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Joe Biden is in Michigan today, reportedly to announce the first round of $2B in battery grants.  (Source: The Weekly Standard)
Grants bring good news to state's troubled economy

Michigan is among the states that has been hit hardest by the recession.  The government went to extreme measures to keep the state's economy from collapsing, including assuming majority ownership of GM and propping up Chrysler through bankruptcy.  Now the federal government is preparing to reach deeper into its pockets to help the state out even more.

Vice President Joe Biden is in Michigan today at the NextEnergy Center in Detroit.  He is reportedly going to announce the first round of $2B USD in Department of Energy battery grants.  The grants should boost the state's economy and help develop better electric vehicles, currently favored as the future of the car industry by the domestic automakers.

The federal government is also separately loaning money to battery manufacturers under the $25 billion Advanced Technology Vehicle Manufacturing Incentive Program (ATVM).  Among the battery manufacturers that applied for that loan are A123 Systems, EnerDel, and Compact Power.  Thus far Ford, Nissan, and Tesla Motors received ATVM loans.  It is unknown who the grants will go to, but A123 Systems, EnerDel, and Compact Power seem like leading candidates.

Ed DeSeve, the president's special advisor on the stimulus program, had stated about on July 21, "I think you'll see over the next week or so ... some industrialization focus, for example, on the battery grants that are coming.  It makes sense to put those in places where there is productive working capacity -- people who can do the jobs. There are plants where the jobs can exist, and I think you are going to start to see more and more of that over time."

The ATVM loans must be repaid eventually by automakers and battery makers.  However, the DoE grants do not have to be repaid.  Michigan has also offered battery makers some big tax cuts in hopes of luring business into the state.

A limited amount of tickets to Mr. Biden's appearance have been offered to the public on a first-come-first-serve basis.



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RE: Good
By sgw2n5 on 8/5/2009 1:02:02 PM , Rating: 0
RE: Good
By MrPeabody on 8/5/2009 2:03:47 PM , Rating: 2
That report seems misleading. The link to the original report is broken, or I'd figure this out myself, but the page you provided doesn't really give a breakdown on the type of spending in each state.

Doesn't North Dakota have all sorts of government installations, like missile silos? I bet those are pricy. Especially compared to all four taxpayers that actually live in the state.

As another example, Alaska is lousy with federal parks, wildlife refuges, and more missile silos, among countless other Federal shennanigans. Also, everything is more expensive there anyway.

I guess my point is that just because the federal government spends more money per taxpayer in North Dakota, it doesn't mean that those North Dakota taxpayers personally see more money than they pay.

Whereas I'd be willing to bet that most Welfare recipients get more from the government than they put into it.


RE: Good
By Mr772 on 8/5/2009 3:06:28 PM , Rating: 1
Great link.

Be careful these angry, propaganda spreaders will not be able to take it if they find out they have been sheep repeating a lie.

These hard liners are so confused and mislead by their idiot talk radio brethren who constantly construe and fabricate reality.


RE: Good
By mdogs444 on 8/5/2009 3:08:33 PM , Rating: 2
quote:
These hard liners are so confused and mislead by their idiot talk radio brethren who constantly construe and fabricate reality.

Anyone who talks like you spends way too much time on liberal websites...Media Matters, Huffington Post, am I close?

Do you also like the smell of your own farts?


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