Posted on 06/07/2011 9:52:28 AM PDT by SeekAndFind
President Obama spent last week talking about the success of the auto bailout, but his conclusions about its success may be a bit misleading, according to the Washington Post's Glenn Kessler.
The title of the piece is: President Obama’s phony accounting on the auto industry bailout.
Kessler spells out four examples of things President Obama has said since June 4 on the topic of the auto bailout that aren't completely correct.
* Chrysler has repaid every dime to the government: The U.S. government only got 90% back of their combined loans to Chrysler, made during both the Bush and Obama presidencies.
* Auto industries adding jobs at fastest rate since 1990s: Bureau of Labor statistics don't back up the government's claims (they say data isn't public for three big auto manufacturers).
* GM will bring all workers back lost during recession: GM announced workforce cuts of 68,000 in 2006. It cut 9,600 workers in Q4 2008. 8,600 of those are now back at work, and the others will soon, according to GM.
* Washington thought we should "do nothing" to protect Chrysler and GM: Not so clear cut; some questioned Obama's methods, but did not oppose support altogether.
(Excerpt) Read more at businessinsider.com ...
RACISTS!
It must be Bush’s fault that the Washington Compost is doing this.
Not one word, from anyone, about the bondholders that got raped in the deal - much less about ‘making them whole’....
yEP....our Obama voting, retired “friends” got royally screwed in GM bonds....we’ll see how they vote NEXT year...
“Not one word, from anyone, about the bondholders that got raped in the deal - much less about ‘making them whole’....”
Of course not. As long as the union workers get theirs.
I can’t in good conscience knowingly buy a product that is made by American union workers, and will make considerable efforts to avoid this.
“Not one word, from anyone, about the bondholders that got raped in the deal - much less about ‘making them whole’....”
Of course not. As long as the union workers get theirs.
I can’t in good conscience knowingly buy a product that is made by American union workers, and will make considerable efforts to avoid this.
Well, no, it didn’t “shred” him. It pointed out his misleading facts on the issue. That sort of political behavior in engaged in by virtually all politicians unfortunately.
Is a long, long, long, LONG way from "SHREDDING"
No shredding, but at least it was an honest fact-check on a President who is a serial liar.
Morally, that was theft - grand theft except for the sleazy shenanigans that converted stealing from those rightful claimants on GM assets from a felony to government policy. I'm disgusted at borrowing money that our children will have to repay in order to reward the UAW and other Dem donors and activists, but it is because of the theft from the bondholders that I am boycotting GM and Chrysler forever. I will not buy any GM/Chrysler vehicle manufactured after the nationalization of those companies, because it is immoral to benefit from that criminal act. I will not buy any used GM/Chrysler products from before the nationalization because I don't want to add to the demand for their used cars and even incrementally help them to maintain the resale value of their products. GM is dead to me. Permanently.
More like chronic liar ... he doesn’t know how to be truthful.
same here...
As FactCheck.org points out, Chrysler received a $4 billion loan at the end of the George W. Bush administration, about three weeks before Obama became president on Jan. 20, 2009. The car company received $8.5 billion more about three months after Obama took office.
Chrysler has repaid $10.6 billion -- which, in the Obama's administration's view, covers the $8.5 billion loan it made on its watch, though that leaves $1.9 billion unaccounted for.
FactCheck.org notes:
Since then, the administration has announced that it will sell its remaining Chrysler shares to Fiat, the Italian automaker that will now own a majority of the U.S. car company. Taxpayers will reap about $560 million from the stock sale, Treasury says. That still leaves taxpayers about $1.3 billion in the hole, and Treasury doesn't expect to ever get it back.
~snip~
“I can’t in good conscience knowingly buy a product that is made by American union workers, and will make considerable efforts to avoid this.”
Don’t forget to boycott their services too, not just their products. Caterers, hotels, contractors, etc.
We all know ONLY the Wall Street bailouts were a good thing.
“I am boycotting GM and Chrysler forever.”
Same here. We bought 3 brand new Chrysler cars in a row for family vehicles in the past few years - the last one being an absolute lemon in what had been a reliable line. It was replaced with a used Ford product that is performing just fine.
Never owned an American car in my life.
” Caterers, hotels, contractors, etc. “
No problem there - Obamanomics has made sure that I don’t have any money to spend on anything besides food, fuel, and utilities.....
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