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Obama Took Credit for Solyndra in 2010

President Obama tried to blame congress for the failure of Solar Panel firm Solyndra on his four-state energy tour this week. But the president took credit for the $500 million loan to the program in 2010.

By Washington Free Beacon Staff··
Obama Took Credit for  Solyndra in 2010

President Obama tried to blame Congress for the failure of Solar Panel firm Solyndra on his four-state energy tour this week.

But the president took credit for the $500 million loan to the program in 2010.

"We can see positive impacts right here at Solyndra," he said. "Through the recovery act, this company received a loan to expand its operations. This new factory is the result of those loans."

In a radio interview on Tuesday, the president blamed both parties in congress for the loan program.

""Understand, this was not our program per se," Obama said. "Congress–Democrats and Republicans–put together a loan guarantee program … to help start-up companies get to scale."

Though the loan program was a part of the nearly $1 trillion stimulus program congress passed, the administration helped to restructure the loan to the company’s advantage. The chief investor in Solyndra, George Kaiser, raised between $500,000 and $1 million for Obama’s 2008 campaign.

Both speeches are now featured in a new Youtube ad put out by the Republican National Committee on Thursday.