So General Motors just had the most profitable year in their history, and recently became once again the biggest automobile company in the world, topping Toyota which had been number one under the last, and dare we say Republican, administration, during which GM was failing so badly it looked like it would become extinct, a prospect most Republicans, not just Romney, were willing to let happen, even seemed gleeful about it if it would ruin the autoworkers unions.
I wonder if the Republicans and rightwingers will give Obama any credit for these two things? Should we hold out breath?
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8 comments:
They are already rationalizing it by saying it was the structured bankruptcy that allowed them to rebound. Ignoring that the bankruptcy would not have worked without the bailout. The bailout of the auto industry is estimated to have saved 1.5 million jobs (look it up Jim) Since then the industry has been adding jobs.
JIm said...
A structured bailout would not have necessitated much if any tax payer money. Bond holders and Unions would have sacrafice equally rather than all on bond holders. Bankruptcy law would not have been violated.
February 17, 2012 6:35:00 PM EST
JIm said...
The CBO just published a report on employment, predicting years of unemployment at above 8%. The CBO also said that the real unemployment is 15% because of the participation rate. Based on that Obama deserves zero kudos.
February 17, 2012 6:38:00 PM EST
JIm said...
A structured bailout would not have necessitated much if any tax payer money. Bond holders and Unions would have sacrafice equally rather than all on bond holders. Bankruptcy law would not have been violated.
February 17, 2012 6:35:00 PM EST
JIm said...
The CBO just published a report on employment, predicting years of unemployment at above 8%. The CBO also said that the real unemployment is 15% because of the participation rate. Based on that Obama deserves zero kudos.
February 17, 2012 6:38:00 PM EST
How about a link to the CBO's report that just came out
Never mind - Jim - I've read the report and you only a little bit correct - but as often the case the quick easy comment ignores the more complex information that is in that report.
Jim's and the Repubes and Teapocrits extract segments like this, distort them out of context and then claim them as fact - a spineless, intellectually fraudulent sham.
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