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A few key FACTS PC failed to mention:
The Chevrolet Volt concept car debuted at the January
2007 North American International Auto Show, becoming the first-ever series plug-in hybrid concept car shown by a major car manufacturer.
The production design model officially unveiled on September 16,
2008, as part of General Motors centennial celebration at the Wintergarden headquarters in Detroit
In 2009, the Presidential Task Force on the Auto Industry said that "GM is at least one generation behind Toyota on advanced, “green” powertrain development. In an attempt to leapfrog Toyota, GM has devoted significant resources to the Chevy Volt." and that "while the Chevy Volt holds promise, it is currently projected to be much more expensive than its gasoline-fueled peers and will likely need substantial reductions in manufacturing cost in order to become commercially viable."
Chevrolet Volt - Wikipedia, the free encyclopedia
And THIS:
Bush Would “Do it Again” on Auto Bailouts
Former pres. tells dealers it prevented “21% unemployment.”
It has become one of the rare things that binds the two men, the controversial automotive bailout that was begun by former President George W. Bush and completed by his successor, President Barrack Obama.
The latter defended his actions during the recent state-of-the-union address, during which he declared “The U.S. auto industry is back.” His predecessor used a meeting of the nation’s auto dealers to defend his own actions, insisting he had no other choice but to completely sink the American economy.
“I’d do it again,” proclaimed Bush, speaking to the annual convention of the National Automobile Dealers Association.
The bailout, which ultimately totaled $85 billion, was originally begun during the waning days of the Bush Administration. With a specific rescue effort rejected by Congress, the former Commander-in-Chief decided to tap into a separate, $700 billion fund Capitol Hill did approve for the bailout of Wall Street and the banking industry.
“Sometimes circumstances get in the way of philosophy,” said the ex-President, during his speech in Las Vegas, referring to his normal stand in favor of free trade. “If you make a bad decision, you ought to pay,” he said, referring to the collapse of both General Motors and Chrysler.
But Bush also noted that coming on top of the failure of Lehman Brothers, the meltdown of the banking industry and the collapse of the housing market, a painful shift in policy was needed.
“I didn’t want there to be 21% unemployment,” he stressed, echoing forecasts at the time that the loss of GM, Ford and the automotive lenders also covered by the bailout could lead to the loss of 1 million jobs.
Bush Would
