Obama Spokeswoman: Solyndra was 'Successful and Innovative'
Well. It's beyond dispute now that Democrats who support Obama really do not understand what constitutes private-sector success. They proved that they do not know how to read complex financial information when they attacked Romney's exit from Bain. Fresh from the president telling truly successful business creators that they didn't build their successful businesses, Obama spokeswoman Lis Smith praises the very company that has become the symbol of Obama's wasteful greendoggles.
"The reality is that Solyndra received funding through a Department of Energy program created under the Bush administration — a program that has supported tens of thousands of jobs across the country and is moving forward with investments in innovative projects like the first nuclear plant built in the U.S. in decades and the world's largest wind farm," Lis Smith told the Detroit News. "In fact, both Republican and Democratic administrations advanced Solyndra's application, and the company was widely praised as successful and innovative both before and after receiving the Department of Energy loan guarantee."
As with anything coming from the Obama camp, there is much sleight of hand in that. The program that loaned Solyndra the money was indeed started before Obama, but that specific loan to Solyndra was not. In fact, Ms. Smith, the Bush administration turned Solyndra down, but the Obama administration approved it. Before the company went belly up, Obama even personally appeared at Solyndra's palatial factory to tout the company and the DOE loan. Who are you gonna trust, some reality-challenge Democrat or your lyin' eyes?
In truth, Solyndra didn't build its failure alone. It had help from the Democrats. Solyndra's loan approval was announced by the Obama energy secretary, Steven Chu, in March 2009. The money for the loan came from the Obama/Democrat 2009 stimulus package. By December 2010, Solyndra was going down as its inventory piled up. The Obama administration tried papering over Solyndra's crash, even helping them with the PR. But it turned out that there was no market for the product that the government had loaned the company to make and sell.
In the spring of 2011, Solyndra filed for bankruptcy. It was so "successful and innovative" that today, it's a lavish, empty hulk and a symbol of a foolish administration with very little private sector experience trying its hand at a command economy. If Smith believes Solyndra was successful, it's reasonable to believe that a second Obama term will come with the flexibility to create more Solyndras.
What we see, from Lis Smith to Liz Warren to Barack Obama and across the Democrat mouthpieces defending him today, is agreement that government knows best and therefore deserves more and more money from successful Americans who aren't really successful. Too bad for these Democrats, the facts say otherwise.