Your View On Todays Obama's "If We Hadn't Bailed Out GM & Chrysler" VS 9.1% Jobs ?

[Soggy in NOLA]

How much union payoff money did Ford get? And how are they doing these days?

 

[kiwiman127]

Regarding GM and Chrysler, I believe that GWB was involved in their bailouts. What a concept! Helping an American based company to save American jobs. The alternative was to let these American companies fail and to let over 1 million people to lose their jobs and to let foreign car makers in the south become the US automakers. With Bush/Obama, they had enough American pride to not let two symbols of America die and now these entities are prospering and helping to keep Americans working for American companies versus working for foreign companies.

So besides the entire country having to bail out a pair of companies that can't manage their own finances any better than a fifteen year-old, we now also have the added indignity of having to pay higher prices for less efficient cars because it's somehow patriotic? Screw you.

So go buy a foreign made car or a car made in the US by a foreign owned company. No one and I mean no one is forcing anyone to buy a car made by the American owned companies,,,no one!

 

[Soggy in NOLA]

Regarding GM and Chrysler, I believe that GWB was involved in their bailouts. What a concept! Helping an American based company to save American jobs. The alternative was to let these American companies fail and to let over 1 million people to lose their jobs and to let foreign car makers in the south become the US automakers. With Bush/Obama, they had enough American pride to not let two symbols of America die and now these entities are prospering and helping to keep Americans working for American companies versus working for foreign companies.

So besides the entire country having to bail out a pair of companies that can't manage their own finances any better than a fifteen year-old, we now also have the added indignity of having to pay higher prices for less efficient cars because it's somehow patriotic? Screw you.

So go buy a foreign made car or a car made in the US by a foreign owned company. No one and I mean no one is forcing anyone to buy a car made by the American owned companies,,,no one!

Exactly.. and how are Volt sales going?

 

[kiwiman127]

I see the far right wackos have their daily hard-ons for the unions at full-staff today.

 

[kiwiman127]

So besides the entire country having to bail out a pair of companies that can't manage their own finances any better than a fifteen year-old, we now also have the added indignity of having to pay higher prices for less efficient cars because it's somehow patriotic? Screw you.

So go buy a foreign made car or a car made in the US by a foreign owned company. No one and I mean no one is forcing anyone to buy a car made by the American owned companies,,,no one!

Exactly.. and how are Volt sales going?

And that applies to my comment,,how? But coming from you, well I'd expect nothing less.

 

[WillowTree]

Regarding GM and Chrysler, I believe that GWB was involved in their bailouts. What a concept! Helping an American based company to save American jobs. The alternative was to let these American companies fail and to let over 1 million people to lose their jobs and to let foreign car makers in the south become the US automakers. With Bush/Obama, they had enough American pride to not let two symbols of America die and now these entities are prospering and helping to keep Americans working for American companies versus working for foreign companies.

So besides the entire country having to bail out a pair of companies that can't manage their own finances any better than a fifteen year-old, we now also have the added indignity of having to pay higher prices for less efficient cars because it's somehow patriotic? Screw you.

So go buy a foreign made car or a car made in the US by a foreign owned company. No one and I mean no one is forcing anyone to buy a car made by the American owned companies,,,no one!

It's real freaking American to sell the stockholders of the two companies out for 7 cents on the dollar? It's real American to sell the bondholders out for 4 cents on the dollar? It's real American to close down privately owned dealerships? If that's your idea of America shove it up your ass I'll drive a Toyota.

 

[daveman]

what it boils down to is that Obama has no explanation for the 9.1% rate! Ohio is still stagnant! No plan to reduce the price of gas back to a fair $2.00 - $2.50 a gallon. Ever since O'Hiltler took office we have been GOING BACKWARDS! Oh by the way,,Obama never mentioned to the small crowd in Toledo that the interest on the debt is 3 Billion a day of which our kids are paying and will pay for.

Let's see, on one side of a righty's mouth they claim the government doesn't create jobs (when some asks what the GOP House has done to create jobs) and then the other side of a righty's mouth slams Obama because of the crappy job environment.
Well boys and girls,,,what is it?

The fact of the matter is that Corporate America is sitting on trillions of dollars of capital and has enjoyed record profits. BUT they aren't investing in America, the are investing in their foreign operations that are paying their employees Third World wages.
Now some of you and even Corporate America have said the reason that Corporate America isn't investing in America is because of the uncertainty of the economy or blame Obama for his policies. The economy is uncertain because no one is hiring! The economy is slowing down because the consumer class has no to little expendable income because of flat wages or no jobs. And who's not hiring the US worker and who controls their wages?
Corporate America's excuse may be they want lower taxes. The US has one of the highest tax rates on businesses in the world BUT after all the loopholes the US gives businesses, their tax rate is one of the lowest in the developed world. And that's evident to the fact that most US corporations don't pay any taxes!

Now back to the question, who exactly create jobs? Government or businesses?

Businesses do. However, when the government claims spending a trillion dollars we don't have WILL create jobs, and it doesn't, it deserves criticism.

 

[daveman]

So besides the entire country having to bail out a pair of companies that can't manage their own finances any better than a fifteen year-old, we now also have the added indignity of having to pay higher prices for less efficient cars because it's somehow patriotic? Screw you.

So go buy a foreign made car or a car made in the US by a foreign owned company. No one and I mean no one is forcing anyone to buy a car made by the American owned companies,,,no one!

It's real freaking American to sell the stockholders of the two companies out for 7 cents on the dollar? It's real American to sell the bondholders out for 4 cents on the dollar? It's real American to close down privately owned dealerships? If that's your idea of America shove it up your ass I'll drive a Toyota.

It's not real America, but it's real liberal.

 

[WillowTree]

So go buy a foreign made car or a car made in the US by a foreign owned company. No one and I mean no one is forcing anyone to buy a car made by the American owned companies,,,no one!

It's real freaking American to sell the stockholders of the two companies out for 7 cents on the dollar? It's real American to sell the bondholders out for 4 cents on the dollar? It's real American to close down privately owned dealerships? If that's your idea of America shove it up your ass I'll drive a Toyota.

It's not real America, but it's real liberal.

yep, when the barack pays pack all those people then he can say GM and Chrysler were a success until then,, it all hype. and union payoff.

 

[EdSchultzIsFat]

and like I have mentioned in previous posts,,,,,for every trillion dollars u throw into the economy,,,you can create between 20 Million and 25 Million jobs,,,,,and so far,,,4 Trillion has gone into circulation and we have lost another 3 Million Jobs! can anyone explain this?

 

[CrusaderFrank]

That's false. The White House never made any promise of x number of jobs or any promise of any specific unemployment rate.

Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers — leading proponents of a stimulus bill — predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%.

Read more: Barack Obama's Stimulus Plan: Failing by Its Own Measure - TIME

How would that rate with the Bushies claim that Iraqis would greet American troops with flowers? Or how about a sitting president saying "the economy is strong" after one quarter of showing to be slowing down and in the middle of a second consecutive quarter that was showing the economy was slowing down? (Two consecutive quarters showing an economic slowdown=a recession) The Obamanites aren't the first administration to makes erroneous statements.

But they did make the statements

 

[boedicca]

It's real freaking American to sell the stockholders of the two companies out for 7 cents on the dollar? It's real American to sell the bondholders out for 4 cents on the dollar? It's real American to close down privately owned dealerships? If that's your idea of America shove it up your ass I'll drive a Toyota.

Rich Lowry has a good commentary on this today:

The administration believes it trumps all criticism with one data point: GM and Chrysler are still with us. GM has even been making money, and had the biggest IPO in American history last November.

Yet, as Megan McArdle of The Atlantic tartly observes, it shouldn't have been in doubt that if government threw $80 billion at two companies, not expecting to get all of it back, it could save them. She points out that the loss from the bailouts (the administration's estimate is $14 billion) will be close to the entire market capitalization of GM in 2007. It will be several times as big as the company's 2008 market capitalization.

McArdle figures that, at a cost of roughly $10 billion to $20 billion, we might as well have given GM's pre-bankruptcy workforce of 75,000 hourly workers $250,000 each and called it a day.

On top of the bailout, the government has given GM a special tax break - CNN calls it "a sweetheart deal" - that will save it $14 billion on its U.S. tax bill. The government also is trying to induce consumers to buy GM's signature new product, the absurdly expensive electric Chevy Volt, by giving them a $7,500 tax credit on its $41,000 sticker price.

With all this support, GM should be the world's greatest industrial concern. It's hardly that, although it's much improved. We can thank Chapter 11, the tried-and-true method for turning around bankrupt companies that still have value.

(snip)

As an exercise in what Zywicki calls "state capitalism," the bailout was a procedural horror show. It was probably illegal to funnel TARP funds into the companies; they may not have been car companies worthy of the name any longer, but they certainly weren't "financial institutions." Chrysler's creditors, who held secured bonds and were guaranteed repayment first, got forced into taking 29 cents on the dollar. In contrast, the United Auto Workers' pension plan got 40 cents on the dollar. The creditors of both Chrysler and GM were denied their usual right to have a say in the reorganizations.

The government was in a strong position to bully some of these creditors, because they themselves received TARP funds. Once they had their hooks in them, the Obama administration and Congress made the companies to do their bidding, insisting they build politically correct hybrid cars and keep open politically favored dealerships.

Ultimately, the moral stature of capitalism depends on a structure of rules that applies to firms large and small, politically connected and not. By this standard, the auto bailouts fail miserably, and so perfectly distill Obamanomics.

RealClearPolitics - Obamanomics in a Nutshell


Obamanomics, for all of its slick veneer, styrofoam pillars, and magical unicorns, is just state sponsored thuggery.

 

[daveman]

It's real freaking American to sell the stockholders of the two companies out for 7 cents on the dollar? It's real American to sell the bondholders out for 4 cents on the dollar? It's real American to close down privately owned dealerships? If that's your idea of America shove it up your ass I'll drive a Toyota.

It's not real America, but it's real liberal.

yep, when the barack pays pack all those people then he can say GM and Chrysler were a success until then,, it all hype. and union payoff.

And the Troo Beleevers will swoon and say "Isn't Obama ever so dreamy?" and vote for him again.

 

[EdSchultzIsFat]

and how come Obama never bailed out all the small businesses who were on the virge of going under? and how many small businesses had to shut down in 2009 thanks to the Obama Recession? Obama never sent the average hurting family a check for $50,000 to tie them over until the recession would end. But he didn't mind bailing out his Friends that voted for him!!!

 

[daveman]

On top of the bailout, the government has given GM a special tax break - CNN calls it "a sweetheart deal" - that will save it $14 billion on its U.S. tax bill.

And the anti-KKKorporatists won't say a word about it.

 

[daveman]

and how come Obama never bailed out all the small businesses who were on the virge of going under? and how many small businesses had to shut down in 2009 thanks to the Obama Recession? Obama never sent the average hurting family a check for $50,000 to tie them over until the recession would end. But he didn't mind bailing out his Friends that voted for him!!!

Because small businesses and families don't donate as much.

 

[CrusaderFrank]

And Liberals still believe that letting GM go through bankruptcy and reorganizing their debts and crushing labor costs means that all the workers are taken out back and shot.

 

[American Legacy]

And Liberals still believe that letting GM go through bankruptcy and reorganizing their debts and crushing labor costs means that all the workers are taken out back and shot.

Not a bad plan if the workers are union activists.

 

[EdSchultzIsFat]

and remember a long time ago when we all knew that Yobama needed to create 250,000 jobs a month to keep pace with a recovering economy,bring it back to around 5%? well, here we are, midway thru 2011,,,,MAKE THAT 500,000 A JOBS Now !!!! any ideas? anyone?

 

[boedicca]

and remember a long time ago when we all knew that Yobama needed to create 250,000 jobs a month to keep pace with a recovering economy,bring it back to around 5%? well, here we are, midway thru 2011,,,,MAKE THAT 500,000 A JOBS Now !!!! any ideas? anyone?

A really simple one: The Government should GET OUT OF THE WAY.