McCain Wants To Spend 1/3rd of a Trillion Dollars on Nuclear Plants
| Thu Sep. 11, 2008 12:17 PM EDT
John McCain's plan to revive the U.S. nuclear power industry with 45 new reactors may cost $315 billion, with taxpayers bearing much of the financial risk.
...Taxpayers are on the hook only if borrowers default. A 2003 Congressional Budget Office report said the default rate on nuclear construction debts might be as high as 50 percent, in part because of the projects' high costs.
So much for Mr. I-Watch-Out-for-the-Taxpayers. Read the rest here.