I don't necessarily disagree with your assessment of our Congress, but at the same time, surely there is more to be gained here than simply getting our money back. Isn't the potential for technological advancement worthwhile? Even if they never release a truly inexpensive mainstream electric car, the odds are good that they will produce technology which can be improved upon by others, and in that case, we do come out ahead, if not financially, then socially.
There is a lot of things the government spends money on that I feel are completely stupid. Since we live in a democracy, the spending decisions are made jointly through the democratic process utilizing elected leaders, etc., and it is very unlikely any one person is going to agree with every spending decision.
That said, guaranteeing a loan to Tesla is about the best thing I can imagine taxpayer funds being used for. They are shipping electric cars now that people are raving about, and expect to be cash flow positive soon.
Electric and hybrid propulsion is the future, and if we can get their faster with some loan guarantees, why not?
