Barack Obama: Venture Capital Czar

Barack Obama: Venture Capital Czar

A new article in BusinessWeek hails Obama as the new Venture Capitalist-in-Chief.

Oh goodie.

Meet the country’s venture capitalist-in-chief, President Barack Obama. By the end of 2011, the White House plans to channel more than $50 billion to thousands of clean-technology companies through tax credits, low-interest guaranteed loans, and grants. Add in money for a “smart grid,” research, and consumer tax breaks, such as the $7,500 credit for buying an electric car, and the commitment rises to $69 billion.

Obscured by the epic political battles over health care and financial regulation, Obama has turned the government into the chief financier of a manufacturing base for clean-energy technology. He envisions thriving new industries putting Americans to work churning out green products such as high-performance batteries, electric cars, low-energy lights, super-efficient air conditioners, wind turbines, and solar panels.

Great, because central planning is always the recipe for long-term economic success…right?

  • chuck in st paul

    Oilbama is a dangerous person. It is like having a 12 year old in the White House – full of ideas, most of which have been proven to be stupid or dangerous over and over again in the past.

    The whole naive idea that His Imperial Majesty Sir Golfsalot is smarter than several billion inhabitants of planet Earth working in concert shows his narcisistic mindset. In addition, I do not see anywhere in the US Constitution where the government is tasked with choosing winners and losers in the marketplace.

About Author

Brett

Hi, I’m Brett Owens – and I’m a financial junkie. My “problem” started incollege, when I got a little dose of the stock market – man, was I hooked…in no time, I was reading the Wall Street Journal religously.

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