Taxpayer-Backed Electric Car Company Closes U.S. Factory

Government watchdog recommends DOE wind down controversial program
President Barack Obama  tours Smith Electric Vehicles in Kansas City, Mo. / AP

Critics of Democrats calling for additional subsidies for electric vehicles are pointing to the financial troubles of one stimulus-backed car producer that just announced it is closing its U.S. plant.

Obama Budget Will Add $8.3 Trillion to Debt

Budget would increase taxes by $1.8 trillion

President Barack Obama’s budget for fiscal year 2015 will add $8.3 trillion to the debt and hike taxes by $1.8 trillion, according to a joint analysis by Republicans on the Senate and House Budget Committees.