McCain Wants To Spend 1/3rd of a Trillion Dollars on Nuclear Plants


From Bloomberg

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.

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  • David Corn

    David Corn is Mother Jones' Washington bureau chief and an on-air analyst for MSNBC. He is the co-author (with Michael Isikoff) of Russian Roulette: The Inside Story of Putin’s War on America and the Election of Donald Trump. He is the author of three New York Times bestsellers, Showdown, Hubris (with Isikoff), and The Lies of George W. Bush, as well as the e-book, 47 Percent: Uncovering the Romney Video that Rocked the 2012 Election. For more of his stories, click here. He's also on Twitter and Facebook.