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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: Michigan
By MrPoletski on 8/6/2009 6:18:03 AM , Rating: 2
quote:
As far as "communist". Look at the man's record and what he himself has said when not on the campaign trail (and even on it at times. You know who I am on this site. If I started saying I agreed with liberals, would you just trust my word blindly? Obama has said he favors a single payer system, a complete gun ban, wealth redistribution, etc. on more than one occassion. But we're supposed to believe him when he says he doesn't as he tries to get approval for his plans or tries to get elected?


An important thing to realise is that none of those things make Obama a communist.

As for wealth redistribution, nicely worded way of making taxation sound like a communist policy. There is no taxation in a communist state, after all, how can you be taxed on something that your dont have?

Wealth is already distributed between people all around your country. It drains out the bottom of your poor via inflation (controlled by the fed) and comes back in the top via the fed... (but nobody knows where this money goes, except the fed). You also get taxed and those taxes already go on to pay for things people can't otherwise afford.

All Obama has done is adjust the parameters of the redistribution equation to favour the middle class more. He hasn't increased or decreased the budget at all, therefore there is no more and no less wealth redistribution going on under his leadership.

Now bailouts are another story, but whatever president you elected would have done that because it was neccesary and it appears to be working.


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