Update: The Heritage Foundation is not impressed:
Expansive loan guarantee programs are wrought with problems. At a minimum, they create taxpayer liabilities, give recipients preferential treatment, and distort capital markets. Further, depending on how they are structured, they can remove incentives to decrease costs, stifle innovation, suppress private-sector financing solutions, perpetuate regulatory inefficiency, and encourage government dependence.
Still, this might be the best we can hope for from this administration. Shouldn't we take what we can get?
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