Car Company Builds in Finland After US Loan

Slowly dribbling out of the news are stories that suggest why the economy has not turned out the way Obama and Biden promised.

Here is what ABC News is reporting.

Vice President Joseph Biden heralded the Energy Department’s $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company’s manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.

So a $529 million loan was given to an electric car company called Fisker but has yet create meaningful employment here in the United States — but plenty in Finland.

I was under the impression that this was a new news story but it is actually three months old after having done a Youtube search for this video.


Vice President Biden had a cop out when responding to what ABC had to say.

"the Office of the Vice President did not encourage the Department of Energy to choose any particular company over any other but, like others in the Administration, supported the Department’s loan program and the creation of car manufacturing jobs in the United States."

So his excuse is they did not know anything about the companies we, the tax payers, invested in but that they support the jobs coming to the US. The thing about that is. He declared that jobs would come to the US. And if it did, he would try to take credit for it. Now that this money was sent to a company abroad, he can claim they did not know about it. So then there should be an investigation as to why the money was not better spent here in the USA. Or better yet, not wasted anywhere.

Will someone be accountable for this? I doubt it.

Here are the results of a recent GS Strategy Group poll that shows by an overwhelmingly large margin that Americans in the battleground states believe the Republicans are better at creating jobs than Democrats. With this story, is it no wonder?

My feeling is this. Many say that Obama is trying to fix this economy but is being held back too much by the Republicans in congress. Evidently, his administration has been able to accomplish a lot of what they were trying to do but just not very successful at it.

Obama is also criticized for sending jobs to Brazil.