Remember the TARP program? Remember when Nancy Pelosi and Barack Obama sent a letter to the outgoing President Bush asking him to put up some seed money for the Big Three automakers? Just a start, Mr. Bush, just a start. We'll take care of the rest, said Obama and Pelosi.
At that point, who knew that GM and Chrysler-Cerberus (a privately owned investment company) would fall in the category of the Troubled Asset Recovery Program?
Barack Obama: "We've got to dole out money to these companies, folks. If GM and the investment firm of Chrysler Cerberus goes down, you'll be the ones to suffer."
Oh, yeah? How? Can we suffer any more than we are now with unemployment ranging from 10 to 25 percent, depending on what you count?
But now comes this ridiculous GM ad campaign which boasts that GM has paid back the U.S. taxpayers five years sooner than expected.
So they paid back about 8 million with the money we gave to GM, and that came from an escrow account set up compliments of Uncle Sap Taxpayer. Now there's still 73 percent of the money we gave them which is yet to be paid. The U.S. still owns 61 percent of GM; the Canadians some smaller percentage; the UAW the rest.
Where's Obama during all this? Feting the Yankees? Flogging Arizonans for the Latino vote (not mentioning that a significant number of legal Latinos want better immigration control)?
I feel kind of embarrassed that Obama is so clueless about everything. It's not entirely Obama's fault--the fool has no options but to do what he's been taught to do. Besides, you can't blame a brother for trying to get over. Obama's gotten over big, that's all. Obama's gotten over on a bunch of primarily clueless white people who believe they are expiating their racial sins. I love my brown, black, red, yellow, and white brothers and sisters. We all bleed the same color. I don't have any racial sins so why should I have to pay by this bumbling amateur voted into the presidency?
I think more to blame are the people who voted him in. He's out of place in the White House. Perhaps with some years of experience he would have a clue and wouldn't be half as embarrassing.
I think the White House experience is tearing him apart. I think the Obama White House is tearing America apart. I think GM should STFU and file for bankruptcy, followed by Chrysler-Cerberus so that we can at least make a claim of their assets.
Who knows? It might defer some of the giant tax and price increases that are stomping toward us on the horizon.