By Tom Quiner
Mitt Romney is under attack for the successes and failures of Bain Capital while he was there.
Whatever you think of Mr. Romney, and I have concerns about him as a candidate, I would like to point out that Bain Capital used private money to make more money.
Let us contrast that with President Obama who is using public money, yours’ and mine, to fund his venture socialism initiatives in green energy.
We’re all familiar with the Solyndra debacle that blew through hundreds of millions of yours’ and mine dollars. Rank and file taxpayers were disgusted by the whole affair because the federal government has no business picking winners and losers in the private sector with our tax dollars.
Whether its Democrats or Republicans doing it, crony capitalism is nothing but venture socialism.
The marketplace should pick the winners and losers. Japan’s economy was touted as the wave in the future back in the 80s with their embrace of “industrial policy.” In other words, the government would pick the winners and losers in business, not the marketplace. I remember Ted Kennedy leading the battle cry for the U.S. to be more like Japan.
The rest is history. The Japanese economy tanked. They haven’t recovered to this day. This is the economic model President Obama actively embraces. Is it any wonder our economy isn’t recovering as it did with Ronald Reagan at the helm?
Now a CBS reporter, Sharyl Attkisson, has reported that Solyndra is just the tip of the iceberg. She details eleven more “Solyndras,” green energy companies that received yours’ and mine tax dollars and have gone broke … or are on their way.
Taxpayers are on the hook for billions more. Charlie Rose reports that CBS has uncovered a pattern of the Obama Energy Department pouring tax dollars into green energy. Ms. Attkisson provides the details.
This year’s presidential campaign will determine if America continues to embrace the socialism promoted by Team Obama. The green energy debacle should give voters pause on whether they want their country to embrace venture socialism.