On the campaign trail, Obama and Biden have been touting the success of the auto (GM) industry (TARP bailout). And how HE saved the industry. And from the looks of much of the Ohio and Michigan voter polls, a lot of folks are buying that ... CRAP! But, are private citizens really buying the cars?
General Motors announced in June (2012) that its auto sales increased by 16 percent, its best monthly sales gain since 2008. Boy, that sounds great, doesn't it!
But IF anyone cares to check for themselves, a little fact to go along with the drivel should be in order. - As it turns out, there’s a big reason GM experienced an increase in sales that month: “government purchases of GM vehicles rose a whopping 79% in June,” according to the National Legal and Policy Center.
So, we ... that's you and me, the taxpayers ... provided a TARP bailout to GM, of which GM and GMAC together still owe the biggest share of the remaining $50+ BILLION in TARP debt, AND we, you and me, are buying the cars. GM ... excuse me, I should say Obama, is double-dipping the figures.
I guess when you (Obama) demand the firing of the CEO, and replaces him with ...the government -the President of the United States, some good deals can be had on new GM cars! So you give them huge loans, then buy the cars from them to help prop up the numbers, all to support what you've done. Government PICKING winners and losers, and even padding the false winner with ill-gotten funds - the redistribution of taxpayer (OUR) money!
This weekend, Joe Biden said, ".... Osama bin Laden is dead and General Motors is alive." He continued, "Folks, you're the reason that the automobile industry is back. Whether it was
the wage freezes, the plant closures, folks, you sacrificed to keep your
companies open," Biden said. "Because of your productivity, the combined auto
companies have committed to invest another $23 billion in expansion in America." Well Joe, you might add in, that the US taxpayer gave GM the money to hold on. The government stepped in, and didn't let GM take a fall, and the bad business at GM is still going on. Otherwise, they would never have tried to build a car no-one wants to buy!
Yeah, that Volt? The GM Chevy Volt has been such a whopping success, trumpeted by Obama and Biden, that it is "temporarily" shut down for the 3rd time. The demand just isn't there to keep the line rolling. Gee, I wonder how many Chevy Volts the "government" (you and me) own? And at what cost?
The fact that Obama could "fire" anyone in private business, and get away with it, still dumbfounds me.
By the way - FORD did NOT receive TARP bailout funds, and is outselling Chevrolet. My next new car purchase, will be a Ford product! And I pray my next President, won't be a bailed out loser like Obama!
PS. I've been a GM owner most all my life. I love the GM brand, but until they can live within their means, and say NO t government intervention, I'll be buying Ford, if I can afford any new car again!
