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Report: Nearly $5B in Loans Pending for 'Green Projects'

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    Sen. Ron Johnson on federal loans, cutting spending

  • Duration 4:27
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Buddy I'm Neil Cavuto plan.

-- or lose it have you heard about this is going I don't watch it right now.

More than four billion dollars earmarked for at least seven Green projects a lot of insurgents -- marked the money isn't spent now.

Another half billion or so in federal housing funds money meant to keep people out of foreclosure.

But the money could be foreclosed away if it isn't spent by tomorrow which is why -- officials are scrambling.

To have it extended beyond tomorrow.

There is that great big rush to spend -- want -- -- No big rush notes is -- exactly.

How that money's being spent like the more than 533 million that went this illiterate to help build a 700 million dollar stated -- -- -- the size of five.

Football fields complete with robots with selling Disney tunes these things that amazed.

Then you have the spa like showers with liquid crystal displays.

Of water temperatures.

War electorate card charging stations -- wild grass and rock -- what is outlets.

Wisconsin Republican senator Ron Johnson says when you're -- -- this is the kind of stuff that happens -- senator.

This is like.

When it per hour marathon.

-- yeah that's pretty unfortunate this.

This is the wrong way to try and spend taxpayers' money and we should gods we just bottle at these programs expire.

And return them by the taxpayer.

What would happen in other words a senator is it true that are in the case of these Energy Department grants -- monies that have been set aside.

There have been -- you know it's like.

Back back to nothing if if they don't spend it now.

Well let's hope so good news that yeah unfortunately -- there's pretty good death.

Article or and the Wall Street Journal about these energy projects and -- the Nevada solar project right now.

That would spend one point one billion dollars -- create 45 permanent jobs at a cost of 25 million dollars per job.

That's that's on the high end of what these Green energy yet jobs cost jelly there somewhere between 250.

And 750 dollars per job it's did we simply can't continues subsidize this type of an economic activity.

Are now they say -- that by the way that's one of a neighbor job that you're not.

That's not a fair comparison that they're talking about a facility in not a per job -- be -- as it may senator I guess what I'm asking is.

What are the rules on this and other words if the clock is ticking up to -- by the end of the month they -- it's clear whatever.

Then then where does that money go with it is not -- Is it returned -- the -- -- or is it set aside as a future credit line what what.

Well what we we currently have billions of dollars of unspent.

Your previous budgetary authority -- just sitting there waiting to be spent -- for some particular project.

You're -- to -- under that category.

But again -- been numerous attempts to just basically take that money.

And return that to taxpayer and not allow that budgetary authority to go -- that's really what should happen to it -- mean it's not spent it shouldn't be spent.

No I was trying to take a look at at a corner -- is targeted reports are -- about so -- and -- singing robots to we have sound of that guys.

What was -- -- I mean.

The -- -- wasn't Sauerbeck.

Thousands and as -- gazette.

Bottom line arms.

That that.

Is just part of the problem for right all kidding aside when this is what we get for the money were not getting much of the money.

Now we don't -- I mean let's take a look as slender as an example.

Mean this is -- 500 million dollar for a lot basically is what we had -- to -- -- -- before they approved a loan.

A price Waterhouse -- issued a qualified opinion so this is not a going concern.

Because the product they're producing cost six dollars to produce they're selling for three when the competitors are selling -- for a dollar fifty to two dollars per unit.

Yes it's simply not gonna succeed in the in the free market system it should have been obvious to everybody.

But the administration wanted to have a photo op for Vice President Biden.

And tried out the screen -- energy yet program.

And the taxpayers got put on the hook for 535.

Million dollars that is absurd senator thank you very very much.

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