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Tuesday, 04/28/2015 9:25:04 AM

Tuesday, April 28, 2015 9:25:04 AM

Post# of 31561
US Gov't green energy loan program won't make profit:

http://www.foxnews.com/politics/2015/04/28/gao-does-green-energy-loans-wont-make-profit/

It’s official, the Energy Department’s green energy loan program is actually expected to lose money despite media reports that such loans would net the government a profit.

The Government Accountability Office says the DOE’s oft-touted $28 billion loan program will cost taxpayers $2.21 billion over the lifetime of the loans. Not only that, the costs to taxpayers for green loans has risen about $500 million as “the result of loan guarantee defaults” from companies like Solyndra and Abound Solar.

Rule #1 is never lose money.

Rule #2 is never forget Rule #1.


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