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!


#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.

Obama’s Values, not American Values, must be forced onto others

In his interview with the BBC, Obama had this to say in another of his apologies for America:

The danger, I think, is when the United States, or any country, thinks that we can simply impose these values on another country with a different history and a different culture,” he said.

But isn’t it interesting how almost every move made by the Obama administration has been to FORCE his ideological values down the throats of Americans, Israel, and many of our other allies?

Obama on Israel:
Israel apparently must keep to its agreements made my predecessors, but Obama intends to ditch any agreements made by the Bush Administration.

According to a report in the New York Times, the Obama administration is considering taking measures against Israel should Netanyahu not comply with the U.S. administration’s demands to halt settlements. The actions would be a sharp departure from the Bush administration…..
……While Obama reportedly is looking to get out of a deal agreed to by his predecessor, the U.S. president seems to expect Netanyahu to stand by extreme concessions to the Palestinians under his predecessor, Ehud Olmert. ….
……”We have seen progress stalled on this front, and I suggested to the prime minister that he has a historic opportunity to get a serious movement on this issue during his tenure,” Obama said.
“That means that all the parties involved have to take seriously obligations that they have previously agreed to,” he said.

Obama On Iran’s Nuclear Power:

Nuclear power for Iran because we can…you know….trust them to do the right thing….but NO nuclear power for the US…because..you know…we are evil.

Outrageously the “president of the world” is willing to agree with Iran, one of our biggest international enemies, a nation that has sent its soldiers and trainers into combat against our own troops, a nation that exports acts of terror across the globe, a nation that claims it needs nuclear power for domestic energy… and Barack Obama is on their side.

In Prague last month, Obama said that he saw no reason why his administration wouldn’t “support Iran’s right to peaceful nuclear energy with rigorous inspections.”And today in London, Obama reiterated that support by agreeing that Iran’s announced intentions for nuclear power were “legitimate aspirations.”

Not only that, but just last month Obama approved a nuclear power deal with the United Arab Emirates, as well. So, it’s nuclear power for everyone but the U.S.

So what about nuclear power for the US? Here we are dependent upon foreign oil on one hand, or still using what Obama claims is “dirty” coal power on the other, yet Obama still refuses to allow his own countrymen build new nuclear power plants.

Obama on healthcare:
Obama intends to implement a government takeover of healthcare ( I use the word “care” loosely) regardless of the facts….he is doing it because of his worldview and the power grab it affords him.  Again, who is pushing whose values onto whom?

Obama’s plan will eliminate the private insurance industry, “its premised on doing so.” He intends to create a socialist, government controlled health care system regardless.

Obama wants a single payer healthcare system. His deception offers a “choice” that is intended to disappear shortly whether people want their private insurance or not.

 I could go on and on about the Chicago thug tactics being used on TARP recipients, Obama’s abuse of power in firing a sitting GM and partnering with the UAW in taking over a US corporation, or about Obama’s socialist policies being shoved upon the American people….It’s been only a few months and Obama’s brazen moves are numerous and hypocritical.

Obama can’t relate to American values because his values are more closely aligned with our enemies and with ideologies that are enemies of freedom and capitalism. 

Isn’t is amazing how the greatest country on earth has existed for well over 200 years and now….we have an anti-American president who is ashamed of his country and apologizes for the values that made us strong?

And it is the absolute height of hypocrisy to preach to our enemies and allies alike that American “should not impose” its values on the world….all the while Obama is imposing his values upon us all.

Since when are these values not worthy of proselytizing —-  freedom, life, liberty, pursuit of happiness, fiscal responsibility, denouncing terror and murder, & defending Israel and our allies, to name a few?

It sickens me to the point of physical exhaustion sometimes.    And it saddens me to know the world my daughters are inheriting from the madman-in-chief (and his Congressional cohorts) will be one with increasing terror and war, nuclear proliferation like the world has never seen, increasing racial division, and a country that is fully bankrupt morally and financially….

The new regime triggers new acronyms

While reading the latest power grab news by the Obama administration today, among other things, I noticed a few new great acronymns that are being generated due to the arrogance in Washington. 

From Michelle Malkin

AIG – Asshats in Government

and FUBAR – Federal Unionized Bureau of Auto Repair

Others around the net:

GM – Government Motors

OBAMA – One Big A^& Mistake America

Anybody reading have some of their own?