China Wins, U.S. Loses In A123 Bankruptcy – Forbes

See on Scoop.itEconomicFactors

It is a triple irony. U.S. borrowed money from China to subsidize a battery company to compete with state subsidized Chinese battery companies.

Bill McKee‘s insight:

The obama administration’s ineptitude in all things commercial was exposed yet again by China.  The administration’s track record on throwing away taxpayer money for politically correct companies in politcally correct industries is horrific failure.  If he didn’t have the mainstrream press in his back pocket, the failure after failure would be case #1 of why government bureacrats today are one of America’s greatest enemies to national security and chances for prosperity of it’s people.  The government consumes earned income from taxapyers at an increasing burn rate, demanding that more taxes is the solution. 

 

More and higher taxes is the only solution to stupid that this administration can think of.  Heaven help us all..

See on www.forbes.com

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