So the present Administration throws a few billion at solar companies (could be talking a prior Admin and ethanol, or whatever)... They say we're investing in the future; the future of the energy industry, future jobs, and the future of this planet... It's therefore - given high unemployment, rising oil prices and melting ice caps - worth every dollar "we" can throw at it...
Breaking News! No kidding! As I type this: First Solar, the Nation's largest (and heavily govt-subsidized) solar-maker, just announced it will cut its workforce by 30% to align its operations more closely with current opportunities... Its stock is up 6%, to $22.05, in the pre-market... By the way, it traded north of $120 just a year ago... But hey, we're thinking long-term...
Now you and I know that all government spending is taxpayer funded - so why haven't, being that we ain't runnin no surplus, these "investments" required an immediate increase in our income taxes? Well, as a practical matter, had the powers-that-promote-green-power proposed a tax hike to fund these grand "investments", us voters would be none too friendly come this November... So then, alas, they borrow... For they know that us consumers will allow the worst sort of chicanery when we're given 30 years to pay for it (let's hope our grandkids are the forgiving sort)...
That's why the costs of proposed schemes are forever fed to us in 10 year servings: "The CBO estimates the cost of XYZ over the next 10 years will be $X"..."Over the next 10 years the deficit will be reduced by $X if we raise taxes on people who earn above $Y"... Sound familiar?
Prudence, alas, is lost on tomorrow's, and other people's, money...
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