Obama says auto bailouts have paid off

Reuters ^

[Sub-Driver]

Obama says auto bailouts have paid off Photo 6:09am EDT

By Steve Holland

ASHEVILLE, North Carolina (Reuters) - President Barack Obama said on Saturday taxpayer-funded bailouts of the auto industry that he approved had paid off, in what amounted to a rejection of conservative arguments against such government help.

In his weekly radio and Web address, Obama kept up the pressure for an overhaul of U.S. financial regulations, saying the promising news from the auto industry had not reduced the need for Wall Street changes.

Government bailouts of Wall Street, begun by then-President George W. Bush in 2008 and continued by Obama, have come under heavy criticism from conservatives who feel the government is spending too much money and that big firms should be allowed to fail.

[Quickgun]

Yep, Lots of Zero’s cronies have been paid off, We, of course have been RIPPED off

[curth]

Apparently Obama lied again. GM didn’t pay anything back.

Outrage– GM Paid Back Bailout Money By Dipping Into Separate Bailout Pot (Video)

http://gatewaypundit.firstthings.com/2010/04/gm-paid-back-bailout-money-by-dipping-into-separate-bailout-pot-video/

[PGalt]

TOTUS is a POS liar.

[Hoodat]

President Barack Obama said on Saturday taxpayer-funded bailouts of the auto industry that he approved had paid off

The people who originally loaned money to Chrysler got screwed. The contract or bond that they entered with that company was effectively declared null and void by this Administration. The written word no longer holds any meaning. We are now a nation which only honors graft and pull. When the looters have bled GM dry, who will they go after next? Oh well, who is John Galt?

[Condor51]

Obama says auto bailouts have paid off

Oh yeah. Well Barry, I say: Space Aliens visit Earth regularly, Ghosts do exist, and Elvis faked his own death.

And the odd thing is Barry, my statement is more believable.
So stuff it you commieRAT toad.

[TalBlack]

This push to give the impression that GM has paid it all off and is back, suggests to me that a fair percentage of the American public actually was staying away from “Government Motors”.

[LibLieSlayer]

EVERYTHING obama says is a LIE.

LLS

[PSYCHO-FREEP]

Gummint Motors sales are up because the Gummint has subsidized GMAC and is giving out low interest loans for 40 and 50 thousand dollar cars, putting all the risk on the taxpayers back.

Just like Fanny May and Freddie Mack, when the economy takes it's real hit, (Much, much bigger than the one we are now in.) there will not only be massive real estate collapses, there will be automobile foreclosures.

[taildragger]

Curth, thanks for the video link, it is so telling.

Think about this for a moment.

If GM goes public and in our wildest dreams becomes an earnings machine, how long is it going to take to legidimately take to pay back the 27 billion in pension liabilities and also what they owe to uncle sugar? The total nut is what 43 billion?

Even if their earnings are 2 to 4 billion a year, that would take 10 to 20 years and literally leave no monies for R & D and product development.

This is British Leyland on Steriods, I cannot fathom how this business model transitions from the quasi-moto-fedzilla monster to an IPO to a money making company again. I cannot invision how to make this work, can anyone tell me how?

[PSYCHO-FREEP]

Just ask MaObama, he can spin any lie into a reality.

[MamaTexan]

President Barack Obama said on Saturday taxpayer-funded bailouts of the auto industry that he approved had paid off, in what amounted to a rejection of conservative arguments against such government help.

Since you've spent more than all the previous pResidents combined....

You have a LOT more to pay off than auto-industry bailouts, Bucky!

[Chode]

yeah... he robbed Peter to pay Paul!!!

[Recovering Hermit]

When can I expect my check?

[kittymyrib]

Sheesh...BO must think we just fell off the turnip truck.

Government Motors paying off their bailout with money borrowed from the taxpayers is NOT fooling anybody, BO.
GM has not made a profit yet, while Ford is doing fine without getting taxpayer funding.

[kittymyrib]

Sheesh...BO must think we just fell off the turnip truck.

Government Motors paying off their bailout with money borrowed from the taxpayers is NOT fooling anybody, BO.
GM has not made a profit yet, while Ford is doing fine without getting taxpayer funding.

[Canedawg]

[maggief]

Out and out thievery.

Bond holders losses run from 64-97%.

What happens when those “funds” dry up? 401K’s???

[stephenjohnbanker]

“TOTUS is a POS liar.”

With no competition

GM essentially paid the interest on 52 billion

There is also a 27 billion unfunded pension

Result: Taxpayers take it in the a$$ for $79,000,000,000.00.

[Kenny]

I have to think it’s illegal somewhere in the endless laws these clowns have written to have the gov’t subsidize a private company (GM) that’s competing with other companies not receiving gov’t handouts(Ford)

[jetson]

I was fishing yesterday along with others who are still out of work and have not seen help from BOzo’s bailout. I was talking to a grocery guy who has worked grocery stores for years. He now works in a high end chain. He said things are the sh*ts and going to get worse. He was saying grocery outlets do amazing projection studies on everything from sea food to bread. They have to be able to project supply as well as sales or they are down the road. Well he said the projections for people buying looks disastrous. He has never seen it this bad in thirty years.