Posted on 06/03/2011 4:04:55 AM PDT by EBH
President Barack Obama is drawing attention to the auto industry's rebound, visiting a Chrysler plant in politically important Ohio as he seeks to highlight a rare bright spot in the sluggish economic recovery.
Obama was to travel to Toledo on Friday, making the latest in a string of domestic trips to promote his economic agenda and defend the much maligned government bailouts to Chrysler and General Motors. The president planned to speak to plant workers and local business owners about the significance of the industry's turnaround.
A report by the president's National Economic Council this week said the taxpayers' loss from the bailout will be about $14 billion. The Treasury Department initially had expected losses closer to 60 percent.
(Excerpt) Read more at finance.yahoo.com ...
Companies sold off to foreign entities...
14 billion lost here 1.3 billon lost there..
Fail.
Dude:
You can’t buy a car if you don’t have a job and the money to pay for it.
The government lying once again.
The (weak) numbers lately is known as “channel stuffing.”
Thousands of people without jobs so he could fund the auto worker’s pensions.
Hundreds of auto dealers shut down to spite certain dealership owners.
Bondholders lost their money because he broke the financial rules.
And he wonders why no one trusts him, in or out of the business community.
GM Sales Fall on Fleet Weakness
http://www.thestreet.com/story/11138417/1/gm-sales-fall-on-fleet-weakness.html
The farce continues. The jobs report this morning will be another example of Obama Ebonomical Policy. They have an Obama Cookbook up there with recipes for fantasy Feel Good Numbers. I predict 8.999% unemployment.
What turnaround?’’Obama says there is a turnaround?
WTH is he talking about?
More propaganda and how they plan to use it!
Obama seeks edge from role in auto bailout
Controversial decision may pay off politically
http://www.boston.com/business/articles/2011/06/03/obama_seeks_edge_from_role_in_auto_bailout/
Democrats are seeking to turn the issue against would-be Republican presidential candidates who opposed the financial rescue of the Detroit automakers, especially former Governor Mitt Romney of Massachusetts. In an opinion column in November 2008, Romney advised: “Let Detroit go Bankrupt.’’
Romney is a native of Michigan; his father, George, once ran American Motors before serving as the state’s governor.
“This is to hit Romney where he lives,’’ said Garrison Nelson, a political scientist at the University of Vermont, commenting on the Democratic strategy.
It will tick down a notch only to be revised upward the next time around. With all the bad economic news over the past few days, he desperately needs to have some cooking done. And it will be. This is a government report after all.
Automakers sold about 1.1 million vehicles in May, 3.7% less than a year earlier and 8.3% less than the previous month, according to Autodata Corp. The annual sales pace was 11.8 million vehicles, off from the 13-million rate set in previous months this year.
He can't do any more harm; I'm already going to boycott both companies forever. There is no situation in which I would buy a GM or Chrysler product from the past, present, or future for any price. Both corrupt companies are dead to me.
Oboomba better hurry up to take credit for the “recovery” of the auto industry before things tank any further!
It is not about the companies...it is about the election!
http://www.boston.com/business/articles/2011/06/03/obama_seeks_edge_from_role_in_auto_bailout/
“In Ohio, it won’t be called a bailout if the economy continues to improve,’’ said Herb Asher, a political scientist at The Ohio State University, “it will be called saving an industry.’’
Fortunately for GM and Chrysler, they don't have to sell cars to you anymore to get your money. They are tapped right into your arteries, and can bleed money from you whether you buy their crappy cars or not!
The auto industry is alive and well, but not in the rust belt. The nearby Hyundai plant is expanding, but since that will generate non UAW jobs, you will never hear the regime mention this.
0bama campaign stop about saving the auto industry in Ohio
The con is wearing thin.
Hey give me a hunk of money and I would do well also
Let me have a business and write off all debt and give me 35 Billion and I will have a chance for sure.
If you won a Hundred Million Dollars on the Powerball tomorrow, and a Hundred Million on the MegaMillions the day after that, and another Hudred Million the day after that, so on and so forth, it would take you 137 years, winning 100 Million dollars a day, seven days a week, 365 days a year, to pay off the debt incurred by this administration since January 2011.
Just to put things in perspective.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.