CBO considers the risk of default on such a loan guarantee to be very high-well above 50 percent. The key factor accounting for this risk is that we expect that the plant would be uneconomic to operate because of its high construction costs, relative to other electricity generation sources.
Tripling of the loan guarantees is also dubious political strategy because it provides huge subsidies for nuclear power without securing the support of pro-nuclear senators for comprehensive, bipartisan global warming pollution reduction legislation...
During this time of trillion dollar deficits, this is a very imprudent use of taxpayers’ money.
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