Powers question please?

  1. You have chosen to ignore posts from 1984-Redux. Show 1984-Redux's posts

    Powers question please?

    In reading the below I wonder under what umbrella the president has executive powers to grant loans. Thought all money (budgets, etc) had to go through Congress. Where does this money come from. how much more is in the pool?

    I have no issue with the intent or goal.. but question the process.

    Washington (CNN) -- President Obama announced $8.3 billion in loan guarantees Tuesday for two nuclear reactors to be built in Burke County, Georgia.

    No new nuclear power plants have been built in the United States in three decades.

    The new reactors are to be part of an expansion of an existing nuclear facility near Augusta, Georgia, operated by Atlanta-based Southern Co.

    The loan guarantees will help create 3,500 on-site construction jobs and 850 permanent operations jobs, administration officials claimed. The reactors will help provide power to over 550,000 homes and 1.4 million people, it said.

    "This is only the beginning," Obama said during a visit to an International Brotherhood of Electrical Workers training facility in Lanham, Maryland. "We'll continue to provide financing for clean energy projects ... across America."

    The president acknowledged that construction of new nuclear facilities will meet with some political resistance. Nuclear development has traditionally been opposed by more progressive elements of the Democratic Party.

    "The fact is, even though we have not broken ground on a new nuclear plant in nearly 30 years, nuclear energy remains our largest source of fuel that produces no carbon emissions," Obama said.

    "To meet our growing energy needs and prevent the worst consequences of climate change, we'll need to increase our supply of nuclear power. It's that simple."

    At the same time, the president argued, traditional Republican proponents of nuclear power should acknowledge that comprehensive energy legislation is needed to help provide incentives making clean energy more profitable.

    Any new nuclear facilities, he promised, will "be held to the highest and strictest safety standards."

    Obama's proposed fiscal year 2011 budget triples loan guarantees for nuclear power plants to over $54 billion, the White House noted.

     
  2. You have chosen to ignore posts from wraughn. Show wraughn's posts

    Re: Powers question please?

    Everybody is saying "Where are the jobs?"  Especially the TPers.  Well you can't create jobs out of thin air.  It takes loans or financial backing.  At least these loans will go to benefit American families.  I hate to think our country could be this desparate, but we have to suk it up.
     
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  4. You have chosen to ignore posts from shumirules. Show shumirules's posts

    Re: Powers question please?

    Obama is going to loan this money to build 2 nuke power plants, the envrio-nuts will have this in court for 20 years so I wont be holding my breath on the jobs this will add.

    Newtster I am starting to think Obama might actaully open Yucca since he clearly hates Las Vegas.
     
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    Re: Powers question please?

    In Response to Re: Powers question please?:
    Idiot Obama --- closes Yucca Mountain radioactive waste disposal site then approves construction of two nukes. I hope someone can tell me I am misinformed on that.
    Posted by Newtster


    I think you are correct. I don't know if it was permanent or temporary.
    I think one of the reasons he cited was security. With all the terrorist activity going on he didn't think it was feasible from a security standpoint to have the nuke plants around the country trucking nuke waste through cities and towns. That would just be a radioactive bomb waiting to happen, everywhere.
     
  6. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Powers question please?

    In reading the below I wonder under what umbrella the president has executive powers to grant loans. Thought all money (budgets, etc) had to go through Congress. Where does this money come from. how much more is in the pool?

    I have no issue with the intent or goal.. but question the process.

    ------------------------------------------------------------------------------

    Congress appropriates money for the gov't including the executive branch.
    Once those budgets are approved the president has the discretion on how to spend that money, unless it was appropriated for a specific purpose. Each department gets their budget from Congress. Many departments such as Small Business Admin, Dept. of Agriculture, Dept. of Energy have loan programs for businesses. I would guess that these loans are from a Dept of Energy loan program to help private businesses modernize or update operations.
     
  7. You have chosen to ignore posts from wraughn. Show wraughn's posts

    Re: Powers question please?

    In Response to Re: Powers question please?:
    In reading the below I wonder under what umbrella the president has executive powers to grant loans. Thought all money (budgets, etc) had to go through Congress. Where does this money come from. how much more is in the pool? I have no issue with the intent or goal.. but question the process. ------------------------------------------------------------------------------ Congress appropriates money for the gov't including the executive branch. Once those budgets are approved the president has the discretion on how to spend that money, unless it was appropriated for a specific purpose. Each department gets their budget from Congress. Many departments such as Small Business Admin, Dept. of Agriculture, Dept. of Energy have loan programs for businesses. I would guess that these loans are from a Dept of Energy loan program to help private businesses modernize or update operations.
    Posted by 12angrymen


    I'm impressed.  It's not often that you see an intelligent question answered with an intelligent response on these boards.  Where's the insulting raging anger? 
     
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  9. You have chosen to ignore posts from 1984-Redux. Show 1984-Redux's posts

    Re: Powers question please?

    Are terms of such a loan public record? I assume there is a term, payments, interest...
    Can such a loan be... forgotten?
     
  10. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Powers question please?

    In Response to Re: Powers question please?:
    Are terms of such a loan public record? I assume there is a term, payments, interest... Can such a loan be... forgotten?
    Posted by 1984-Redux


    From what I remember depts like Energy only guarantee or provide downpayments for loans through private lenders. So in essence if the loan is 8 billion the gov't might put down 1 billion as a down payment in the recipients name so they can secure the loan. There are two reasons for doing it this way. First it stretches the gov't money further, 8 billion can secure 8, eight billion dollar loans rather that one 8 billion loan. Second it gets the wheels of private finance moving. They get a gov't backing on the loan so there's little exposure and they get the profits from making the loans.
    As far as forgiving the loan I don't know. If they do I would imagine they could only forgive the 1 billion they put in. Just a guess.
     
  11. You have chosen to ignore posts from 1984-Redux. Show 1984-Redux's posts

    Re: Powers question please?

    Great info. Mucho gracias gringo !!
     
  12. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Powers question please?

    In Response to Re: Powers question please?:
    Great info. Mucho gracias gringo !!
    Posted by 1984-Redux


    De nada
     
  13. You have chosen to ignore posts from 12angrymen. Show 12angrymen's posts

    Re: Powers question please?

    In Response to Re: Powers question please?:
    "The Bush-Cheney administration's promotion of nuclear energy is distressingly short-sighted and potentially dangerous," said Kyle Rabin, Nuclear Energy Policy Project Director for the Albany-based Environmental Advocates. "It's all about denial and fantasy: Denying the nuclear meltdowns and near disasters; fantasizing that Yucca Mountain will solve the country's radioactive waste problems. Nuclear power must be phased out and elsewhere in the nation. The environmental community will fight any attempts to build new nukes and to breathe new life into existing plants . Our state political leaders and policymakers must also have the courage to stand up to the nuclear industry, whose time has come and gone." "Nuclear power can neither address our short-term energy problems, nor can it effectively combat global climate change," said Michael Mariotte, executive director of Nuclear Information and Resource Service. "We need to implement cost-effective energy efficiency solutions and to invest in the technologies of the 21st century. The Bush-Cheney administration would return us to the 1960's and 70's and the time of behemoth nuclear power and coal plants. Those policies failed then, and they will fail now. We can do better." Odd how these people seem to have disappeared.
    Posted by GreginMeffa


    I think they're just getting marginalized by the main stream media.
    Never underestimate the MSM to capitalize on a populist trend.
     

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