Obama: Obama “saved” GM; Treasury Dept: Taxpayers are on the hook for Billions #GM #bailout #Obamafail


“What? You want me out of your car company?….I ain’t givin’ up my car company!”

From Marketwatch:

“Earlier this year, GM presented a plan to repurchase 200 million of the 500 million shares the U.S. holds with the balance being sold via a public offering.”

In other words, GM wants the government out citing ” it hurts the company’s reputation and its ability to attract top talent due to pay restrictions.”

“But officials at the Treasury Department were not interested as selling now would lead to a multibillion dollar loss for the government, the newspaper noted.”

And as is apparent to everyone but the Obama koolaid drinkers–taxpayers have lost BILLIONS on the GM takeover by Obama.

From Freedomworks back in August:

Now Mr. President, what you concealed from the honest people of the Midwest and America.  America had a long established legal system to adjudicate bankruptcies, which debtors and creators rely on to make rational and predictable decisions.  However, you prevented this orderly process to reward the UAW unions.  At the expense of the secure bond holders, you made the UAW a major owner of GM. Bluntly, you used Presidential power and taxpayer’s money to transfer ownership to the unions.

Obama didn’t “save” GM.  He took his share, gave some to the auto unions, and wiped out the secured bond holders….. and is now running it into the ground–on our dime and the earnings of future generations!

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#Obamanomics and a Democrats No-Profit Dream: #GM loses $49,000 on each Volt built #DNC #GMFiction #Obama


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.

So today, news is out via Reuters that GM’s loses as much as $49,000 on each Chevy Volt it builds.

“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.

Our Trojan Horse President….


Obama bows to King Abdullah of Saudi Arabia

Trojan Horse (definition):
concealed stratagem: somebody or something that is meant to disrupt, undermine, subvert, or destroy an enemy or rival, especially somebody or something that operates while concealed within an organization.

They say truth is stranger than fiction.

And as Robert Knight at the Washington Times points out, writing a novel about a President whose goal is to undermine the USA could never match the real thing we have in Barack Hussein Obama.

As we begin 2012, it is imperative that we remember the damage that this President has unleashed upon our country.  He must be removed from office….and this is the year we must do it.

Knights article is a great reminder of so many of the appalling things Obama has done in three years….for which much of the media and many Americans have given him a pass…

I was thinking about writing a novel about what might happen if a man who hates America and wants to bring it down is somehow elected president. What would he do?……

…….First, the Trojan Horse president would initiate unprecedented spending, driving the debt up by more than $4 trillion just in the first three years. Much of the money would go into the pockets of political supporters and people who donate heavily to his campaigns…….

……….(He would)  Ship hundreds of taxpayer-purchased firearms to Mexican drug gangs in order to frame law-abiding gun sellers in Texas. When the Fast and Furious weapons are used to kill U.S. and Mexican lawmen, the attorney general will pretend he didn’t know about the program until very recently and is shocked, shocked! The attorney general will claim that critics of this criminally insane policy are motivated by racial animus against him and the president. After all, this worked when anyone questioned why the president’s college and medical records were sealed or why he attended a Marxist minister’s church for 20 years and hung out with known terrorists.

He would appoint Supreme Court justices who believe in a “living Constitution,” which means they can ignore its plain meaning when it interferes with their ideological agenda.

He would stack the National Labor Relations Board with union hacks who would do unspeakable things such as order a major company (Boeing) not to open a new factory in a right-to-work state (South Carolina) in the middle of the worst recession since the Great Depression. If he got away with that, he would go ahead and strengthen a crony socialist system reminiscent of Mussolini’s Italy or Hugo Chavez’s Venezuela that subsidizes “winners” such as Solyndra.

Finally, throughout his tenure, he would employ the Marxist rhetoric of class warfare, blame “the wealthy” and make more Americans dependent on government checks. He would sucker Republican leaders into secret meetings and emerge to accuse them of wanting to raise taxes on all but the rich.

Read it all  here.

Gallup poll: 64% see big government as biggest threat to country


 

Obama in Osawatomie, Kansas 12-6-11

Obama loves to bash big corporations.  He also loves to expand government.

In Gallup’s latest poll, it appears that Obama is clearly out of touch with what Americans want.

An overwhelming 64 percent of people surveyed said big government was the biggest threat  to the country, compared to just 26 percent who said big business is their  gravest concern and 8 percent who picked big labor.

That kind of leaves a mark on Obama’s campaign plans to associate Republicans with big, BAD business and to continue his “tax the rich and everything that moves” expansion of government.

The Republican nominee would do well to hammer home just how extensively Obama has expanded government and, hopefully, what drastic measures that the GOP nominee would take to reverse it.

In his first 4 months alone as President, Obama did this:

Obama has firmly planted government’s fingers into the healthcare of every American (if the Supreme Court and/or Congress decide for Obamacare).
The stimulus was a slush fund for Obama’s cronies and instead of creating jobs, has left us with fewer jobs and fewer people seeking work.
The Democrats have failed to pass a budget and spending by the federal government has increase significantly.

And, according to his speech in Osawatomie, Kansas this week, Obama fully plans to seek even further control of our lives and money.  From Heritage.org:

If U.S. history is a painting on a giant canvas, President Barack Obama’s speech this week in Osawatomie, Kansas, is a thick coat of whitewash layered all over it, and the failure of the last three years lies underneath. The President’s pretense is that, no, it’s not Obamanomics that has caused persistent unemployment, stunted growth and record deficits–it’s supply side economics!

Talk about audacity.

The President’s speech was a naked portrayal of his vision of America–one where inequality runs rampant, where the American dream is nearly dead, where the rich oppress the poor, where education is undervalued. As Charles Krauthammer observes this morning in The Washington Post, “That’s the kind of damning observation the opposition brings up when you’ve been in office three years.”

Indeed, what was glaringly absent from the President’s portrait was the fact that his economic policies have failed to put Americans back to work and his absolute inability to lead Washington toward combating rampant government spending. His solution, moreover, was more of the same stuff that has failed spectacularly for him: government as the great savior.

But in President Obama’s mind, it is others who offer ideas that don’t work, not him. He points to “a certain crowd in Washington” that argues for tax cuts and reduced regulations, calling it “a simple theory” that “fits well on a bumper sticker” but “has never worked.”

Obama thinks capitalism doesn’t work.  Individualism doesn’t work.  He thinks our money is his.  He panders to unions for power and he is as corrupt as they come in Washington.

Republicans are not perfect, but they better see that they must run against “big government”.  It is a winning strategy and not hard to comprehend.  The GOP better stop pandering to the “middle” and the media….and start pandering to the 64% that fear what our founders fought hard to overcome.

Herman Cain: “”You can demonstrate all you want to on Wall Street, the problem is 1600 Pennsylvania Avenue!!!”


Via HotAirPundit blog, Herman Cain spoke at the Values Voter Summit tonight…..and he received a standing ovation during his fiery speech!

He told the Occupiers of Wall Street to “move it to the White House”!

Herman Cain is spot on accurate…..a reminder of what the White House has done here or here….Wall Street didn’t do it!

Even better – Obama’s disastrous Presidency- in video form!


(Hat tip: Ace of Spades)

Obama’s disastrous Presidency – in graphic form


This chart needs no commentary or introduction. Please spread it around. From John E. at Ace of Spades: