More Solyndra-like loans haunt DC
We learned this week that Republicans pushed for Solyndra-like loans for their cronies as well. This should not surprise anyone. Politicians, whether from the left or the right, will always be under pressure to fund their crony’s ventures, putting their incentives at odds with the best interest of taxpayers. On the other end, businesses will always seek to use whatever means possible to give them an advantage. The only way to prevent the abuse is to restrict government’s ability to grant such favors. Our government was designed under the Constitution to have very restrictive powers because the founding fathers respected the limitations and frailties of human nature. These scandals remind us to think twice before granting politicians more power as they too are mere mortals, often less venerable, less responsible, and all too often possessing inferior judgment. These failed investments illustrate how expanding the scope of government invites abuse and the taxpayers foot the bill, regardless of which political party initiates the so-called investments.
