You are here: Home » Economy »

Obama Falsely Claims That GM Repaid Bailout… Again

June 8, 2011 4:08 pm 0 comments

Share this Article

Author:

Todd Kinsey

Tags:

By: pajamasmedia.com

For the second time President Obama has falsely claimed that General Motors repaid the bailout they received from the American taxpayers.

The first time Obama lied to the American people about GM repaying its loan was in April 2010. This past Saturday the president was at it again telling a crowd in Ohio “Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency.”

Glenn Kessler does an outstanding job ripping the president apart at his blog the Fact Checker but the key to Obama’s argument are the words “during my presidency.” You see President Obama is just playing politics by not counting the first bailout that GM received while President Bush was still in office. It has gotten to the point that if Obama is speaking you can assume he’s lying. This guy makes Bill Clinton look like Abe Lincoln.

The president also touts the fact that the administration is in the process of completing its divestiture of GM stock. On the surface this sounds great but according to the Wall Street Journal, the government still owns some 500 million shares and is selling them at nearly a fifty-percent loss of the taxpayer’s hard earned money. When all is said and done, Italian automaker Fiat will own a majority stake in General Motors with the United Auto Workers owning the other forty-six percent.

When you think about it the UAW made out like bandits. They made just over $23 million in donations to the Democrat Party from 2000 to 2008, with over $4 million going to Obama, and walked away with significant ownership in the world’s second largest auto maker. Not a bad return on their investment wouldn’t you say? A $4 million investment gets you a forty-six percent stake in a company with a market cap (value) of $45 billion.

Leave a Reply


Trackbacks

Other News

  • National President Obama’s Double Standards When Muslims Murder Non-Muslims

    President Obama’s Double Standards When Muslims Murder Non-Muslims

    The tragic murder of three people and wounding of 180 others, many grievously by two Muslim brothers with the 19-year old brother surviving his older brother has echoes of the 11/05/2009 Fort Hood massacre by U.S. Army major Nidal Hasan that caused 42 casualties,13 killed, 29 wounded.

    In both cases, President Obama warned against “a rush to judgment”. Most recently: “That’s why we take care not to rush to judgment – not about motivations of individuals, certainly not about entire groups of people.”

    A significant difference, concerning the Boston bombing: Obama said “the FBI was investigating the twin bombings as a terrorist act”.

    Read more →
  • 2nd Amendment Texas Temple Tx Police Illegally Disarm And Arrest Active Duty US Army Sergeant

    Temple Tx Police Illegally Disarm And Arrest Active Duty US Army Sergeant

    Temple Texas is the last place you’d expect police to bring tyranny to it’s citizens, but in the video shown below, the police are shown illegally disarming and arresting Christopher Grisham, an active duty US soldier while on a rural hike to help his son earn an Eagle Scout badge.

    Why was he detained? The first responding officer said that someone called in and reported a man walking with a rifle slung over his shoulder (which is completely legal). Mr Grisham asked the officer if he explained the law to that the person that called the police. The Sergeant responded “They don’t care what the law is.”

    When he asked the officers what law he had broken, the Temple police officers invented a new crime – “rudely displaying a weapon.”

    Read more →
  • National IRS Claims That It Can Read Your Email, Text Messages and Other Private Electronic Communications Without Warrant

    IRS Claims That It Can Read Your Email, Text Messages and Other Private Electronic Communications Without Warrant

    The latest shocking story that the main stream media is sure to ignore – The IRS is now bypassing the 4th amendment and claiming the right to read through all of your email, text messages, social media pages and other private electronic communications without obtaining a search warrant.

    Via The Hill:

    The Internal Revenue Service (IRS) has claimed that agents do not need warrants to read people’s emails, text messages and other private electronic communications, according to internal agency documents.

    The American Civil Liberties Union (ACLU), which obtained the documents through a Freedom of Information Act request, released the information on Wednesday.

    Read more →
  • 2nd Amendment Ethics CA. Police Chief Ken James: Police Use Guns To Intimidate And Show Power, Not For Defensive Purposes

    CA. Police Chief Ken James: Police Use Guns To Intimidate And Show Power, Not For Defensive Purposes

    In a shocking moment caught on camera, Police Chief Ken James of Emeryville California stated that his police department did not use guns for defensive purposes. Guns were only used to intimidate and show power in order to do their jobs in a safe and effective manner.

    This bizarre statement was made during an anti-self defense conference promoting stricter gun control laws on California citizens.

    The Orwellian practice of changing the meaning and tone of language to promote the left’s agenda is quite common, but it seemed to have backfired on Chief James and only succeeded at making this police force sound like aggressive thugs. Every day we see the media try to convince the public that semi-auto rifles are military assault weapons, and that

    Read more →
  • Culture Family National It’s Time To Stop The Liberal Left From Pushing Its Agenda On The Boy Scouts

    It’s Time To Stop The Liberal Left From Pushing Its Agenda On The Boy Scouts

    Governor Perry recently took a principled stance in support of the Boy Scouts of America. The Boy Scouts are under siege from liberal activists. I want to encourage you to support Gov. Perry by helping to defeat the proposal that would encourage homosexuals to become scouts or scout leaders, which will be introduced at the BSA Board of Directors Meeting this Wednesday, February 6, 2013.

    For more than 100 years, the Boy Scouts have enjoyed a rich history and tradition of building moral character and instilling lifelong family values. However, that history is now under attack by liberal activists who want to sacrifice the Boy Scouts beliefs on the altar of political correctness. As a Scout leader recently stated, “Some Boy Scouts board members are endeavoring to force their social agenda on 3.6 million Scouts and adult leaders.

    Read more →