Obama Wants to Repeat “Success” of Auto Bailout With Every Industry …(Auto Bailout Cost Taxpayers $23 Billion)

Barack Obama wants to repeat the “success” of auto bailout with every industry.
The U.S. government will lose about $23 billion on the 2008-2009 bailout of General Motors and Chrysler. The extra UAW subsidies in the auto bailout cost $26.5 billion—more than the entire foreign aid budget in 2011. The Detroit auto bailout was, in fact, a UAW bailout.

The Politico reported:

“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”

Now Obama wants to repeat that “success” with every industry.
We’re screwed.

1 2 3 Newer Comments >>
`

#1 August 9, 2012 at 7:13 pm
Militant conservative commented:

Actually 42 million.
#2 August 9, 2012 at 7:15 pm
jainphx commented:

Please: Every time we say he bailed out the auto industry, we play right into their hands. He didn’t bail out the industry, he bailed out the unions. He closed all conservative leaning auto dealers, he shut out bond holders and turned the co over to the unions. The real way to have saved the Co. would have been to allow bankruptcy, but that would have given the Co. the right to rewrite the union contracts of both present and retired workers. Obama couldn’t allow that.

Now The Co. is bleeding money, hasn’t even attempted to pay down the government loans, and as usual , we the tax payers take it in the rear.
#3 August 9, 2012 at 7:15 pm
Granny commented:

Oh GREAT! Some “success” – Obama closed over 1000 auto dealerships nationwide, based almost entirely on who the owners supported politically. The unions got an illegal preference in the “bankruptcy” proceedings, which were entirely outside of bankruptcy law. The taxpayers had to bail out the pensions of all of the non-unionized workers. Worst of all, we needed to sell the shares that the government “purchased” with our bailout money for $56 per share at the IPO. They went for $33 or so a share, so we lost nearly half of our investment right there. . . and today GM shares are approaching junk bond status. We do still own more than a few of them.

This is just the biggest “success” in the history of American Business. But, what else can you expect from someone who has never worked a real job a single day in his life, not even running a lemonade stand!
#4 August 9, 2012 at 7:16 pm
Taqiyyotomist commented:

Cloward and Piven are high-fiving right now.

The goal: make America as completely and totally broke as possible.

Brewster’s Millions is the film equivalent of this regime’s goals:

SPEND IT ALL

(with nothing to show for it, of course, and in keeping with the rules)

AND YOU WIN!!!
#5 August 9, 2012 at 7:17 pm
TeachX3 commented:

” I’M THE kING OF THE WORLD! “
#6 August 9, 2012 at 7:19 pm
bg commented:

++

August 9, 2012

Obama’s massive 2nd-term industry takeover plans

[President Obama today boasted about government assistance to the
auto industry while advocating extending such “success” to “every
industry.”

A new book released this week details Obama’s second-term plans
to do just that, including federal government intervention to determine
the “value” of individual jobs in the private sector instead of allowing
employers to pay what they want.

Also on tap is the possible initiation of a massive government-funded jobs
program that could even include the re-creation of a 21st century version
of FDR’s Works Progress Administration program within the Department of
Labor.]

July 11, 2012

‘Timeline to Global Governance’ (#9)

[Means and Methods

. Unelected boards, councils and commissions. Responsibilities of government are assigned to unelected people – accountable to nobody but the people who are funding them. These unelected bodies are equivalent to communist soviets. They take direction from unseen entities usually national and international bodies to implement the policies, rules and regulations to enable the globalist agenda. …

. Regionalization. The implementation of regional, unelected government structures cannabalizes the powers of our traditional representative government structures within the legal jurisdictions we all understand. Regional structures are hidden in the sense that they are not recognized by the public and there is no accountability to the public. Here again, unelected regional commissions answer to hidden powers and they implement the agendas of those powers. The agenda is dissolution of our nation – our national sovereignty as the global governance system rises. The war in the Middle East is to create a regional governance structure MEFTA superimposed on existing governments. MEFTA will put the Middle East in the Global trading system under the WTO – which is an organization run by and for the multinational corporations. The WTO and ‘free trade’ agreements are what have been used to gut our economy. They established a rigged game in which American domestic businesses and in fact, any domestic businesses in virtually any country (except Communist China and Socialist India) can’t succeed. These agreements basically sell market share of domestic businesses to multinational corporations – who then flood the market with products (and human capital) at costs lower than the domestic businesses can attain. The domestic business goes out of business – and the multinational picks up the market share.

. Loss of Private Property Rights – including water rights. Environmental front groups are in the lead on this. The government provides the regulation making it virtually impossible for land owners to keep their property. Environmental groups like Nature Conservancy then steps in to buy the property.

. Official obliviousness to anarchists and foreigners on our soil demonstrating for rights for non-citizens. They make a pretense of protecting our borders while encouraging illegal aliens in every way possible.

. They are flooding our labor markets with cheap foreign labor – taking jobs away from American citizens which impoverishes them. It’s difficult for poor people to organize and fight back in any way other than physical destruction. The Congress has become a corrupt government that is for sale to the highest bidders. Impoverished Americans have to pull with a Congress that is bought and paid for by corporate lobbyists.

. They are selling off U.S. assets – the going out of business sale.]

much more @ link & in connecting links..

==
#7 August 9, 2012 at 7:26 pm
BurmaShave commented:

Well, at least the socialist is being a bit more open about his intentions this time around.

We don’t need a Joe the plumber moment this time around, and you can bet we aren’t going to get it either.
#8 August 9, 2012 at 7:26 pm
Mad Hatter commented:

If this idiot Marxist gets his way, he’ll green light wasteful spending for all corporations, township, and cities, because you know that’s where it will spread to.

Obama would also be green lighting no consequences for fiscal irresponsibility, and mismanagement.

The Airline Unions can demand a 30% increase in pay for their employees, the Airline agrees since they know if they get into financial trouble, Obama will bail them out.

Obama proposes this since he knows it’s an emotional topic. It’s the “I’ll save your jobs if you vote me back in.” Sadly, many people don’t think, they react, and they’ll fall for it.
#9 August 9, 2012 at 7:33 pm
Jack commented:

GM still owes us tens of Billions according to Neil Barofsky Special Inspector General for TARP and author of “Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street”. He says GM used TARP funds from the right hand to pay off TARP bailout funds from the left hand and then said they had paid off their bailout.
#10 August 9, 2012 at 7:38 pm
redneck commented:

Marxist wants to take complete control everything and everyone ……….Obama’s plans for his second term complete dictatorship….http://www.wnd.com/2012/08/obamas-massive-2nd-term-industry-takeover-plans/
#11 August 9, 2012 at 7:39 pm
Fuquay Steve commented:

It’s an Obama world where failure is success – and real success gets taxed at a confiscatory rate. Is it November yet?
#12 August 9, 2012 at 7:39 pm
Rachelle commented:

What he wants to do is take over every business in the country.

He’s a Communist. Even some Dems are finally beginning to figure that out.
#13 August 9, 2012 at 7:40 pm
Joe College commented:

This has set up the second confrontation with Drudge in less than a week. Interesting.

http://mediamatters.org/blog/2012/08/09/drudge-fabricates-obama-call-for-industry-bailo/189228
#15 August 9, 2012 at 7:46 pm
Stella Baskomb commented:

When I took econ 101, “jobs” were labor and labor was a cost of production.

Now the objective is to create jobs?

When did economics change?

The U.S. is still a manufacturing leader in the world. What’s changed is the we have become super-productive so fewer workers are needed per each unit of output. The very definition of productivity. Obama’s strategy does not appear to have a productivity component, and therefore his “jobs” will only add cost – make everything we buy more expensive.

Oh well, we can’t say now – after 3+ years – that we didn’t see that coming.
#16 August 9, 2012 at 7:48 pm
Patty commented:

OT

Artist who took credit for Torrance Chick-fil-A vandalism arrested

http://latimesblogs.latimes.com/lanow/2012/08/chick-fil-a-vandalism-graffiti-arrested.html
#17 August 9, 2012 at 7:50 pm
redneck commented:

6# sorry bg for posting the same link there……
#18 August 9, 2012 at 7:51 pm
Alana commented:

Megalomaniac.
#19 August 9, 2012 at 7:55 pm
USMC Thomas commented:

Asshat SØBama talks like some tin pot third world banana republic President For Life dictator.
#20 August 9, 2012 at 8:00 pm
Patty commented:

Talking Unions. Ot

Trumka: Romney ‘for the very rich, doesn’t identify’ with labor movement’ [VIDEO]

Labor chief, ney ‘doesn’t identify with us’ – TheDC
who makes $290,000 a year, says Rom

Read More and Watch video

http://dailycaller.com/2012/08/09/trumka-romney-for-the-very-rich-doesnt-identify-with-labor-movement-video/