Wednesday, 16 November 2011

ANOTHER OBAMA "SUCCESS" THAT ISN'T

Ken Berwitz

This one doesn't need much explaining.

Excerpted from David Shepardson's article in the Detroit News:

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline.

In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.

The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.

There you have it:  the great "success" that Obama & Co. have been patting themselves on the back for since bailing out GM and Chrysler.

Well, they're right for some folks:  it certainly has been a rousing success for the auto unions, which continue to stuff their pockets full-to-overflowing with taxpayer dollars - many millions of which will no doubt be used in an effort to re-elect their Sugar Daddy, Barack Obama.  

But how successful do taxpayers - the ones footing the bill for these money-losing bailouts - think it is?

I guess we'll find out in 2012


Buy Our Book Here!


Return to Current Blog
We're Hopelessly Partisan

hopelesslypartisan.com, is a web site which is dedicated to honest, blunt, debate on the issues of our time.


About Us



At “Hopelessly Partisan” we discuss all issues, big and small. In here, nothing is sacred and nothing is out of bounds.

So settle back, preferably after laughing your way through a copy of “The Hopelessly Partisan Guide To American Politics”, and let the battle begin. In this blog, your opinion counts every bit as much as anyone else's, maybe even more.

And to show that my willingness to provide all sides of the issues is sincere, here are links to a variety of web sites, from the left, the middle (more or less) and the right. Read them and either smile in agreement or gnash your teeth in anger!!