$14 Trillion U.S. Debt Leaves No Room for Treasury-Backed Loan Guarantees for Energy Projects

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Taxpayers for Common Sense joined a number of taxpayer and conservative groups on a teleconference with reporters to discuss the dangers taxpayers face from efforts to expand risky energy subsidies.

With Congress poised to move forward on more taxpayer-backed loan guarantees for nuclear, wind, solar, “clean coal” and other energy sources, leading U.S. taxpayer and conservative groups cautioned today that America can ill afford such subsidies in the face of a $1.65 trillion deficit and a $14 trillion national debt.

President Obama has requested a $36 billion increase for the Title XVII Loan Guarantee program. Appropriators will soon decide whether to increase its funding. The Senate is considering the establishment of a new financing entity, known as the Clean Energy Deployment Administration (CEDA) that would subsume Title XVII and expand energy loan guarantees.

Taxpayers for Common Sense is a 501(c)(3) non-partisan budget watchdog serving as an independent voice for American taxpayers. Our mission is to achieve a government that spends taxpayer dollars responsibly and operates within its means. We work with individuals, policymakers, and the media to increase transparency, expose and eliminate wasteful and corrupt subsidies, earmarks, and corporate welfare, and hold decision makers accountable.

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