Inflation Reduction Act= Green New Deal, Infrastructure Investment, Chips & Science Act, more money but less growth

The if you count the Inflation Reduction Act, which was the Green New Deal, the Infrastructure Investment and Jobs Act, also part of the Green New Deal, the Chips and Science Act. your department got $99 billion in new appropriations, $30.5 billion in new authorizations and loan authority of over $400 billion.

How much of that $400 billion authority to loan money to the Department of Energy use? Nearly $100 billion, nearly $100 billion? Thank you for making the point that more money, as is shown in your graph and the numbers you quoted, and more people that headcount in the department grew over 20% during those four years.

Our electricity output of the nation as a whole grew about 2%, and the cost per unit of electricity grew 28%. Well, here’s what we didn’t deliver results for all that.

The inspector general called many of these wrote moons, quote, high risk, And, he said that these, loans were, designed to promote innovation by financing projects, find acceptable by private equity investors. What does that mean? That means that the private sector wouldn’t get near these projects with a ten foot bolt, would they? Only government would put up the money, wouldn’t. That’s correct. For example, he found that DOJ, the OIE, under your predecessor, announced that it was going to make up a $400 million loan.

Actually, it wasn’t loan. It was a grant to two companies. They announced it. And then somebody pointed out to them that they were Chinese companies.

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More money but less growth, Inflation Reduction Act= Green New Deal, Infrastructure, high risk loan