Thursday, July 19, 2012

More failure from the stimulus: Energy Dept. loses $500K worth of equipment

That's our money (and our children's, and grandchildren's, and great-grandchildren's...) they're spending:

The Heritage Foundation reported earlier today on their blog, The Foundry, that $500,000 worth of equipment purchased as part of the "green energy" grants under Obama's stimulus program have gone missing.

And, oh, how charming, the Energy Department can't figure out where the equipment is and won't specifically identify which recipients lost the equipment.

One would expect that there would be some sort of evaluation or standards to apply before our government started flinging around billions of dollars of our money (this "Advanced Batteries and Hybrid Components Program" that is involved in the missing equipment constituted about $1.2 billion in grants), but no.

Neither the stimulus bill nor the Energy Department regulations include any definitions for the "best commercial practices" that are supposed to qualify companies to receive these grants, and several of the companies haven't even submitted documentation of their purchases. Stupidity like this is how we end up nearly $16 trillion in debt while serious problems remain unsolved. Just throwing money at a problem isn't a solution.

Funny how the Obama Administration loves adding regulations when it wants to meddle in the livelihood of American small business owners, but they can't be bothered to enact even the most basic safeguards when they are passing out stimulus dollars to their cronies.

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