Obama touts $400M loan to solar company run by corrupt congressman’s nephew

As Ed pointed out last week, President Obama announced in his July 3 weekly address that the federal government will back nearly $2 billion in loans to two solar power companies as part of its “green jobs” and stimulus programs. The $2 billion is supposed to produce 5,100 jobs–but most of them are only temporary construction jobs. A company called Abound Solar claims its $400 million loan will produce 1,500 permanent jobs in Colorado and Indiana, and–this is a fact Obama conveniently left out of his remarks–the $1.45 billion loan to the Spanish company Abengoa Solar will only produce 85 permanent jobs. That’s right: 85. I’m not cutting off any zeros. READ MORE..