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Obama's Giveaway to the Communists
By Phyllis Schalfly
January 15, 2013
The China problem is not just that China is raking in trillions of dollars because of Obama's spending and borrowing binges, and it's not just that government policies encourage well-paying U.S. manufacturing jobs to move overseas. An even bigger problem is that the Obama administration is about to give Communist China some of our most precious and up-to-date military technology. This particular chicanery started when the Obama administration foolishly tried to use taxpayers' money to force green energy to replace fossil fuels. But green energy can't compete in the free market because it's so much more expensive to produce.
Obama gave a half-billion U.S. tax dollars to Solyndra to subsidize making solar panels, yet the company promptly went bankrupt. Then Obama awarded a grant of $250 million of Stimulus money to a firm called A123 to make batteries for electric cars, which also went bankrupt and now is trying to pay off its investors by auctioning the company.
The high bidder at $256 million in a December auction was the Wanxiang Group, which has close ties to Communist China's government. Its chief executive is one of the wealthiest men in China, a prominent figure in the Chinese Communist Party.
This sale is dangerous to U.S. security because it involves the transfer of advanced battery technology using lithium iron phosphate, which produces longer life, lighter weight, higher power and more stable batteries that can operate in both very low and very high temperatures. In China's hands, the new A123 technology will threaten U.S. electrical power and communications grids.
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Obama's Giveaway to the Communists - Phyllis Schlafly - Page 1