The president's address on jobs last night included some soaring phrases, but it left out one crucial word that epitomizes his approach to economics: Solyndra.
Fourteen months ago, the president was using his sonorous baritone to deliver soaring rhetoric about how his policies helped launch that now-broke company, which made cylindrical solar panels. The administration fast-tracked Solyndra's loan guarantee through the American Recovery and Reinvestment Act — i.e. the stimulus — perhaps because Solyndra's principal backers just happened to have donated huge sums to the Obama election campaign. Washington guaranteed more than a half-billion in loans to Solyndra on the promise of 4,000 jobs.
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