When Obama took over/bailed out General Motors, 2200 dealerships were forced to close. If each one had 30 employees (sales, office, garage, parts, etc.) that is CONSERVATIVELY 66,000 JOBS LOST around the nation. Could someone explain the logic in this? Save your grey matter – I’ll tell you why. It was so Obama [a/k/a/ the government] could pump $26,500,000 into the United Auto Workers union.
The U.S. Treasury Department said it expected to lose $25.05 billion on the bailout, up from a previous estimated loss of $21.7 billion.
The government spent about $80 billion to bail out GM, Chrysler and Ally Financial, the former finance arm GMAC. So far it's gotten back just over $37 billion. But the government still owns stakes in GM and Ally that it can sell.
The government still owns about 500 million shares of GM, which would have to more than double in price to $53 each for the government to get its remaining $27 billion back.
And this stupid MOFO in the White House wants to repeat this ‘success’ with manufacturing jobs in every industry! IF THIS IS HIS IDEA OF SUCCESS, I SURE DON'T WANT TO SEE WHAT HE CALLS A FAILURE!