"As vice president, Joe Biden oversaw a “green jobs” stimulus package that produced notable failures. This time, with more money and more demand for clean technology, will be different, Democrats say."
"WASHINGTON — In September 2009, then-Vice President Joseph R. Biden Jr. traveled to a defunct General Motors plant near his hometown, Wilmington, Del., to announce a $528.7 million government loan for Fisker Automotive to make hybrid and electric vehicles.
The funding for Fisker, a small luxury automaker, came out of the American Recovery and Reinvestment Act, a $787 billion economic stimulus plan secured by President Barack Obama to lift the nation out of the Great Recession, in part by creating “green jobs” with $90 billion for wind and solar energy, a “smart” power grid, weatherized homes and the electric vehicle industry.
Fisker went bankrupt in 2013 before the Wilmington factory produced a single car. Mr. Biden also personally announced a $535 million loan guarantee for Solyndra, a California solar panel company that then went bankrupt, leaving taxpayers on the hook. An advanced battery maker called A123 Systems, which Mr. Obama extolled as part of a vanguard of a new American electric car industry, received a $249 million stimulus grant, then filed for bankruptcy in 2012, the vanguard that wasn’t."