Editorial - 9/26/11

When you're arrogant, careless or clueless, flying with fabricated wings, too close to the sun, soon fantasy fails, the reality of gravity kicks-in, and you plummet to earth, poor judgment the cause of death.  Icarus lives!  Proven, when an Administration-anointed company, solar-panel manufacturer, Solyndra, ventured too high on the wings of a flawed business plan, then, forced into bankruptcy, careened back down in a fiery, fiscal heap.  Sadly,  many companies have suffered untimely demise in this turbulent economy, so why single-out Solyndra?  Because Fed-favorite Solyndra didn't die alone.  Beyond private investors, the company took America's tax-payers down with it.  And that's because, with alleged White House fast-tracking, during Stimulus-Fest 2009, the Feds handed Solyndra a "loan-guarantee" of 535-million, or in today's mega-bucks lingo, over a half-a-billion-dollars.  Whether you call it a loan-guarantee, the deflection ploy the Feds favor, or simply a loan, the result is the same for the 53% of income-tax-paying Americans, who've now seen still-more mega-millions washed down the Fed commode, long-ago set to auto-flush.  Adding personal insult to national injury, over 1,000 Solyndra employees have now lost their jobs, joining the millions languishing on our unemployment rolls.

Solyndra's demise isn't complicated.  The cost of the panels exceeded the price at which they could be sold. While Solyndra execs took the 5th last week in D.C., and the Administration's getting singed, America's tax-payers got scorched.  Regardless, the Feds refuse to expand use of our far-more economical fossil and nuclear fuels, with our abundant reserves, and proven, cost-efficient productivity. While the Fed-agenda makes a costly-hobby out of fostering "green" power, heavily subsidy-dependent, America's tax-payers continue to pay the real price, in that other form of green.