Friday, January 30, 2009

Multibillion Dollar Bailout for Nuclear Industry Snuck into Senate Stimulus Proposal

Nuclear lobbyists' political contributions appeared to yield dividends Jan. 28 when the Senate Appropriations Committee stealthily added a preemptive, up-to-$50-billion bailout for the nuclear industry to its economic stimulus proposal.

Fortunately this bailout -- which comes in the form of risky, taxpayer-backed loan guarantees that can be used for reactor construction -- isn’t in the version of the stimulus package that passed the House of Representatives. This means we will have a chance to block this bailout when the two houses resolve their differences.

We all know nuclear reactors are unsafe, with dangerous, radioactive waste piling up around the country, but there’s another important reason to oppose these loan guarantees. The Congressional Budget Office has estimated that nuclear companies are likely to default on loans more than 50 percent of the time, sticking us -- the taxpayers -- with the bill.

Help us send this message to Congress: There are many important investments that should be made in an economic stimulus package, but a massive bailout for the nuclear industry isn’t one of them! CLICK.HERE.NOW

1 comment:

Dr. Zaius said...

Oh, crap.

As Jim Hightower explains it, is that “the wealthiest 1 percent of Americans possess more net worth today than the bottom 90 percent of us combined. Worse, these privileged few and their political henchmen have structured a new economic ‘normal’ of long-term joblessness, low wages, no benefits or worker rights, miserly public services, and a steadily widening chasm between the rich and the rest of us.” We must restore sanity to this nation.