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?