Auto bailout a success

[one...two...tree 2,762]

Give Republican presidential candidate Mitt Romney credit for brashness if not for honesty in his Michigan campaigning over the weekend.

“The president is unprepared,” Romney said Saturday to a state whose economy relies heavily on General Motors and Chrysler. “He just didn’t understand how the economy really works. My experience was in the private sector.”

Both Romney and fellow candidate Rick Perry sounded the same theme in 2008, when they wrote op-ed pieces warning against a bailout of the auto industry.

Fortunately, President Barack Obama ignored their advice when he took office. Despite political cries of socialism, Obama pushed through an $80 billion bailout of bankrupt GM and Chrysler. Both companies since have become rare bright spots in an otherwise bleak economy. The bailout saved an estimated 1.5 million jobs, according to a study by the Center for Automotive Research.

Moreover, the U.S. government has so far recouped all but $14.3 billion of the investment. It was by far the most cost-effective effort the government took in combating the recession.

http://www.decaturdaily.com/stories/Auto-bailout-a-success,85559

[I AM NOT THAT GUY 5,715]

[I AM NOT THAT GUY 5,715]

On 9/27/11 at 01:42 AM, Felonious Monk from wrote:

... and in the proces he rendered my GM stock worthless. Thanks a bunch, Mr. President!

On 9/27/11 at 04:47 AM, JUDY from Hartselle wrote:

Eighty billions dollars should build a lot of cheaper cars and trucks for, we the people. I wonder, how many?

On 9/27/11 at 05:24 AM, james from wrote:

Ford, Hyundai, and Mercedes didn't need our tax money, so why give $14B, if that if the true number, to GM...Of course Obama wanted to take care of his union friends who helped kill the US auto industry, including the GM plant in Limestone County....

On 9/27/11 at 05:35 AM, Rebecca from wrote:

Guess the writer of this editorial missed the announcement that GM is partnering with the Chinese Government to move all production of the Volt to China. How much ADDITIONAL money did Obama throw at GM to subsidize the development of the Volt? How about the additional tax incentives for purchasing a Volt? Yep, Obama is creating "green jobs" -- in China!

On 9/27/11 at 06:05 AM, james from wrote:

Good entrepreneurs like the Koreans, Hyndai and Kia; Germans, Mercedes VW, BMW; and Japanese, like Toyota, come here to make money, which creates jobs, while Obama's friends like GE and GM move to China....Who's economy is Obama trying to help?

Obama and his "staff" wouldn't know how to manage a hot dog stand...but they do know how to kill the the free enterprise system so they can replace it with their brand of Socialism and welfare.....

On 9/27/11 at 06:08 AM, james from wrote:

Why can't US car manufacturers compete with Hyndai in Montgomery and all the other foreign car manufacturers anyway? They could make money if they would and would not need our tax money....

On 9/27/11 at 06:41 AM, THOMAS E from hartselle wrote:

The bailout was for UAW.

On 9/27/11 at 07:20 AM, JOHN N from wrote:

Once again the editor shows his ignorance.

On 9/27/11 at 09:58 AM, DecaturResident from wrote:

So true, John. It's really embarrassing to read the Daily sometimes.

On 9/27/11 at 10:27 AM, Jennifer from wrote:

'

[Gary and Alla 3,694]

I wonder why they get a brain fart when ot comes to offering incentives to business to not avoid our labor laws by exploiting illegal aliens for cash?

How about an $8000 incentive for every LEGA worker hired. How about a $500,000 tax on every illegal hired?

It seems that hte ability to influence behavior with taxes vanishes when it comes to the problem of how to deal with the problem of illegal aliens.

[웃 910]

I wonder why they get a brain fart when ot comes to offering incentives to business to not avoid our labor laws by exploiting illegal aliens for cash?

How about an $8000 incentive for every LEGA worker hired. How about a $500,000 tax on every illegal hired?

It seems that hte ability to influence behavior with taxes vanishes when it comes to the problem of how to deal with the problem of illegal aliens.

The thread is about the auto bailout

[Obama 2012 1,714]

http://stompmud.com/2011/09/unions-1-taxpayers-0/

We all know that workers deserve to be compensated appropriately and that the new UAW signing bonus is a good deal. What about the taxpayers though and the estimated $14.33 billion loss that we are taking?

It just goes to show that Washington has special interests from all sides. If Washington really cared about all taxpayers, then they’d demand repayment of all bailout money before letting a new UAW contract take place that offers such a good deal. Sure the dollars and cents in the UAW deal are a lot smaller, but sometimes principle is an important avenue to stand on. After all, while Auto workers might be getting back to work, what about the other 9% of unemployed Americans that could benefit greatly from an extra $14 billion back in the coffers? Some food for thought.

[MyLittlePony 340]

Give Obama credit he is trying hard to help people out in the years of pres Bush he never cared he was a war monger.

[slim 1,525]

Moreover, the U.S. government has so far recouped all but $14.3 billion of the investment. It was by far the most cost-effective effort the government took in combating the recession.

I wonder if they counted the $24,000 we paid for each vehicle under the cash for clunkers program in there as well? That'd be another $3 billion we'll never get back and we're paying interest on.