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Obama's (Un)American Auto Bailout

Kiffur Wrote: Sep 05, 2012 11:47 AM
(Good luck figuring out the math on that last part, though. Let's see. We had to borrow the money from China to 'bail out' GM in the first place, then we lost all the money GM could have been spending on hiring workers to retool and rebuild factories in this country because all that money was being spent overseas, then we lost all the taxable income from this mini building boom AND all the tazable income from the auto workers once they were up and running again, not to mention all the ancillary money (and taxes) generated by other businesses given a lift by GM's spending $$$ at home...

CHARLOTTE, N.C. -- Cue "Fanfare for the Common Man" and rev up the Government Motors engines. Wednesday is Great American Auto Bailout Day at the Democratic National Convention. Party propagandists have prepared a prime-time-ready film touting the "rescue's" benefits for American workers. UAW President Bob King will sing the savior-in-chief's praises.

But like all of the economic success stories manufactured by the White House, the $85 billion government handout is a big fat farce.

"I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back," Obama bragged...