Tesla model named Motor Car of Year after DOE tweaks $465 million taxpayer loan

Obama's Energy Dept. currently has an initiative to make electric vehicles more affordable. Taxpayers have been forced to fund commercial endeavors like Tesla. (Image: DOE, funded by the U.S. taxpayer)Tesla Model S got tapped for Motor Car of the Year, a bright moment no doubt for a company beleaguered to the point where CEO Elon Musk defended his company’s financials in a post at the Tesla enthusiasts blog.

The U.S. Dept. of Energy awarded Tesla a $465 million loan funded by taxpayers. Fiscal hawk Sen. Jim DeMint (R-S.C.) criticized DOE in a late September post at his own blog, saying the amended loan included “a postponement of the $14.6 million payment due in October.”

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Is new $1.2 billion DOE loan another 'good bet' like Solyndra?

Solar Panels (from US Dept. of Energy)President Barack Obama chatted with George Stephanopoulos (ABC) on Monday. Obama responded to a couple questions on the issue of Solyndra, the solar company his administration loaned $528 million.

Obama said, "Hindsight is always 20/20...It went through the regular review process and people felt this was a good bet."

So good, in fact, the administration is lending more for projects like Solyndra.

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