Plant that got $150M in taxpayer money to make Volt batteries furloughs workers | Fox News
President Obama touted it in 2010 as evidence "manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced...“Considering the lack of demand for electric vehicles, despite billions of dollars from the Obama administration that were supposed to stimulate it, it’s not surprising what has happened with LG Chem. Just because a ton of money is poured into a product does not mean that people will buy it,” Paul Chesser, an associate fellow with the National Legal and Policy Center, told FoxNews.com.The National Debt, In One Chart | Power Line
The 650,000-square-foot, $300 million facility was slated to produce 15,000 batteries per year, while creating hundreds of new jobs. But to date, only 200 workers are employed at the plant by by the South Korean company. Batteries for the Chevy Volts that have been produced have been made by an LG plant in South Korea.
...You are leading the way in showing how manufacturing jobs are coming right back here to the United States of America,” Obama told workers at the ground-breaking ceremony. “Our goal has never been to create a government program, but rather to unleash private-sector growth. And we're seeing results.”...“Billions of dollars were put into Volt research, and Ford received $5.9 billion in stimulus loans to retrofit plants to produce [electric vehicles]," Chesser said. "The battery companies like LG Chem that were supposed to service them have no customers to speak of. Their existence was solely based on access to taxpayer money.
“Had it been private investors rather than government bureaucrats making the decision, there either would have been a reality check about the industry, or only those who made individual decisions to invest would have lost their money, not taxpayers.”
There are two appalling aspects to our exploding national debt under President Obama: the first is the sheer magnitude of the burden with which we are saddling our children. The second is that we have virtually nothing to show for it; not even a perceptible amount of infrastructure improvement.