Comment Re:Your tax dollars hard at work (Score 1) 45
This is a loan to Constellation energy to help finance the cost to restart a nuclear power plant by 2027
TMI 1 was finished April 19, 1974, on a Babcock and Wilcox PWR design. It's far past it's life expectancy. Indeed, it got another 20 years in 2009.
1 billion is just for starters.
Unit 2 was gutted and it's the same PWR design from B&W.
In general, I approve of nuclear power generation, but not this particular B&W PWR design, since it's proven to fail.
Add that these systems require huge amounts of cooling water, and that there are competing demands between people, agriculture, other industry, data centers, and power plants on that water. The water is bad enough, but providing power to more AI D.C.s will increase everyone's power bill. Which is, in essence, is exactly what the phrase "Privatizing the profit and socializing the cost" means.
I think the only "government loan" that didn't turn into a handout was for Chrysler, and that only happened because they were building tanks at the time. Certainly most of the Trump COVID loans were forgiven, especially those handed out to politicians (to be fair, of BOTH parties.) Remember how Solyndra controversy went bust and put egg on the faces of the democrats that backed that. And how the Cato institute suddenly stopped comment on it, and later, 45 issues a few pardons to folks that at first blush, don't seem to have ties to that, but a little digging....
Politics is fascinating when one studies the round about way sooner or later everyone winds up in everyone else's bed, but it's you and me that get screwed. I think we can agree that we need to yank all trading rights to politicians while in office, and for 5 years afterward. Might be a good thing too to stop trying to be the bank for some of these loans. A shame that, because there are more than a few that I feel are worth it, but it's the others that are duds that spoil it for everyone.