Tags: priebus | obama | campaign | donors

Priebus: Obama Steers Government Money to Campaign Donors

Friday, 27 Jul 2012 09:43 AM

By Newsmax Wires

President Barack Obama has repaid many of his campaign donors with a flood of government money, says Reince Priebus, chairman of the Republican National Committee.

“Obama, since taking office, has showered his donors and allies with billions in federal dollars,” Priebus writes on Politico. “A steady stream of grants and loans flows from the administration to Obama’s political cronies. And taxpayers foot the bill.”

Energy investor Steve Westly represents one example, he says. Westly raised more than $500,000 for Obama’s 2008 campaign and later was named to the energy secretary’s advisory board. He chaired a subcommittee on energy efficient building materials.

“Conveniently, Westly’s investment firm invested heavily in firms that specialized in such products,” Priebus writes. “Overall, Westly’s firms received more than $500 million from the Obama administration. That’s an awful lot of conflicts of interest for just one man.”

It’s not just Westly. “A 2011 investigation found that nearly 200 of Obama’s biggest political donors received jobs, advisory posts or federal contracts,” Priebus writes. The Washington Post wrote earlier this year that $3.9 billion in federal grants and financing has gone to 21 companies backed by firms with connections to five Obama administration officials and advisers.

Solyndra, the solar panel manufacturer that received a $535 million loan guarantee in 2010 before going bankrupt, is another example, Priebus writes. It was “backed by an Obama donor and fundraiser,” he says.

“Crony capitalism is common practice in the Obama administration . . . Obama treats taxpayer money as his personal piggy bank — using government checks as multimillion-dollar thank you notes to campaign donors. Taxpayers get nothing in return.”




© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Donald Trump: 'I Will Take Full Credit' for Romney Dropping Out

Friday, 30 Jan 2015 22:11 PM

A week ago, just before and during the Iowa Freedom Summit, real estate mogul Donald Trump was quick to call out two-tim . . .

Jim Webb: Dems Must Rediscover 'White Working People'

Friday, 30 Jan 2015 21:47 PM

Democrats have lost touch with working-class whites who mattered to presidents such as Franklin Roosevelt and Harry Trum . . .

GOP Leaders Discuss 'What's Next?' After Romney Exit

Friday, 30 Jan 2015 20:35 PM

Almost to a person, state Republican chairmen and members of the Republican National Committee voiced relief at Mitt Rom . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved