Obama Falsely Claims That GM Repaid Bailout… Again

June 8, 2011 4:08 pm 0 comments

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

  • Faith Loyalty and Enmity: Parallels between Islam and the Mafia

    Loyalty and Enmity: Parallels between Islam and the Mafia

    Editor’s note: The following is Part Two of a three-part series examining the many parallels between Islam and the mafia following Bill Maher’s recent exclamation that Islam is “the only religion that acts like the mafia, that will f***ing kill you if you say the wrong thing, draw the wrong picture, or write the wrong book.” Click here for Part One.

    Death to Traitors (AKA “Apostates”)

    Once a Mafioso takes the oath of loyalty to the mafia—including the Omertà code of silence and secrecy—trying to leave the “family” is instantaneously seen as a betrayal and therefore punishable by death. Any family member, great or small, is given authority to kill the traitor, the “turncoat.”

    Read more →
  • Economy

    Shale Support Recieves $8 Million From Deutsche Bank

    July 29, 2015 (HOUSTON) – Shale Support, LLC, a leading provider of frac-sands and logistical solutions to the oil and gas proppant market, announced today that it has closed a senior debt facility in the amount of $85 million with Deutsche Bank. This facility will allow Shale Support to continue its strategic growth pattern in the onshore oil and gas industry and position the company for further growth as drilling activity resumes. Proceeds from this facility will be used to [...]

    Read more →
  • Faith National ‘LGBT’: The ‘T’ Is For Tyranny

    ‘LGBT’: The ‘T’ Is For Tyranny

    Tranny tyranny. Strike that. “LGBT” tyranny. Lesbian, gay, bisexual tyranny. That, generally speaking, is what’s on display in Houston right now. But trust me: Unlike Vegas, what happens in Houston will, most definitely, not stay in Houston – not if Democrats continue to have their way.

    Houstonians elected themselves, as mayor, an extremist lesbian Democrat (but I repeat myself). She quickly, and quite naturally, took to doing what extremist lesbian Democrats do. Annise Parker is her name, and spreading political Ebola is her game. That and trampling the U.S. Constitution. As you’ve likely heard, Parker’s office has illegally subpoenaed the sermons and privileged communications of a number of Christian pastors who vocally opposed the city’s ironically branded “Equal Rights Ordinance” (aka, the Houston Bathroom Bill).

    Read more →
  • Faith World Muhammad and Islam’s Sex Slaves

    Muhammad and Islam’s Sex Slaves

    Once again, Islamic State Muslims are pointing to Islam in order to justify what the civilized world counts as atrocities.

    According to an October 13 report in the Telegraph,

    Islamic State jihadists have given detailed theological reasons justifying why they have taken thousands of women from the Iraqi Yazidi minority and sold them into sex slavery.

    A new article in the Islamic State English-language online magazine Dabiq not only admits the practice but justifies it according to the theological rulings of early Islam.

    “After capture, the Yazidi women and children were then divided according to the Sharia amongst the fighters of the Islamic State who participated,” the article says.

    Read more →
  • Economy

    Texas Water Pump Builder, Gator Pumps, Is Helping Panama’s Rice Farmers

    Changing weather patterns and unusually dry conditions are having a serious impact on rice and sugar cane production in Central America and El Niño year is certainly living up to its reputation. The continuing delay in rainfall will undoubtedly reduce the yield and quality of this year’s rice and sugar cane crops in several areas of Central America. When combined with an equally harsh La Niña winter, perhaps the greatest impact will be within the important bridge countries that connect [...]

    Read more →