Obama is happy to announce that $2.4 billion has been designated to construct a factory and otherwise fund a new industry in America. And what is it that we need so badly that we're spending this kind of money from the taxpayers?
It's a product that's already saturating a market that really doesn't want it. It's actually a part for something that, to paraphrase a famous quote, the public's not buying in droves. It's a product that is already glutting the global market. By 2014, global capacity to build this product will be triple the demand.
What is this product? It's an electric car battery. To ramp up lagging demand for the product, one of the companies receiving this federal largesse is suggesting that the federal government buy electric and hybrid vehicles for its fleets.
The Obama school of economics is taking money from thriving businesses that are offering goods and services the public wants and putting that money into businesses that make a useless item nobody wants. Given Obama's track record (everyone has to buy insurance), my guess is that the next thing coming down the pike is that everybody must buy an electric car battery or face stiff fines. Remember, you first heard it from Essie May!
"Seeking a battery connection." The Dallas Morning News; July 16, 2010; p. 2A.
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