So hows that GM Bailout workin for us?

http://lettingfreedomring.com/2012/08/1 ... ina-video/

So if the American people could see the consequences before Obama bailed out GM, would they still think it was the right thing to do for America?

“Our commitment to working in China, with China, and for China remains strong and focused on the future.” - Dan Akerson, CEO of GM

Mr. Akerson went on to say that 7 out of 10 GM vehicles are made OUTSIDE of the United States. General Motors has been shrinking its operations in the US while aggressively expanding and investing in Communist China. How does that help with US jobs, Mr. President? And more importantly, why is the UAW still supporting him?

And how many airlines have filed for bankruptcy but are stilll in business with no bailout? Now Obama says he wants to do the same with every industry...

OBAMA: I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM is number one again. So now I want to do the same thing with manufacturing jobs not just in the auto industry, but in every industry. I don’t want those jobs taking root in places like China. I want them taking root in places like Pueblo.

Oh that's just super! Thank you Mr President, thank you for saving everybody! rofllol

I suspect the capital strike started when he hosed the bondholders.

Irony? If GM & Chrysler had failed, Honda & Toyota would eventually hire more American workers as they have been outsourcing their production to the US.

FredHayek wrote: Irony? If GM & Chrysler had failed, Honda & Toyota would eventually hire more American workers as they have been outsourcing their production to the US.

The bailout wasn't just for GM and Chrysler...it was for all the industries that supply those companies, and sell and maintain those cars.....it really would have been catastrophic if they had closed their doors......I seriously doubt that either Toyota or Honda would have come in on a white horse to save the day in the existing factories using the laid off workers, and the same suppliers and sales and maintenance networks. But it did make a cool pie-in-the-sky post.

"So now I want to do the same thing with manufacturing jobs not just in the auto industry, but in every industry."

What on earth does this statement mean? "I want to do..." Obama is going to single-handedly revive manufacturing in the US, how exactly? If he had the power to do it, why didn't he 4 years ago. Why do people even listen to this gobbledegook?

archer wrote:

FredHayek wrote: Irony? If GM & Chrysler had failed, Honda & Toyota would eventually hire more American workers as they have been outsourcing their production to the US.

The bailout wasn't just for GM and Chrysler...it was for all the industries that supply those companies, and sell and maintain those cars.....it really would have been catastrophic if they had closed their doors......I seriously doubt that either Toyota or Honda would have come in on a white horse to save the day in the existing factories using the laid off workers, and the same suppliers and sales and maintenance networks. But it did make a cool pie-in-the-sky post.

Who says they would have had to close thier doors? Airlines through bankruptcy, restructure and and keep doing business. And archer, are you not at all concerned that 7 out of 10 GM vehicles are produced outside the US and GM seems to be doing more for China than for the US these days?

archer wrote:

FredHayek wrote: Irony? If GM & Chrysler had failed, Honda & Toyota would eventually hire more American workers as they have been outsourcing their production to the US.

The bailout wasn't just for GM and Chrysler...it was for all the industries that supply those companies, and sell and maintain those cars.....it really would have been catastrophic if they had closed their doors......I seriously doubt that either Toyota or Honda would have come in on a white horse to save the day in the existing factories using the laid off workers, and the same suppliers and sales and maintenance networks. But it did make a cool pie-in-the-sky post.

Short term the Wall Street and Auto bailout was the right thing to do, although I didn't like the way the auto bailout screwed the salaried employees, but long term they really haven't fixed the reasons why these companies needed the bailouts in the first place.
It is still too expensive to build a car in America under the current UAW contracts, especially when you are competing with non-union domestic and foreign workers like Korea.

I should think by penalizing companies that off-shore jobs overseas...(or is it outsource...I can never remember)...and reward companies that create jobs here.

Seems pretty clear to me...But then, I don't have a Right-winger's myopia.

Typical "outrage". Did you check to see how many vehicles that GM sold internationally? International sales account for more than 3/4 of GM total sales. Did you bother to check that the vehicles manufactured in China actually enter the US? You guys are just pathetic.

Of course one of the biggest cheerleaders for the GM bailout was that budget and deficit wizard, Paul Ryan.