Friday, October 5, 2012

FactCheck.org : Romney’s Clean Energy Whoppers

 

Mitt Romney made numerous bogus claims in the Oct. 3 debate about the $90 billion in grants, guaranteed loans and tax breaks for energy projects in the stimulus bill:

  • Romney falsely claimed “about half” of the clean-energy companies that received U.S.-backed loans “have gone out of business.” But 26 companies received loan guarantees under a loan program cited by Romney, and three of those have filed for bankruptcy. The three firms were approved for about 6 percent of the loan guarantees.
  • Romney incorrectly claimed the “$90 billion in breaks to the green energy world” was provided “in one year.” It was two.
  • He stated at one point that Obama put $90 billion “into solar and wind.” But only $21 billion went for renewable energy projects, “such as the installation of wind turbines and solar panels,” according to a White House document cited by the Romney campaign. The spending also included $18 billion for transit projects and $10 billion to upgrade the nation’s electrical grid.
  • He falsely claimed the $90 billion was equal to “about 50 years’ worth of what oil and gas receives” in tax breaks, which he estimated at $2.8 billion. By his own figures, it would have been 32 years’ worth. But it’s even less than that. The administration estimates that eliminating oil and gas tax preferences would raise about $3.9 billion a year (23 years’ worth). The industry itself says the administration would increase its taxes by $8.5 billion a year (10.5 years’ worth).
  • He falsely claimed Obama “put $90 billion into green jobs … that would have hired 2 million teachers.” But that $90 billion included loan guarantees, not just grant money, and the government can’t hire teachers with loan guarantees.

We asked the Romney campaign about the $90 billion, and it referred us to a July 14, 2010, administration report on the economic impact of the stimulus. But that report said only about $21 billion went “for Renewable Generation, such as the installation of wind turbines and solar panels.”

The seven other sub-categories of “clean-energy” projects identified in the report were:

  • $29 billion for energy efficiency, including $5 billion for the weatherization of low-income homes;
  • $10 billion to modernize the nation’s electric grid;
  • $6 billion for domestic manufacturing of advanced batteries and other components of alternative vehicles and fuel technology;
  • $18 billion for transit projects, including high-speed rail;
  • $3 billion for researching and developing clean-coal technology;
  • $3 billion for job training;
  • $2 billion in manufacturing tax credits.

So, clearly, the $90 billion wasn’t just for wind and solar projects.

Click on the following for more detailsFactCheck.org : Romney’s Clean Energy Whoppers

Boone County absentee ballots available - Rockford, IL - Rockford Register Star

 

Absentee ballots are now available through Nov. 1 at the Boone County Clerk’s Office and on its website.

Absentee voting begins Oct. 15. Early voting begins Oct. 22 at the Boone County Clerk’s Office, 1212 Logan Ave., in Belvidere. The office is open from 8:30 a.m. to 5 p.m., Monday through Friday.

Residents must register to vote by Oct. 9.

Boone County absentee ballots available - Rockford, IL - Rockford Register Star

Unmasking the most influential billionaire in U.S. politics - latimes.com

Peterson's influence in national politics stems largely from his ability to make his interests appear eclectic and nonpartisan.

He isn't content merely to express concern about the federal deficit. His particular targets are Social Security, Medicare and Medicaid, which he calls "entitlement" programs and which he wants to cut back in a manner that would strike deeply at the middle class.

Many beneficiaries of Peterson grants are, like the high school syllabus, initiatives sounding the alarm on the federal deficit. And although everyone agrees that too much borrowing can be bad for the country, the real question is what to do about it.

Unmasking the most influential billionaire in U.S. politics - latimes.com

U.S. economy adds 114,000 jobs in September - latimes.com

 

The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election.

Click on the following for more detailsU.S. economy adds 114,000 jobs in September - latimes.com

Were there problems with the accounting at Circuit Court?

The audit for Boone County’s Clerk of the Circuit Court is available on line at:  http://www.boonecountyil.org/sites/default/files/circlerk%20audit%202011.pdf

The following Deficiency was reported. This was obtained by a Freedom of Information Act request.

Click on the photocopy to enlarge:

circuit court FOIA 1 of 5

circuit court FOIA 2 of 5