More Evidence of a Failed Jobs Policy

Statement

Today, as the President announced that he will finally reveal his jobs plan next week, Solyndra, a company he touted a year ago as a green jobs success story, announced it is suspending operations and plans to file Chapter 11 bankruptcy. The company employs over 1,000 workers.

Solyndra's $535 million loan was the highly celebrated first stimulus loan guarantee awarded by the Department of Energy and now is the most recent example of the Administration's failed economic policy.

The President's stimulus plan that was supposed to keep unemployment below 8 percent has resulted in a sustained unemployment rate well over 9 percent. His economic policies which are heavy on spending have not worked, but he is proposing more of the same. House Republicans have passed many bills to promote job creation, but the President and Senate Democrats refuse to address this legislation and change course, even when the examples they previously cited as successes have been shown to have failed.

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