If you were tuned into anything other than the Obama News Networks (ie NBC, ABC, CNN, CBS, MSNBC, NPR) last week during the DNC, you might have caught a glimpse of the viral video that outlined the absolute economic ignorance of the creatures we call Democrats.
When DNC attendees were asked in varying ways about profits and “if they should be outlawed”, the answer was a resounding “YES”.
Depressing, yes I know.
“Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts.
Aside from the fact that many people go out of their way now to avoid buying GM on principle (i.e. government has taken it over and taxpayers have lost millions in bailing them out), the hassles (battery, costs, plug-ins, etc as outlined in Reuters article) are a turn-off to many who need ease and dependency in their choice of automobiles.
Of course, this disaster of a car falls right in line with Obama’s “green energy at all costs” policies….That policy is summed up as “let’s force/offer tax-payer-funded incentives for this very expensive-to-build car onto people who don’t want it so we can feel good about ourselves.”
“I don’t see how General Motors will ever get its money back on that vehicle,” countered Sandy Munro, president of Michigan-based Munro & Associates, which performs detailed tear-down analyses of vehicles and components for global manufacturers and the U.S. government.
It currently costs GM “at least” $75,000 to build the Volt, including development costs, Munro said. That’s nearly twice the base price of the Volt before a $7,500 federal tax credit provided as part of President Barack Obama’s green energy policy.
And let’s not forget that Obama has highly touted the Volt and has given $50 Billion further taxpayer money in an effort to force us into his idea of cars and the economics of purchasing one….
His idea? You get a green car, but the taxpayer, customer, and the car manufacturers will pay through the nose with another type of green to get one.
The Obama administration, which engineered a $50-billion taxpayer
rescue(“TAKEOVER”) of GM from bankruptcy in 2009 and has provided more than $5 billion in subsidies for green-car development, praised the Volt as an example of the country’s commitment to building more fuel-efficient cars.
(my correction in red/CAPS)
And let’s not forget that the Obama myth of “saving the auto industry” with unprofitable cars, government takeover/control, and $5 billion subsidies also has led to a $25 billion loss for taxpayers.
The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That’s 15 percent higher than its previous forecast.
The government still holds 500 million shares of GM stock and needs to sell them for about $53 each to recover its entire $49.5 billion bailout.
Further, this unprofitablility via Obamanomics seems to be what the Democrat party wishes for. (Watch the above video again.)
Don’t ever believe the lie that Obama saved GM and the auto industry. He did quite the opposite. And he wants to do it to other industries.
From the “You didn’t build that” speech:
“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.
Obama spent $50 billion of our taxpayer dollars to takeover GM — we, as taxpayers, have lost $25 billion of that. He plowed another $5 billion into “green energy” for the car industry and now the very car (the Volt) that he touts as the future will never be profitable.
Sounds like a Democrat, unprofitable dream product to me. (but not to constitutional, capitalist Americans.)
We can’t have this anti-capitalist, communistic thinking for another 4 years.
Filed under: 2012 Presidential Election, Auto Industry, Barack HUSSEIN Obama, Big Government, Collectivism, Communism, Daily Headlines, Economic Stimulus, Economy, Liberalism, Media Bias, Politics, Progressives Ain't, Socialism, Taxes, Union Thugs Tagged: | $25 billion taxpayer loss, GM, Obama, Obama myth, unprofitable, Volt losing money