US Action News

Not only does Obama portray the GM bailout as a great success, he has actually said, in public, that he wants a lot more “successes” just like it. “I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he told an audience in Colorado last week. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.” – Human Events

I wonder how millions of unemployed Americans feel about their bailout money that is now invested in China. The President is right that GM is number one again – in China.

Obama’s green dream goes up in smoke. The highly touted Volt bursts into flames in crash tests, could collapse the power grid if widely used, takes eight years to justify, and uses coal powered electricity.

A better question is did Obama do it all for the union campaign help? Rep. Dan Burton (R-IN) questions Mr. Ron Bloom, former Senior Advisor to the Secretary of the Treasury, on whether Mr. Bloom had said at a farewell dinner of the Auto Task Force in late July 2009, “I did this all for the unions.” Mr. Bloom denied the quote, but two independent sources have documented Mr. Bloom saying those words. As such, it appears that either a respected reporter or Mr. Bloom’s former boss in the Obama Administration have both given inaccurate accounts of Mr. Bloom’s comments to the public, or his testimony before Congress was not completely truthful.

“What we found is one of the most misleading collections of assertions we have seen in a short presidential speech. Virtually every claim by the president regarding the auto industry needs an asterisk, just like the fine print in that too-good-to-be-true car loan.” -Washington Post

Obama illegally gave ownership shares to the auto workers union who spent millions to elect Democrats leaving US taxpayers holding the empty bag.

The bottom line is that GM and Chrysler still owe the government a great deal of money, and it is far from clear that they will be able to repay it all. As long as the prospect of large losses for taxpayers loom in the distance, it is impossible to say that the jobs saved didn’t come at the expense of other jobs.

Taxpayer losses from bailing out Chrysler and General Motors may reach $34 billion but that doesn’t stop GM from giving your money away to groups like the Crongressional Black Caucus.

This is a car mandated by environmental elitists and government command-economy bureaucrats at the expense of taxpayers who won’t buy the car but will be taken for a ride anyway. It will not pull us out of the economic ditch we’re in. – IBD

In this ‘transparent’ administration the DOT is hiding information on Toyota safety records. Is this to help the government bailout auto companies increase sales to make the White House payoff of union autoworkers look good?