Obama’s Failed Green Energy Policies: American Taxpayers Lose $139 Million on Fisker Automotive Loan

The Obama administration fumbles the ball again in picking Fisker Automotive and giving them our hard earned money …

What else could we expect from Barack Obama, but yet another failed policy costing the American tax payers millions in wasted money. This time it is Obama’s failed so-called green energy policies like Fisker Automotive and a $139 million loss.  Great, now we are selling off $192 million defaulted loans to the Chinese for $25 million. Thanks Barack Obama.

Happy Thanksgiving from the Obama administration. The Energy Department has sold off its $192 million loan guarantee to Fisker Automotive to Chinese billionaire Richard Li for $25 million — the biggest taxpayer loss on a green loan since the failure of Solyndra.

The Energy Department will announce the “selling of the promissory note” to Hybrid Tech, which is owned by Chinese billionaire Richard Li, according to sources familiar with the sale. The DOE sold the loan to Li for $25 million after lending the financially troubled green automaker a total of $192 million since 2009.

“Once again, American taxpayers are losing out to foreign investors due to the Obama administration’s failed green energy policies. Time after time this administration has fumbled the ball with their attempts to pick winners and losers when it comes to American energy,” House Energy and Commerce Committee vice chairman Marsha Blackburn, a Tennessee Republican, said in a statement to The Daily Caller News Foundation.

“As a result of President Obama’s misguided policies, the Department of Energy Loan Guarantee program is quickly becoming a highly utilized stimulus program for foreign investors,” she added.

Including the $25 million loan sale, the DOE has recovered only $53 million of the original $192 million disbursed — netting taxpayers a $139 million loss.

Fisker was awarded a $529 million loan guarantee by the Obama administration in 2009 to produce a luxury hybrid car, the Karma, which sold for a $103,000 per unit. However, failure to meet Energy Department benchmarks to receive funding resulted in the company losing its loan guarantee in 2011

TICKING TIME BOMB: Second Wave of Health Care Cancellations Estimated at 50 to 100 Million (Employer Mandate – Obamacare will Devastate Small Business)

Obamacare is a ticking time bomb for small and large business insurance health plans …50 to 100 million insurance policies to be canceled in 2014.

“Hope and Change,” eh? The next time some one promotes change, you might just want to read the 2000 pages of a bill before you allow politicians to pass it so we can see what’s in it.

Congress needs to put a stake thru the heart of Obamacare and repeal this law before it does irreparable harm to the United States. It may be imploding, but it’s not going away. Obamacare is like Jason Voorhees of Friday the 13th fame, it has to be put down once and for all. If not, the so-called fixes will just be more of the same, all to many bad remakes.

Hey America, how that Barack Obama’s promise that you can keep your healthcare plan if you like it, PERIOD! working out for you? Stan Veuger from the American Enterprise Institute told FOX News yesterday that he foresees 50 to 100 million small and large business policies likely to  be cancelled next year.  They will likely then be forced on to Obamacare and their health care costs will be much more than previously paid. Hmm, did Obama also promise to reduce the healthcare costs as well? This is just the tip of the iceberg. Imagine what will happen to the insurance industry and the US economy is 50 to 100 million insurance policies are canceled and individuals and families are forced to pay more, taking billion out of the economy and destroying the insurance industry. But then again, isn’t that what the community agitator was after all along, a single payor government healthcare system.

The Obamacare Time-bomb: That is a political disaster for the Democrats.

It gets worse. As the American Enterprise Institute’s Dr. Scott Gottlieb has pointed out, there is already a second wave of cancellations set to come right before the 2014 mid-term elections. It turns out that many small businesses with fewer than 50 employees, who buy in the small-group market, were able to exploit a loophole in Obamacare and avoid for one year the mandates being placed on plans in the individual market. Those businesses get to keep offering coverage that does not meet Obamacare requirements until the end of 2014. But, Gottlieb writes, that means that “starting in October 2014, many employees of small businesses will start getting the same notices that are now being mailed to individuals, informing that their existing health plans are also being cancelled.

[...]

It was Obama’s plan all along to forcibly move millions of those younger, healthier people into the exchanges next year to subsidize care for the old and the sick. But if those younger, healthier people don’t join the exchanges next year, as planned, then the risk pool in 2014 will be older and sicker than expected. That will cause premiums to skyrocket for 2015 — because insurers base their 2015 premiums on their 2014 experience.

VIDEO Hat Tip - The Gateway Pundit

FOX News:

A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall — right before the mid-term elections.

The next round of cancellations and premium hikes is expected to hit employees, particularly of small businesses. While the administration has tried to downplay the cancellation notices hitting policyholders on the individual market by noting they represent a relatively small fraction of the population, the swath of people who will be affected by the shakeup in employer-sponsored coverage will be much broader.

An analysis by the American Enterprise Institute, a conservative think tank, shows the administration anticipates half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the ObamaCare exchanges. They predict up to 100 million small and large business policies could be canceled next year.

Is it any wonder why Barack Obama no longer refers to his signature piece of legislation as “Obamacare.” Now that Obamacare is a 4-letter word and a disaster, suddenly it has become the “Affordable Healthcare Act”.  Funny how a 37% job approval rating will do that.

WAPO/ABC News Poll: Buyer’s Remourse – Mitt Romney Would Beat Barack Obama if the Presidential Election was Held Today, 49% to 45% … Poll Numbers in Free-Fall

DOES ANYONE REALLY WONDER WHY OBAMA LIED THRU HIS TEETH ON OBAMACARE AND YOU CAN KEEP YOUR INSURANCE PLAN IF YOU LIKED IT? DO YOU REALLY WONDER WHY THE MSM NEVER BOTHERED TO ASK QUESTIONS?

It is the great fraud perpetrated on the American People …

As reported at The Politico, there is more disastrous polling numbers for President Barack Obama as a recent WAPO-ABC News poll shows that if the 2012 presidential election was held today, Mitt Romney would beat Obama, 49% to 45% among registered voters. Talk about your “buyer’s remorse”. This is a much different outcome than the 2012 match-up where Obama beat Romney 51% to 47% to win a second term. My how times have changed. What a difference the truth makes. What a difference it makes when the MSM decides to actually report on the numerous scandals of the Obama White House.

Making matters worse for Obama, Independents go for Romney 49% to 39% over Obama.

The WAPO/ABC poll also has Barack Obama’s job approval rating at 42% approve, 55% disapprove.

From WAPO

As more bad poll numbers continue to pour in for President Barack Obama, a new survey finds that if the 2012 election matchup were held this month, Mitt Romney would hold the edge with the voters.

Romney topped Obama 49 percent to 45 percent among registered voters in the Washington Post-ABC News poll released Tuesday. Among all Americans, the 2012 rivals would be tied, at 47 percent.

Obama beat Romney 51 percent to 47 percent a year ago to win a second term.

The poll also found more bad news for Obama: His approval was down to 42 percent, a fall of 6 points from a month ago. Fifty-five percent disapproved.

Other damning poll numbers from WAPO-ABC News Poll:

Other ratings of the president’s performance have tumbled as well. He’s at career lows for being a strong leader, understanding the problems of average Americans and being honest and trustworthy – numerically under water on each of these (a first for the latter two). His rating for strong leadership is down by 15 points this year and a vast 31 points below its peak shortly after he took office. In a new gauge, just 41 percent rate him as a good manager; 56 percent think not.

This poll, produced for ABC by Langer Research Associates, finds that the president’s personal image has suffered alongside his professional ratings. Fewer than half, 46 percent, see him favorably overall, down 14 points this year to the fewest of his presidency. Fifty-two percent now view him unfavorably, a new high and a majority for the first time since he took office. It may matter: Personal popularity can provide a president with cushioning when the going gets rough. Losing it leaves the president more vulnerable.

ACA – Skepticism about the Affordable Care Act looks to be the driving force in Obama’s troubles. Americans by nearly 2-1, 63-33 percent, disapprove of his handling of implementation of the new health care law. And the public by 57-40 percent now opposes the law overall, its most negative rating to date, with opposition up by 8 points in the past month alone.

RCP Average Polling – Complete carnage, almost under 40% as an average.

EXIT QUESTION: How does everyone think that the 2012 Presidential, House and Senate elections would have turned out if IRS-gate was reported on, if Benghazi-gate had been reported on, if AP-gate had been reported on and if, Barack Obama had told the truth and said that 5-10 million individuals with private healthcare plans who liked their insurance would lose it? How about if he told those with employer insurance coverage would lose theirs as well and it would be worse? Hmm?

The Deep Blue State of Washington State Says It Won’t Allow Obama’s Administrative Health Plan “Fix”

Obamacare spiraling out of control …

The insurance commissioner in the liberal, deep blue state of Washington says no to Barack Obama’s healthcare fix that he put forth yesterday. Obama announced an administrative fix, code for unlawful executive edict, at a presser in an attempt to save his and other Democrat’s political bacon. After Obamacare forced every state and and every insurance company to spend untold millions to adapt to Obama’s signature piece of legislation, Barack Obama now tells them it’s okay to forget all that and change back to the old way. But just for one year. Are you kidding me. Oh, did we mention this walking disaster of an undisciplined, leaderless, joke of a president even managed to show up to the press conference 1/2 hour late? However, how exactly can Obama change a law in midstream and then tell state insurance commissioners to follow his latest whim, in order to save face? With the heat on as his pole numbers are sinking fast, Barack Obama now looks to once again shift the blame on to some one else, because the buck never stops with him. But, as the Lonely Conservative opines, “Who will they blame this on? Those evil Democrat Insurance Commissioners?”

America, this is what you get when you hire an unqualified, community agitator to be a CEO. Instead we have a misleader in office who is completely incapable of doing the job.

Washington state’s insurance commissioner says President Barack Obama’s proposal on old insurance policies isn’t a good deal for Washington citizens.

Commissioner Mike Kreidler said Thursday he won’t allow insurance companies to extend their old policies that didn’t meet the requirements of federal health care reform. An estimated 290,000 Washington residents have received notices that their old insurance policies will be canceled.

“Trying to do what the president has proposed would be very disruptive to the insurance market in the sate of Washington so no, we will not be allowing insurance companies to extend these policies,” he said. “You’d have to go back and re-rate all of the policies, and the premises for what they originally proposed rates would all change.”

Kreidler, a Democrat, says all of them can get better coverage on the new health care exchange. He says at least half of them will qualify for a subsidy to help them pay the premium.

“I have empathy for these people, I certainly feel for them, but at the same time, people really have a chance right now to shop and compare various health plans and make some decisions that best fits themselves and their families in ways that could never do before,” Kreidler said. “But if you wind up extending these current plans that are out there, you really disrupt the ability for that to happen.”

When asked if he was worried his decision was going to upset those who just heard earlier in the day they could keep their insurance, Kreidler replied that having the new policies that meet minimum coverage requirements will be beneficial to them in case of a major health incident.

PJ Media reports Arkansas will also go to allow the Obama “fix”.

More Executive Orders from The Imperial President Obama Creating “Council on Climate Preparedness and Resilience” to Implement “Climate Change” Agenda

WAKE UP  AMERICA, STOP THE TYRANNY!!! Barack Obama, the Imperial president is at it again with his global warming, oh sorry, “climate change” agenda …

The Halloween season, but nothing should be more scary to Americans that Barack Obama and his liberal, socialist agenda. It would appear that the imperial president is at it again, as The Daily Caller reports, on Friday issued  an executive order titled “Preparing the United States for the Impacts of Climate Change.” Obama knows that nothing like this would ever pass through Congress, so instead the Obamamessiah looks to devastate, regulate and control the economy even more through executive fiat. As if Obama has not done enough to destroy jobs, put record number of people on food stamps, destroy the coal industry, devastate the economy with Obamacare and now this? He will not be happy until he turns the United States on its head into something that you do not even recognize.

This is what you get from a community agitator, an individual that says the hell with the US Constitution and looks to just force his agenda without consent of the will of the people. Folks, this is what tyranny looks like. Obama is proving to be nothing more than a menace.

Brought to you by the president who delivered “cash for clunkers,” the “billion dollar “stimulus” plan, promises of a job recovery and Obamacare that has caused more Americans to lose their insurance than enroll in it.

President Barack Obama has given the nation a new “Council on Climate Preparedness and Resilience” that expands government bureaucrats’ role in how Americans use their lands, energy, waters and property.

Obama announced the executive order Friday, the day after Halloween.

The order is titled “Preparing the United States for the Impacts of Climate Change.”

The new order was issued even though recent scientific data have contradicted claims that use of carbon energy — such as gasoline — will drive up the world’s temperature and induce damaging climate change. Average temperatures have leveled for more than a decade, despite the sharply rising use of carbon energy in China and other countries.

U.S. use of carbon energy has stabilized with increasing market-driven efficiency and tightening regulations. (Read Full story)

Just curious Barack, how is it possible that the Earth has gone through a myriad of climate changes, both cooling and warming, before man ever had any type of impact on the environment?

This is just another federal government grab … when will Americans ever take back their liberty and freedom on which this country was founded?