In addition, the Office of Management and Budget warned that the Energy Department's restructuring of the Solyndra loan to subordinate taxpayer loans to those of private investors would result in enormously greater taxpayer losses, calling it a "bad idea." But it proceeded anyway, resulting in $168 million worth of additional losses to taxpayers. What's more is that the White House's hands were all over this one; there are no six degrees of separation here, not even one degree. White House chief of staff Bill Daley was explicitly made aware of Solyndra's grave financial problems before the restructuring decision.
At least a dozen more Solyndra-like Obama brainchildren have gone bankrupt, swallowing taxpayer dollars in their gluttonous paths to failure. In his encounters with Obama, Romney should slowly pronounce these names: Abound Solar, Beacon Power, Ener1, Energy Conversion Devices, Evergreen Solar Inc., Mountain Plaza Inc., Olsen's Crop Service and Olsen's Mills Acquisition Co., Range Fuels, Raser Technologies, SpectraWatt and Thompson River Power LLC. Romney should demand that Obama explain how cavalierly shuffling money from the private sector to these fantasy projects could have produced any net jobs in the first place. He should further demand that he be made to answer for the millions upon millions of taxpayer losses caused by their inevitable failures.
But do you think Obama is the least bit repentant about his waste of taxpayer money? Is he deterred from his maniacal insistence on pursuing other such projects?
In a word, "no." Just last month, Interior Secretary Ken Salazar -- the arrogant administration official who defied a federal court order lifting the administration's scandalous ban on deep-water drilling in the Gulf, by rewriting a new ban that would devastate the Gulf economy and cost thousands of jobs -- weighed in on Solyndra-gate, dismissing it as casually as he did the federal judge's order. He referred to these government-created financial disasters as "just minor (and expected) blips for the industry."
Without a hint of administration contrition, he said, "Anytime you're dealing with an emerging future on energy, you're always going to have successes and you're going to have setbacks." And get this: He added, "And President Obama and I remain very confident that we're moving in the right direction."
Please, Mr. Romney, press Obama to elaborate on how incurring hundreds of millions of dollars in forced taxpayer losses in pursuit of green energy windmills is "moving in the right direction." Please, make our day.