In the January 12 edition of the Washington Post, writer Steve Mufson reports in the article, “Stimulus Bill May Include Energy Measures”, that representatives from Congress and staff from the incoming Obama administration negotiated an additional $25,000,000,000 (that’s $25 billion) the government will dole out to choice “green” energy corporations.
Environmentalist business executives are actively calling for government to create “‘some mechanism to keep markets growing,’” an effort the Post fails to mention means artificial economic inflation. It is this biased storytelling that herds the public into false complacency. Mufson’s failure to report the ramifications of government-driven corporate financing only serves to validate claims that the Washington Post is just another biased media source, as bent on propagating a one-sided argument as the DNC.
What Mufson fails to mention is that this $25 billion “tax credit” is just one more set of welfare checks to unprofitable businesses coming from your hard earned salaries. And not only will this credit go to floundering corporations, the government now has the power to pick and choose which company gets money, which one gets denied, and which ones get lost in the maze that is the bureaucratic machine.
Representatives Chris Van Hollen (D-MD) and Zach Wamp (R-TN) are seeking to create a new $10-20 billion per year bureaucracy, cutely named the “green bank”. It would have the power to lend tax payers’ money to “green” corporations of their choosing. Is this where you want your taxes going—to allow government-paid bankers to control which environmental firms get financed, and which ones are left to crumble?
When all is said and done, I equate government intervention in the economy with an athlete on steroids. In the short term it may look pretty, and the athlete may perform exceptionally well. But there are devastating side effects, all the areas that truly matter shrivel up and rot, and when the athlete stops taking steroids (ie., when the government stops artificially inflating the economy) his entire body collapses to a worse state than it was before his steroid use even began.
Send an e-mail to Steve Mufson and the Washington Post to start reporting the whole story. Go to projects.washingtonpost.com/staff/email/steven+mufson/.