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More stimulus waste?

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  • Description

    Nevada Policy Research Institute president Andy Matthews explains

  • Duration 3:42
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Ethical graphic haven't seen one before well remember so linger on the solar panel maker -- got a government loan.

Went bankrupt and left taxpayers on the hook for half a billion bucks.

Well stimulus waste is back -- Nevada based solar plant open last week.

And thanks to the White House it could get up to fifty million dollars in stimulus cash even though it only employees.

Two people.

-- not possible.

Anything president of the Nevada policy research institute joins me very bright and early in Las Vegas a city that never sleeps one of them -- -- more engine.

Good morning good to be here so how could that be possible tell us about this company.

But it's outrageous really and by the way your viewers can read that story at Nevada it's all dot -- and -- basically what we've got here is a Canadian firm.

That is poised to receive fifty million dollars in tax credits through the stimulus.

For a solar plant based in southern Nevada which as you said currently employs two people.

On a full time basis even at 4 o'clock in the morning I -- on the West Coast I can do that math that's 25 million dollars per job.

And the most outrageous part of this is we've been down this road before we all remember Solyndra.

Which of course is the most infamous example of these Green energy debacle but it's not the only one we've actually seen this before here in southern Nevada.

There's another solar plant based in Boulder City.

Which received F 54 million dollars for the stimulus currently employs.

Five individuals are full time basis now ironically that President Obama was -- -- City just a few weeks ago to tell this as a success.

Well my question is that this is success what in the world does failure look like -- so what do these two people do.

Well it's hard to say you know we haven't had a chance to get into all the but you know what this really underscores is exactly what happens when you start to substitute the judgment of government bureaucrats.

For the judgment of consumers acting in a free markets what happens when you have the government start picking the winners and losers.

In an economy you basically have a far less efficient allocation of resources to an open resources.

-- allocated based on political considerations rather than on.

Consumer demand.

And you know when you have the government pick the winners and losers sometimes the winners as in this case will be AF firm based in Canada for example.

But inevitably the losers are going to be the American taxpayer I guess a lot of our viewers right now would be asking the question why does a plant that employs two people need fifteen million dollars.

If it's a great question and unfortunate and I can't answer and I think it's up to the government really to come in and justify this.

But you know some of the more egregious cases.

Of -- have occurred certainly here in southern Nevada.

It's important to remember though this is very much in nationwide.

Phenomenon if you look at all the money that's been spent through the stimulus -- on the so called Green energy projects take all the money that's been spent.

Look at how many jobs have been created it comes to more than two million dollars per job created the private sector can do a lot better than that the American people.

Certainly deserve better than that most troubling of all I think is that even in the face of these failures.

All indications are that the Obama administration is going to continue to move forward with this approach this is not the way to meet our energy challenges -- certainly not the way.

To meet our economic challenges.

And we are just showing on our screen what the stimulus plan is under President Obama taxpayer money allocated in total eleven point two billion.

Dollars.

Amazing not thanks for -- this story to our attention Andy Matthews we'll talk to -- -- thanks so much.

But I think you.

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