Posted on 06/07/2009 8:31:32 AM PDT by Sub-Driver
Administration blames Bush for GM crisis By Mike Soraghan Posted: 06/07/09 11:24 AM [ET] The Obama administration has a familiar response to criticism of the General Motors bailout – they inherited this mess from George W. Bush.
Austan Goolsbee, a senior economic adviser to President Obama, said the administration's options were sharply limited by President Bush's handling of the auto industry, and accused the prior administration of running out the clock.
"They shook up the can. They opened the can and handed [it] to us in our laps," Goolsbee said on Fox News Sunday.
"When George Bush put money into General Motors, almost explicitly with the purpose -- how many dollars do they need to stay alive until January 20th, 2009, there was no commitment to restructuring, to making these viable enterprises of any kind," said Goolsbee, who serves as staff director and chief economist of the Obama's Economic Recovery Advisory Board.
In his first five months in office, Obama has often said that some of the politically difficult decisions he's made are the fault of his predecessor, most notably the $1.3 trillion budget deficit.
The Obama administration has steered the two troubled companies into bankruptcy and recently announced $30 billion in aid to General Motors, giving the government about 60 percent ownership of the company. Chrysler has been cleared to merge with Italian automaker Fiat.
(Excerpt) Read more at thehill.com ...
Bush stole my bike and my car alarm!
Union paybacks are always “Bush’s fault”.
Of course they do. They will never accept blame for anything, just credit. Soon, though, they will begin to blame to voters and their political targets.
Bush didn’t decide to take over the companies or close the dealerships that are owned by Republicans. This is the Obama Meltdown.
Pray for America
Once again the we won’t look back President...ah..um...looking back. Oh and making things up. Now that’s the way to look back!
How’s that New Tone working for you Mr. Ex-President?
Interesting.........to say the least. No mention of his lobbying Bush to give the auto industry the money, enough to hold them until he himself was in office. The absolute sleaziest man ever to enter office in the US.
Even conservatives start out by saying this...”it started under Bush blah blah blah”.
PLEASE...there is NO comparison!!!
It is not the job or the right of the American President to "handle" the auto industry.
Even the non political are starting to see that this is getting old, next thing they will be saying is the dog ate my homework excuse
Man-up Obama & quit whining - you wanted this job! My gosh, how many vacations has this man had already, and he’s only been in office less than 5 months! He’s going to crack under the pressure.
For President Bush he must be laughing at the socialists floundering
Thank you!
To think it took 12 posts....
Pretty soon, the clock is going to run out on that lame excuse.
And I’ll continue to blame FDR and Jimmy Carter for their effects on the current state of affairs.
it could never be the avarice of the UAW
But of course. One of our local liberal newspaper columnist had a piece in this mornings paper where she was confused about the economy. Basically she didn’t understand why we were being told things were getting better yet we are seeing things get worse. Of course she totally doesn’t get it that its the media spin, plain and simple.
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