Posted on 01/07/2015 4:17:07 AM PST by IBD editorial writer
Bailouts: President Obama is going to Detroit Wednesday to brag about how he saved the U.S. auto industry. What he's really doing is exposing the folly of his industrial policy.
Just days before Obama's planned swing through Detroit, the Treasury Dept. reported that the final taxpayer cost of the auto industry bailout was $9.26 billion. That equals $441 for every single car and light truck that GM and Chrysler have sold since 2009.
That's an awfully big price tag for Obama to claim bragging rights over.
Maybe the outsized bailout cost explains why Obama will give his talk at an assembly plant owned by Ford, which didn't take any bailout money yet somehow managed to survive the recession.
(Excerpt) Read more at news.investors.com ...
Funny thing is the fact that he could have gone to the Ford light truck plant in the area that is adding jobs.
It is a multi-platform plant, with the Escape being built their too if my memory is correct. FWIW, I have driven a C-Max, and it is an impressive vehicle. Handles like a go-kart, and may have a niche with Seniors with the large doors, high seat point and large windshield. It's price-point can be a barrier. However, the article doesn't denote it came out the box with good sales, and set some records in the Hybrid segment. Their maybe more to the 3 week shutdown than the article denotes, and it may not be for our consumption, ( I have no knowledge in this instance ) but perhaps a mid-life refresh that hasn't been announced for this and or upcoming model year(s)...
It was nice to see Mike Bishop on FOX early yesterday pushing back on Obama’s claims that he has been a great economic driver in Michigan when the reality economic gains in Michigan have been entirely due to in state GOP policies.
America has witnessed the consequences of a generation inculcated with moral relativity and situation ethics. The ghost of Saul Alinsky lurks behind M/M Obama, Hillary Clinton Rahm Emanuel, David Axelrod, Anita "Mao" Dunn, Valerie whatsherface, and the rest of the Ohaha ilk.
They clearly see themselves as "deconstructionists"----savagely committed to tearing down America's traditions. Every manaical official govt act is dedicated to chipping away at the bulwark of American freedoms.
The Obamanations are a virulent anti-American plague of religion haters.......vacant, surly, Me-First humanoids who worship at The Church of Whatever Works For Me.
Cadres of self-absorbed Obama hires---punks squatting in govt are clearly disturbed---obsessed with religious cleansing and kicking so/con Repubs to the curb.
The Ohaha savages duped the citizenry, led us over a multi-trillion dollar deficit cliff, into massive corrupt bailouts, and atrocities like amnesty.
Their motto: "Everything For Us--Nothing For You."
That same generation inculcated with moral relativity and situation ethics has segued into The Entitlement Generation---better known as "Pay Me--I'm a Victim.
We need to remember that the Obamanoids are ruthless predators w/ no empathy for others and no remorse; anti-social psychopaths who recognize no moral boundaries--aggressively going after what they want, irregardless of the consequences to others.
Paraphrasing Saul Alinsky----the author of evil anti-religious satanism......"they do not have a fixed truth -- truth to them is relative and changing..... they are free from the shackles of dogma."
This plant is closed today.
Yeah but the light truck plant has added several hundred jobs in recent months.
I have a feeling the visit is actually an excuse to visit a certain museum and to stir up long settled six decades ago racial issues the worst parts of it caused by outsiders. The industrial park just happens to be pretty darn close {less than two miles} from a museum which was created to honor ones involved in segregation and some events that took place back in the 1950's.
As for me? I plan to stay home. I want nothing to do with the chaotic traffic mess this is going to create.
So, they’ve had economic gains after they went right to work? Imagine that.
While the big 3 are unlikely to ever go non union, RTW certainly helps many parts suppliers.
Tech is a fast growing sector in Michigan these days.
This exercise is pretty much proof of the inflexibility of the Obama daily drama producers.
They plan daily events months in advance, but in the event there is a problem are incapable of schedule revision.
Closed plant.... to hell with it. We go anyway. It’s on the schedule.
Every day of 2015 is planned to develop some arcane point of the political agenda. If Pearl Harbor is bombed, it will take three weeks to slow the schedule momentum to the point the president can react.
Buy a GM vehicle, get a free Ford to drive when your GM is recalled. :-)
He doesn’t even know which of the 57 states he is in!
Isn't it funny, that Obama is coming to Ford when he ran in 12' on I saved GM( any low information voter can google their real losses ) and Osama is dead. He can't touch the Osama thing as he send Club Gitmo wackadoodles home, and also he can't go near GM either ( for better or worse "The Volt" will be in the news big-time soon and that for better or worse becomes comedy routine material), so be relevant and get headlines he goes to Ford, the folks that fixed themselves old school style "by re-building that" because "they did built that" over 100 years ago, Go figure....
he didn’t bail out the auto industry. he bailed out the UAW — just a couple of months after the same organized labor spent about $100 million getting him elected.
in fact, he virtually guaranteed that the auto industry would fail again in the next 5 to 10 years by not solving the largest contributor to the problem — organized labor.
In November he was here pimping for Gary Peters and claiming his infrastructure spending was helping Detroit. Meanwhile Rick Snyder was ordering the Bridge project started without federal approval because Obama refused to release the money unless Detroit pension funds got $100 million of it.
“And if gas prices remain low, automakers will find it harder still to sell fuel-efficient cars.
Not to worry, since Obama plans to force people into small cars in the near future.
In exchange for all that government aid, the auto industry gave Obama a green light to hike the federal “corporate average fuel economy” standard to 54.5 miles per gallon by 2025, which is double what it was just a few years ago.
To put the standard in perspective, not a single non-electric car on the road today gets 54.5 mpg. The closest is the Toyota Prius Hybrid at 50 mpg. Even the tiny Scion iQ gets only 37 miles to the gallon.
And now the industry has just 10 years to figure out how to build, and get consumers to buy, cars that they clearly don’t want. And in the process they’ll spend upwards of $200 billion, according to the Detroit News. Those costs, of course, will end up hidden in the cars’ inflated sticker prices.”
How is this even going to be possible? Obama really does hate everything American.
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