National Center For Public Policy: Obama Squandered Billions By Rewarding His Political Backers.

Allegations that White House aides attempted to pressure an Air Force general to alter his congressional testimony in order to aid a firm controlled by a prominent Democratic donor lent new momentum Friday to GOP complaints that “crony capitalism” contributed to the Obama stimulus programs’ failure to revive the economy.

Instead of the money being spent wisely, they suggest, billions were squandered by an administration that believed it could reward its political backers without impeding the economic recovery.

They point to the loss of over 1,100 jobs when the now-defunct solar-panel firm Solyndra, which received over half a billion dollars in federal stimulus dollars, closed its doors.

Crony capitalism was responsible for the failure of the stimulus — about $90 billion went to clean energy,” Tom Borelli, a PhD and director of the National Center for Public Policy Research’s Free Enterprise Project, told Newsmax on Friday.

News that four-star Gen. William Shelton was urged to change his testimony to make it more favorable to a firm with close ties to the White House adds to the narrative of an administration singularly focused on helping its political friends.

Those allegations come in the same week as a congressional probe continued into loan guarantees given to Solyndra over the objections of Office and Management and Budget staff who warned the company had yet to demonstrate a viable business model.

President Barack Obama later hailed the Solyndra initiative as a model example of how green-energy jobs could help bail out the U.S. economy.

Read more on Newsmax.comObama’s ‘Crony-Gate’ Scandal Widens — Billions Now Under Scrutiny

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