The heyday of President Joe Biden's $1 trillion "Infrastructure Investment and Jobs Act" is now over.
The bill enabled federal subsidies for the purchase of certain "renewable" energy products, in what some called an energy transition, while others called it the biggest wealth transfer in American history.
But now even General Motors admits it's having to take a $6 billion loss for 2025 because sales of electric vehicles (EVs) have slowed to a trickle after federal payments to help consumers buy EVs ended last October.
One blogger says "this is a mind-blowing number."
And Tesla has had two years of losses and declining sales, so now the company is dealing with the public relations fallout from having laid off 22-percent of its workforce over the past year or so.
YouTube podcaster Noah DB says he finds it ironic that the layoffs coincide with recent news that founder Elon Musk won a court case to make sure he'll be getting a $56 billion payout from Tesla.
"This is in the form of stocks and other things, it's not just cash that lands in his bank account but at the end of the day it's the same thing, it's money, it's power," he says.