US Action News

[Obama] spent billions of U.S. taxpayer’s money overseas to create outsourced jobs.

One of the highest spenders on lobbying is General Electric. Along with its subsidiaries, General Electric spent more than $9.5 million on federal lobbying between April and June 2010.

From an America corporate icon to an American disgrace, GE epitomizes how federal policies, cronyism, and rent seeking is destroying America from within by avoiding taxes and shipping jobs overseas.

“General Electric, the nation’s largest corporation, had a very good year in 2010” reported the Times. “The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, GE claimed a tax benefit of $3.2 billion.”

From the light bulb ban to billions in ‘green’ subsidies GE has proven itself to be the best at milking the government cow. Hats off to the king of crony capitalism, Jeff , we’re all Democrats now, Immelt for his appointment to Obama’s economic campaign payoff committee. After all, GE closed its last US light bulb plant and will create or save thousands of Chinese jobs making the new poisonous CFLs.

Dem shills Olberman, Maddow and NY Times ignore unfolding scandal involving how GE CEO used his high-level Obama Administration connections to collect billions of dollars from the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC).

The partisan commentators on the GE-owned MSNBC television failed to cover the big financial news of the day—their corporate bosses had tapped the Federal Reserve for $16 billion in bailout money. GE owns the NBC television network and MSNBC and CNBC cable channels.

CNN’s John King examines Obama’s calling Fox News ‘Destructive’ and the White House calling MSNBC ‘Invaluable’ [09-29-10]. GE co-owns MSNBC and is a huge contributor to Obama and the Democrats and lobbies heavily for Obama’s ‘green’ agenda on which they stand to make 100s of millions of dollars.

“The stimulus has shown to be a payout to special interests and family members; it’s not focused on jobs,” adding that the Carnahans are a prime example

Does anyone in Congress care about the plight of American workers, or are they so deeply embedded in the fantasies of Al Gore that they are willing to put American workers out of work?