Joe Biden Keeps Touting The Auto Bailout
As A Success. Here’s The Full Story
Daily Caller,
by
Thomas Catenacci
Original Article
Posted By: Imright,
9/23/2020 3:24:21 PM
Democratic presidential candidate Joe Biden has touted President Barack Obama’s orchestration of the auto bailout as a major success during his campaign, but several experts have said that Biden’s version of the bailout is misguided and “exaggerated.”“President Obama and I rescued the auto industry and helped Michigan’s economy come roaring back,” Biden tweeted on Sept. 9.Biden also stated that the Obama-Biden administration “rescued” the auto industry and helped it “re-tool” in a Sept. 14 speech. Further, he said the administration saved 646,000 auto jobs in a July 2019 tweet.
Reply 1 - Posted by:
stablemoney 9/23/2020 3:46:27 PM (No. 550111)
Obama and Biden did a auto union bailout to save their behinds, plainly spoken.
8 people like this.
Reply 2 - Posted by:
Right Time 9/23/2020 4:09:11 PM (No. 550134)
If you ignore all the bondholders who got screwed in the Auto Bailout, and all the dealerships that were cut off (especially if they weren't Democrat or politically connected), and you ignore all the non-union employees at Delco and elsewhere who lost their jobs, pensions, and life savings, but remember that the UAW and GM fat cats did great, then it was a success
7 people like this.
Reply 3 - Posted by:
mathman 9/23/2020 4:19:27 PM (No. 550146)
FOLLOW THE MONEY.
Unions did very well.
No one else did.
It is all about Democrat votes from Labor Unions.
It has nothing to do with cars.
6 people like this.
Reply 4 - Posted by:
Smart11344 9/23/2020 4:28:34 PM (No. 550152)
And Joe is as proud of his Edsel when he bought it in 1957.
2 people like this.
Reply 5 - Posted by:
columba 9/23/2020 4:32:38 PM (No. 550159)
The automobile bailout under Obama resulted in a deal with the Union that destroyed the Saturn. The were reliable (no nonsense) cars.
4 people like this.
Reply 6 - Posted by:
Jiobaobubai 9/23/2020 5:08:13 PM (No. 550198)
Crappy article that lists Ford as if they participated in the theft of the American tax payer along with the garbage of GM and Chrysler. Ford did not!!!
They are the only American car company left in my opinion because of this and I'll never waste a moment of my life nor a penny of my money on the other two dirt-bag companies.
3 people like this.
Reply 7 - Posted by:
Jiobaobubai 9/23/2020 5:10:57 PM (No. 550201)
Garbage article that lists Ford along with the two thieving companies of GM and Chrysler. Those two ripped off the American tax payers and Ford did not!!! They did not take the bail outs.
Ford is the only American car company left in my opinion and I'll never have anything to do with the other two after all these years, even though I had owned some of their products in previous years.
1 person likes this.
Reply 8 - Posted by:
NHChemist 9/23/2020 5:46:17 PM (No. 550254)
The last Chrysler product I bought was in 1974. It never ran well. The last GM product I bought was in 1982 to replace the Chrysler vehicle. I had to go to arbitration because of all its problems. I replaced the GM vehicle with a Ford product, and have had Ford products ever since. I will never go back to Government Motors.
3 people like this.
The Obama/Biteme administration invented a new financial metric: Jobs Saved. On their say-so, the Media dutifully reported that, while no jobs were created by Obama, he magically prevented all existing jobs from being vaporized. 646,000 in the auto industry, according to the Light Bringer. Of course, PDJT doesn't need to resort to magical thinking - his policies stimulate the economy and allow jobs to be created.
2 people like this.
Reply 10 - Posted by:
czechlist 9/23/2020 6:13:06 PM (No. 550286)
#3 "Follow the money"
Just like 0 care was all about insurance - not healthcare
1 person likes this.
Reply 11 - Posted by:
TCloud 9/23/2020 6:32:41 PM (No. 550303)
...and, if you believe Joe now, I have a brand new 1979 Ford Pinto for you...
2 people like this.
Reply 12 - Posted by:
smokincol 9/23/2020 7:57:31 PM (No. 550359)
"...Michigan's economy come roaring back." exactly and President Donald J. Trump was the catalyst for the roaring back of the economy in Michigan. you know that, china joe, stop taking credit for something you and barry soetoro did not do. I really do not like democrat politicians.
TRUMP 2020
1 person likes this.
Reply 13 - Posted by:
Rumblehog 9/23/2020 8:13:01 PM (No. 550369)
"Cash for Clunkers" was a huge long term bust. U.S. automakers never recovered from that.
0 people like this.
Reply 14 - Posted by:
BreakRight 9/24/2020 2:21:39 AM (No. 550544)
These stories about the auto bailout never mention that stockholders lost their entire investment as part of the govt taking control of GM and Chrysler. Cost me personally about $10k.
0 people like this.
Reply 15 - Posted by:
Trigger2 9/24/2020 2:34:39 AM (No. 550549)
Yeah, it was such a rousing success that Barry forgave GM having to pay back, what was it, $30 Billion. That's $30B of your tax money that was freely given to GM that you now have to pay back from whomever it was borrowed from or where it was created out of air. Now GM is rolling in money and so is their union. How's that for economics? A winner - GM and the union. The loser - taxpayers.
0 people like this.
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