54 Billion More Borrowed From Our Kids

Yesterday, President Obama announced a new gambit to get Republicans closer to getting on board with the cap and trade scam — I mean, scheme — that he desperately wants to pass during his administration. He is now promising guaranteed loans to industry for the building of the first new nuclear power plants in around 30 years in the United States.

If I blur my eyes enough, this is a darn good thing. It’s inexcusable that with all the problems that the requirement for fossil fuels cause we still have “environmental” concerns about this tech. Anyone that won’t even consider nuclear power plants in the year 2010 is subscribing more to a religion than common sense. So, yeah, good on Obama, right?

Well, no, I don’t think so. The biggest problem that citizens have right now with our government is the catastrophic spending binge we’ve been on. It’s been a problem throughout the last decade, but has reached truly stupid levels in the past year. Given that, take a gander at this paragraph from the above-linked article:

According to the official, Obama’s 2011 budget “triples loan guarantees for nuclear-power plants to more than 54 billion dollars.”

This is a good thing? Really? So, we’re spending 54 billion of borrowed money to loan to private industry at great interest rates. News flash: this is a bad thing, not a good thing. My question is this: why the need for government loans? Is the price of generating electricity via nuclear power really more expensive than via coal, oil, or natural gas? If it is, why? Is it due to insurance costs? Excessive regulation? Waste disposal? The cost of the fuel? That should be the answer: attack the problem from those angles, and not go to our grandchildren for the money to finance our projects.

Republicans need to see this for what is is: the administration borrowing from the future to buy them off for votes for the tax and control scam cap and trade represents. I’m all for the industry building out our non-fossil fuel capacity. The government has no business greasing the skids — especially when the deficit is so ridiculous.

Thanks to Instapundit for the link above, even though we’re on different sides on this one (rare, but it happens).

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