Please analyze the above image for a moment. Now imagine below this image I had two check boxes, one that said President Obama milestone and one that said President Obama failure, which box would you check? While supporters of the President would try to spin the above numbers, the truth is numbers don’t lie. The facts are President Obama bet on the Chevy Volt and lost. Kind of like his $535 million bet on Solyndra, which he also lost. These are bets lost with the taxpayer’s money! It is our job to share these truths with family, friends, and neighbors, particularly those who identify themselves as independents or moderates. The stakes are high my friends in the upcoming presidential election. The notion that America is immune to the kind of troubles we see taking place in other parts of the word, namely within Europe, is wrong. That’s why it’s crucial we have a change of leadership in the White House. Please share this post with others via any of the below options.
The image alone is a bit deceiving, no? GM has already repaid half of the bailout loan. If you thought our economy went through some tough times already, try to imagine how it would’ve been had the American auto industry been allowed to collapse. So many jobs are tied into the auto industry, the unemployment rate would’ve been sky high and the president would’ve been blamed for not acting when he had the opportunity. Believe me, I hate all of the government overspending and don’t approve of taxpayer money being wasted, but sometimes you have to give to get… in this case the “get” was the saving of jobs.
I don’t think it’s deceiving at all. If you believe in the free enterprise system you can’t just believe it applies to success only and not failure. In other words the same chance an entrepreneur has to succeed, he has to fail. It’s called risk taking for a reason and the government SHOULD NOT be in the business of picking and choosing who they feel is deserving of a get out of jail free card. Especially to companies who practice bad business behaviors (I can go deeper into those bad behaviors if you like, just ask) like GM has proven to do. Furthermore, this is not the first bailout GM has received either. How many times do you suggest Uncle Sam bail them out? If 2 years from now they need another bailout are you going to support that one too?
And my point about this photo was more so about the Chevy Volt specifically. At the end of the day I stand by my opinion… this was another bad bet by President Obama. That’s why the plug was pulled on its production.
I just meant deceiving (the image) in that GM has already repaid half of that number and that part went unmentioned. I agree that GM has been a very poorly run organization despite its success, but in many ways they have this country by the balls because of how many jobs their mere existence is responsible for. I believe the American auto industry is responsible for 1 in 10 jobs if I’m not mistaken. You can’t just say let them fail if you’re not prepared for the consequence as result.
It would only be deceiving if GM didn’t actually borrow the $49.5 billion. That # is 100% factual and the image conveys just that. And while they have paid a portion of those funds back, they still owe billions of dollars don’t they?
On the one hand you’re agreeing GM’s bad behaviors were wrong, while on the other you’re making justifications for them. You might not have been prepared for the consequence of overpaid UAW workers getting laid off and that’s fine. I was not prepared for the government to bailout a car company that has been bailed out multiple times already in the past.
If GM failed, it would have been their fault. The good news is a new company would have eventually taken their place and the market would have adjusted. As for the workers who sadly got laid off, well, that’s life isn’t it? No one gave me a bailout when I was laid off in 2008 at the beginning of the recession. The GM line workers would have found a job in time just like I did.
The point I was making about the deceiving image is that it appears (the image) taxpayers gave GM $50 billion and GM only produced 10,000 Volt sales as result, as if the Chevy Volt was the only reason for the bailout money. Not including how much of that money was repaid (in the image) deceives the public into believing that it was a handout that taxpayers will never see a dime of. Sure it shows factual numbers, but not telling the full story is the deceitful part.
In regards to unemployment had GM been allowed to fail, we’re not talking about just GM line workers. We’re talking GM suppliers, distributors, dealers, and so on all around the country. Think about how many parts go into making a car. Those lay offs would have a much higher impact on the economy than you’re realizing. GM and their running of the organization aside, this is what I support… the saving of the jobs. Why? Because of the direct correlation jobs have with our economy. If you just look at it as a big company getting bailed out again, then you’re missing this important point. GM can theoretically get better in terms of how they’re ran by simply appointing new leadership. Just letting them fail is not a good idea. It’s impossible to predict that another company would simply pop up in their place, creating the same amount of jobs in this country. We’re talking about the largest auto manufacturer in the world. And that’s not even taking into account the impact on our economy in between that time.
I don’t need to explain something that the Democrat Party, the mainstream media, and the President have already explained. If you’re reading my website you probably already know GM has paid a portion of the funds back (while STILL owing billion$). This image was a photo taken by me of my television. It was a snapshot of a larger conversation that was taking place. If you feel I should have been more specific about the money that was repaid, I apologize. I’ll keep that in mind for the future.
As a “snapshot” of the overall GM saga this snapshot is based on truth. It doesn’t matter how you try and slice it, those numbers are factual and, in my opinion, compelling because it shows President Obama’s irresponsibility. He’s like a kid in the candy store spending money recklessly while the national debt is a hop, skip and a jump away from $16 Trillion. The sales of the Chevy Volt were an embarrassment, no one wants them, and that is why production for it is OVER. Thanks to images like this people now know that.
As for your other paragraph… Darrell, perhaps the “largest auto manufacturer in the world” shouldn’t be the largest auto manufacturer in the world if they cannot run their company properly. The government is not supposed to be in the business of picking and choosing what companies succeed or fail. The largest shareholder of any private company should NEVER be the Federal government (even if only temporarily). That’s what countries, like North Korea, China, and Venezuela do (hint hint). The Enabler in Chief should have allowed fate to take its course; bankruptcy (just like Ford did). Wait, perhaps the $4,161,567 the UAW gave to the Democrat party, in 2008 alone, had something to do with why that didn’t happen. Let the people who mismanaged the company answer to their board of trustees, shareholders and fellow company men. Then, appoint new leadership & let the company learn the lessons it needs to learn. Like for one, not paying your union workers $15 – 20 more per hour than your competitors. Another lesson might be eliminating rules that allow workers to leave early if they finish their 8-hour workday in 6-hours, but still paying them for the full 8-hours. Or how about getting rid of bonuses, because of a few good quarters, until ***AFTER*** they’ve paid back all the money to the federal government. Talk about a slap in the face to the American taxpayer. Darrell, I find you to be on the wrong side of this argument. Your line of thinking promotes and encourages bad business behavior. I’m sorry.
Lol let’s agree to disagree. I don’t disagree with you on everything and you always bring up very valid points on many things, but looking at the whole picture with this GM bailout (or loan rather) I just feel it was a necessary move by our government.
Also, just to clarify I wasn’t blaming you for not mentioning the repayment amount, I was only referring to the TV image itself that Fox News displayed. Granted they may have very well mentioned the portion that was repaid during the broadcast, that graphic alone kind of shows what they were trying to portray to the public.
Fair enough and I understand completely. Hey, I enjoy a spirited debate on important issues, especially with a good friend. In fact, I’d like to thank you for not only reading, but taking the time to comment. I think on the general premise of overall government spending, you and I agree. It simply has to stop. And that was my logic when I initially saw this image. When you add up GM, AIG, Obamacare, Cash-For-Clunkers, Solyndra, stimulus money to build dog parks in Chulla Vista, CA (Funny, but true) and then… POP! Before you know it, the debt hit $16 Trillion, possibly another downgrade by one of the credit agencies, or worse. In the end I know we both agree that the answer is simple; Cut Spending Now.