Stimulus Dollars Disproportionately Went to States Represented by Dems

According to a new report on President Obama’s stimulus package and its effect on the economy, the amount of stimulus money that went to each state was correlated with the number of Democrats in each state’s congressional delegation. The data is revealed in a new book by Grover Norquist, president of Americans for Tax Reform, and John R. Lott Jr., a prominent conservative academic. The book, titled Debacle: Obama’s War on Jobs and Growth and What We Can Do Now to Regain Our Future, contains this chart showing the correlation: The … More

Another Stimulus-Backed Energy Company Files for Bankruptcy

After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection. The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use. But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A … More