The disaster the United States is currently facing is well illustrated by the recent awarding of the $10 million “L Prize” to Philips Corporation. Philips earned this “L Prize” by producing an LED light bulb that will cost consumers a whopping $50. each to buy.
In 2007, Republican George W. Bush signed the “L Prize” legislation (i.e., the CLEAN Energy Act of 2007) into law. He did this because he ignorantly thought that the bill’s hundreds of government interferences in the free market did no harm to the economy. Republican ignorance of basic economics is part of the current disaster.
The Democratic Obama administration awarded the prize money because their Marxist ideology believes in the concept of “Crony Statism.” Crony Statism calls for revolutionary “redistribution of wealth” from taxpayers to “GREEN” Agenda buddies of the administration like GE, Solyndra, Government Motors, etc. The Marxist Democrats’ commitment to destroying capitalism and replacing it with socialist statism is another part of the current disaster.
What the United States desperately needs is a Congress smart enough to send to the President’s desk only bills REPEALING their prior interference with the free market.
P.S. -- The “L Prize” is just one of the “Bright Tomorrow Lighting Prizes” built into the CLEAN Energy Act of 2007.