers. "This factory in Delaware, and the industry, are going to get back up off the mat."

There is a catch America.  Your tax dollars will be paying for this plant and help the UAW even more.  Fisker, which is receiving for $528.7 million in government loans to develop plug-ins, expects to spend another $175 million to refurbish the facility before production of next-generation hybrids begins in 2012.

Fisker expects Project NINA will create or support 2,000 factory jobs and more than 3,000 vendor and supplier jobs by 2014, with full production capacity of between 75,000 and 100,000 vehicles per year. More than half the cars will be exported, the largest percentage of any domestic manufacturer.

"This is a major step toward establishing America as a leader of advanced vehicle technology," said CEO Henrik Fisker, who described the production of electric hybrids as part of "the most dramatic change in the car industry ever."

Is this a wise investment of your hard earned tax dollars?  The government is giving Fisker $528.7 million for maybe 5,000 jobs 5 years from now.  It is costing taxpayers approximately $100,000 for each of these jobs.  Jobs that we have no guarantee that will ever be created.  The UAW is salivating at the thought of 5,000 jobs.

American taxpayers are footing the bill again.  We loaned GM money that we won’t get back.  Elitist progressive Barack Hussein Obama sold out taxpayers for the UAW on the GM bankruptcy.  Even with tax dollars and the bankruptcy GM may not make it.  Now more tax dollars going down the drain.  When will it stop America?

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