Talk about clean-energy boondoggles. Here's the latest one from the Obama administration.
Electric hybrid car maker Fisker Automotive Inc. is now on the verge of bankruptcy and owes the U.S. government more than $180 million - which would be the biggest waste of taxpayer money since the Solyndra fiasco.
According to PrivCo, a New York-based researcher, Fisker has not produced a car since last summer and has gone through more than $1.3 billion in private investment capital and government loans.
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So many federal agencies are duplicating one another's efforts in so many different areas that the billions lost to such wasteful government spending is impossible to calculate.
A recent report from the nonpartisan Government Accountability Office uncovered 162 areas of duplicate spending, which at minimum wastes tens of billions of dollars every year.
Sen. Tom Coburn, R-OK, a well-known hawk on wasteful government spending, estimates that the duplication cited in the GAO report squanders between $100 billion and $200 billion a year.
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