Obama’s “All of the Above” energy policy working out well…for CHINA.
Behold the wonders of Obamanomics: fleecing American taxpayers to stuff money into the pockets of Obama contributors so they can build a company for the Chinese to buy.
In response to news that China-based investor Wanxiang Group Corp would be investing in the federally back A123 battery company, Senator John Thune said, “President Obama’s energy policy has been a win-win for China and a lose-lose for the American taxpayer.”
The South Dakota senator’s statement continued, ““The president borrowed money from China to pay for his $800 billion stimulus bill, and then gambled these funds away on now-bankrupt green energy ventures. Now we learn that a Chinese company has bought one of these companies for pennies on the dollar. In the end, the taxpayers will be left having to repay interest to China for a business that a Chinese company now owns. Given the important national security interests at stake, we expect a full review of the bankruptcy transaction by the Treasury Department.”