Government

Obama Admin Admits: Gov’t Will Lose $14 billion on Auto Bailout

Obama Admin Admits: Govt Will Lose $14 billion on Auto BailoutWASHINGTON (AP) — The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry.

In a report from the president’s National Economic Council, officials said that figure is down from the 60 percent the Treasury Department originally estimated the government would lose following its $80 billion bailout of Chrysler and General Motors in 2009.

The report‘s release coincides with the administration’s efforts to tout the bailout’s role in the revitalization of the U.S. auto industry after last week’s announcement that Chrysler is repaying $5.9 billion in U.S. loans and a $1.7 billion loan from the Canadian government. Those payments cover most of the federal bailout money that saved the company after it nearly ran out of cash in and went through a government-led bankruptcy.

GM previously announced that it had repaid a little more than half of the $50 billion it received in federal aid.

Treasury Secretary Timothy Geithner said U.S. auto companies are now at the forefront of a comeback in American manufacturing.

“We cannot guarantee their success, and at some point they may stumble. But we’ve given them a better shot,” Geithner wrote in an opinion piece in Wednesday’s edition of The Washington Post.

“While we will not get back all of our investments in the industry, we will recover much more than most predicted, and far sooner,” he wrote.

Obama will visit a Chrysler plant in Ohio Friday to tout highlight the company’s success.

GM and Chrysler were on the verge of collapse in the final days of the Bush administration after Congress failed to approve an emergency loan package. The Bush administration gave the companies $17.4 billion in loans and required them to develop a restructuring plan by mid-February 2009.

Obama’s administration pumped billions more into the carmakers later that spring but won concessions from industry stakeholders, allowing it to push GM and Chrysler through bankruptcy court in the summer of 2009.

Comments (228)

1 2 3 ... 6
  • Richard Compton
    Posted on June 1, 2011 at 12:59pm

    The perfect example of government investment! They loose money on everything they touch, there is no government program that works as planned and throwing money at problems is all the government knows how to do, it’s time to stop the maddness and start using common since, but we’ll have to go outside of Washington DC to do that.
    No more career politions, no more lawyers we need proven business leaders who know how to get things done and how to identify problems and solve them! WAKE UP PEOPLE

    Report Post »  
    • trueblueday
      Posted on June 1, 2011 at 2:19pm

      When will Americans stop hiding under the “umbrella” of our “viable entity” of a government? We know they’re out of money, but they constantly throw our money down a black hole. So, this little scheme didn’t work, just like all the other schemes. When will they start dragging out the Community Reinvestment Act signs out again? That didn’t work either. We’re still millions of jobs in the hole. They think we forget so easily. Nope, we don’t forget, just add it to our list. Bunch of incompetent hogs on the hill. They don’t deserve to have the debt ceiling raised. There is no consideration in regards to cutting back on spending. If a calamity should befall us regarding keeping the debt limit status quo, so be it. They might not be prepared to eat hamburger versus steak, but we have been well prepared in tightening our belts. And Rangel should be put out to pasture – pay his own darn taxes.

      Report Post »  
  • elosogrande
    Posted on June 1, 2011 at 12:58pm

    Are they too stupid to understand that the government didn’t lose $14 billion, we did – because of the incompetence of our government.

    $14 billion isn’t that much. If GM & Chrysler are doing so well, they should be able to pay the taxpayers back every nickel owed with their profits. It’s okay if they break even for a few years, while paying back what they took from us. The new share holders can wait until the debt is clear, before receiving any dividend checks.

    That would be fair, Mr. President, but then again, maybe your “fair” crap only goes one way.

    Report Post »  
  • jihadazzkicker
    Posted on June 1, 2011 at 12:55pm

    Hey no problem just tax more and give it out to your unions thugs and people who do not deserve to make 15 grand a year let alone 100. Unions are done, they have no place in this country…there are too many lawyers which will stand in line to represent you for the BIG pay day especially a class action. Union workers you must be so very proud.

    Report Post » jihadazzkicker  
  • fixer
    Posted on June 1, 2011 at 12:54pm

    most of the money went to the unions,who contribute heavily to the Democrats.anybody see any corruption here besides me?Impeach Obummer or hang him for treason.either way.

    Report Post »  
  • fulcrum
    Posted on June 1, 2011 at 12:52pm

    Reason why I will not buy a GM or a Chrisler car!
    Why pay for it twice, specially when my tax dollars whent to support a bunch over paid executives and union workers

    Report Post » fulcrum  
  • Mateytwo Barreett
    Posted on June 1, 2011 at 12:51pm

    Wher’s the Weiner story??
    In a completely unrelated comment. Who ran the numbers? $14B- Bet its 2-3 times that! But it’s OK! Jeffy Eimelt will get it coming out of bankruptcy- move it to Mexico and VOILA! All of the sudden, we got illegal Emmigrants!

    Report Post » Mateytwo Barreett  
  • JoeNY
    Posted on June 1, 2011 at 12:50pm

    Instead of using the term “government” they should use “taxpayers”.

    Report Post »  
    • Mateytwo Barreett
      Posted on June 1, 2011 at 12:58pm

      You mean inreference as I, I, I, I, ME, I, I, ME, ME, I, MYSELF, MINE, ME, ME I, I, you.
      Whoops, looking at the notes from O’Bama (he’s Irish yannow) ‘s speech.

      Report Post » Mateytwo Barreett  
  • NOBALONEY
    Posted on June 1, 2011 at 12:48pm

    So doesn‘t that make Vice President Biden’s memorial weekend address another blunder. The last part should have been the lead: which was about those who served, and are serving.

    Report Post » NOBALONEY  
  • N8ive NY-er
    Posted on June 1, 2011 at 12:48pm

    Only 14 Billion .. LMAO … Let’s all go out and bye GM Trucks today!

    Report Post »  
  • jblovesAmerica
    Posted on June 1, 2011 at 12:46pm

    you can help-do not buy GM or DCX products.
    i just bought a Ford Escape-love it and everyone i dealt with bat the dealer was a dream.
    Boycott GM & DCX

    Report Post »  
  • commonsenseguy
    Posted on June 1, 2011 at 12:46pm

    people let me make my self clear, we are investing in these auto companies,and i guarantee that ,i,will see too it that every penny of taxpayers money will be returned with interest!!!!! well obama, what gives, o yeah, you need that money to pad you campaign treasure chest, you and your liberal buddies are just stupid lies, just one of many lies he ash told, the list is way to long to post here,and getting longer everyday, can’t wait to see how the media spins this,or just ignores it.

    Report Post »  
    • NEAF
      Posted on June 1, 2011 at 12:58pm

      Let make him pay out of his own pocket.

      Report Post » NEAF  
  • BrandyWilson
    Posted on June 1, 2011 at 12:45pm

    Obama’s math is as bad as his policies!

    Report Post »  
  • FREDD The WILSON
    Posted on June 1, 2011 at 12:45pm

    14 billion here 20 billion there add 14 or so trillion… No problem. obama will keep printing more green, distroy what is left of our economy, then he will tax everyone but the rightful ones into oblivion.Right Charlie Rangel?

    Report Post » FREDD The WILSON  
  • Johnny1943
    Posted on June 1, 2011 at 12:44pm

    Guarantees the union vote for Obummer in 2012. Does nothing for the bond holders,

    Report Post »  
  • Blackhawk1
    Posted on June 1, 2011 at 12:42pm

    “Treasury Secretary Timothy Geithner said U.S. auto companies are now at the forefront of a comeback in American manufacturing.” This coming from a tax cheat who never had a job in the private sector. I wonder if these liberals realize just how stupid they sound?

    Report Post » Blackhawk1  
  • rthudgins
    Posted on June 1, 2011 at 12:41pm

    So what’s so new about that, we knew that they would not pay it back and so did the obama admin.

    Report Post » rthudgins  
  • Darmok and Jalad at Tanagra
    Posted on June 1, 2011 at 12:38pm

    And we could have bought how many cars for that amount? And yet we are still looking at a company that is still shaky.

    Report Post » Darmok and Jalad at Tanagra  
  • adouglass1
    Posted on June 1, 2011 at 12:38pm

    Typical but just depressing. Federal Government should just be disbanded and states should take over. The government seems to be just making dumb move after dumb move very much on purpose.

    Report Post » adouglass1  
    • CatB
      Posted on June 1, 2011 at 12:58pm

      Going back to the Consititution and the original intent of the founders would do almost that … only those things listed as being Fed should be .. like defense .. perhaps then they would “have time” to secure the border (okay I know wishful thinking!).

      TEA!

      Report Post »  
  • Skippy Toes
    Posted on June 1, 2011 at 12:37pm

    It’s like trying to keep your teenagers out of trouble.

    Report Post » Skippy Toes  
  • jado1981
    Posted on June 1, 2011 at 12:37pm

    Wait, I thought it was a good idea?!? It was important that we save the auto union, wasn’t it?
    (sarcasm noted)

    Report Post »  
  • Skippy Toes
    Posted on June 1, 2011 at 12:36pm

    It never ends.

    Report Post » Skippy Toes  
  • TheLascone
    Posted on June 1, 2011 at 12:36pm

    They are trying to bring this country down !
    http://www.flickr.com/photos/23630227@N06/5783234943/in/photostream

    Report Post » TheLascone  
  • RightUnite
    Posted on June 1, 2011 at 12:35pm

    Soooooo, who wasn’t aware we were getting screwed when GM got their bailout???

    Report Post »  
    • N8ive NY-er
      Posted on June 1, 2011 at 12:50pm

      I agree

      Report Post »  
    • Disc_Coastie
      Posted on June 1, 2011 at 1:07pm

      …. not to mention that the Preferred Bondholders really got the shaft!! The government seized the assets of the Bondholders and gave them to the UAW, a blatantly illegal move.. one of many for this disgraceful administration.

      Progressives are a Cancer, 2012 continues the Cure!

      Report Post » Disc_Coastie  
    • Mandors
      Posted on June 1, 2011 at 1:08pm

      Never will buy GM again. Billions to bailout over paid union button pushers.

      Boycott Obamamotors!

      Report Post » Mandors  
    • tifosa
      Posted on June 1, 2011 at 2:04pm

      This is 17.5% of the bailout, which started under Bush. To most of America (not in here where the call is to “BUY FOREIGN”) this is a success!! Put confederate flags in the back windows of your Toyotas? (hehe)

      Report Post » tifosa  
    • Blackhawk1
      Posted on June 1, 2011 at 3:48pm

      tifosa

      It figures that only a big government liberal would call a 17.5% loss of taxpayer dollars a success. You must be one of the liberals that gets more money back at the end of the year in the form of a refund than you paid in taxes.

      Report Post » Blackhawk1  
  • Thorkratos
    Posted on June 1, 2011 at 12:35pm

    Who didn’t see this one coming?

    Report Post » Thorkratos  
    • vennoye
      Posted on June 1, 2011 at 12:54pm

      I am sooooooooooooooo suprised…………….NOT!! You could see this one coming a mile away…just like the rest of the ideas this “most intelligent” 44th has done…….. Think my 5 year old grandson has more financial savvy!

      Report Post » vennoye  
    • Drum Man
      Posted on June 1, 2011 at 1:09pm

      Everything this baffoons admin touches turns to crap.

      Report Post » Drum Man  
    • HorseCrazy
      Posted on June 1, 2011 at 1:12pm

      your grandson does have more financial savvy I know my 7yr old boy does!

      Report Post »  
    • REETZBEE
      Posted on June 1, 2011 at 1:40pm

      Obama’s plan to push this country over the cliff is working well.

      Report Post » REETZBEE  
    • GeorgieJo
      Posted on June 1, 2011 at 2:10pm

      Campaign slogan for Obummer
      14 BILLION LOST in autoBAILOUT
      See you chumps I promised you CHANGE

      thank goodness I drive a FORD!!!!!!!!!!!!!

      Report Post »  
    • silentwatcher
      Posted on June 1, 2011 at 2:25pm

      Well, didn’t Soros have a reputation for collapsing countries? Why wouldn’t we be next. Collapse this one and others will fall. More bang for the buck.

      Report Post »  
    • Robert-CA
      Posted on June 1, 2011 at 2:35pm

      THORKRATOS
      Posted on June 1, 2011 at 12:35pm
      Who didn’t see this one coming?
      ______________________________
      The Lib LOONS .

      Report Post » Robert-CA  
    • MIBUGNU2
      Posted on June 1, 2011 at 5:47pm

      That’s going to go on his Permanent Record, for sure..

      This election Bama will have a Record, But he’ll blame Bush !!

      “I inherited that record from Bush” absolutely NO accountability !

      Report Post » MIBUGNU2  
  • Gonzo
    Posted on June 1, 2011 at 12:35pm

    Say it isn’t so! Barry said it was a good “investment”.

    Report Post » Gonzo  
    • drattastic
      Posted on June 1, 2011 at 12:40pm

      Government made a bad investment ….shocking ! Hell by their standards only losing 14 billion is pretty good.

      Report Post » drattastic  
    • The_Almighty_Creestof
      Posted on June 1, 2011 at 12:40pm

      Then I want a free car you freaking thieves!

      Report Post »  
    • SavingtheRepublic.com
      Posted on June 1, 2011 at 12:41pm

      ^____^____^
      Pls when BHO gives investment advice run for the hills…

      “Govt will lose….” In other words YOU America lost $14Billion on a “too big to fail” company! DC lost nothing they gamble with OUR money and p*ss it away b/c its literally not out of their pocket. Corrupt to the core and no one will do anything but come on hereand elsewhere bitching n’ moaning.

      When will it be enough? Dont answer b/c we have already sen the answer to that NEVER. We have been red lined daily and the sheep just keep plugging away like the world is sunshine and rainbows.

      Report Post » SavingtheRepublic.com  
    • AKMIIKEUS
      Posted on June 1, 2011 at 12:41pm

      So it would of been better to not have bailed the auto industry out and have 100 thousand plus unemployed???

      Wow, how patriotic.

      Report Post » AKMIIKEUS  
    • Obama Snake Oil Co
      Posted on June 1, 2011 at 12:42pm

      But what about that Chevy Volt? Its going to save the planet, the little nesting birds and our babies….we know this was a terd when we heard it. Nice of you to give the stocks to the unions that will, again, be worthless on our dime. If you manage GM like you do the post office….what makes you think it will work? Mr President….you are and were; not a smart man. The banks are another terd on the horizon ready to be dropped…..

      Report Post » Obama Snake Oil Co  
    • Mannax
      Posted on June 1, 2011 at 12:44pm

      Not like he didn’t sell the entire U.S. a false bill of goods that he was Pro-American?

      Report Post »  
    • Darmok and Jalad at Tanagra
      Posted on June 1, 2011 at 12:47pm

      Barry was like sending Jack to the market with the cow. All he came back with is a bag of rotten beans and a big bottle of Hope and Change.

      Report Post » Darmok and Jalad at Tanagra  
    • lovenfl3
      Posted on June 1, 2011 at 12:48pm

      Funny how Ford made money during this time. Funny how Obama was so upset about the AIG bonuses (because they got a Govt. bailout) yet had no problem with the recent GM bonuses. This video http://www.youtube.com/watch?v=NLzmWGysBYA shows the selective outrage by Obama.

      Report Post » lovenfl3  
    • CatB
      Posted on June 1, 2011 at 12:50pm

      Malpractice …. fraud …. theft … payoff to UNIONS! Someone should be in Jail!

      TEA!

      Report Post »  
    • AKMIIKEUS
      Posted on June 1, 2011 at 12:52pm

      In other news, that’s much more important.
      News you won’t read about on the Blaze but is sure to piss off the Blaze readers.

      The Government Accountability Board approved recall elections for GOP Sens. Sheila Harsdorf of River Falls, Robert Cowles of Green Bay and Alberta Darling of River Hills. The GAB board found enough valid signatures to approve an election.

      Six GOP state senators are now almost certain to face recall elections next month.

      All the senators are being targeted for their support for or opposition to a bill that would curtail collective bargaining rights for most public employees. All senators being targeted also have challengers.

      All the Democrats need are 3 seats to overturn Gov Walkers anti union bill.
      Enjoy being governor Mr. Walker, your days are numbered.

      Report Post » AKMIIKEUS  
    • drattastic
      Posted on June 1, 2011 at 12:53pm

      @GONZO ..your on a roll two 1st place posts.

      Report Post » drattastic  
    • taxed
      Posted on June 1, 2011 at 1:06pm

      Shocked, shocked I tell you. There were administering it so efficiently and effectively, and really had a handle on the accounting. Gosh, I can’t wait for HusseinCare…

      http://conservativepoliticalforum.com/index.php?board=1.0

      Report Post »  
    • chazman
      Posted on June 1, 2011 at 1:20pm

      Again, if the car companies were to file bankruptcy and then spend approximately five years to reorganize, there never would have been a need for these damn bailouts! OBAMMY, and his boss George Soros, are purposly destroying our economy and our country!

      Report Post »  
    • America_First
      Posted on June 1, 2011 at 1:20pm

      This is what happens when corrupt politicians take action…at the expense of the tax payer they spend our hard earned dollars and pay off their buddies…If the market structured the bailouts…the investors would of made money…the unions would of made concessions…and the auto companies would continue to make cars…America is a capitalist country…when business big and small make it because they make a better mouse trap, the country prospers…the left and rinos aka progressive republicans are not capable of making it on their own so they create subsidies…lets cut all corporate subsidies/taxes…lower individual taxes rates stop all handouts to illegals and over the next 5 years cut welfare and all subsidies to $0.00 and watch America boom…if a 14 year old gets pregnant let their family support them if not they starve…not my problem why should I support them…

      Report Post »  
    • drbage
      Posted on June 1, 2011 at 1:21pm

      Of course, that is only a blip on the radar for them, but what about the thousands of citizens who pay their taxes(read, bailed out GM) and had invested in GM over the years through IRA‘s or 401K’s and got nothing but pretty pieces of worthless paper???

      Report Post »  
    • pajamash
      Posted on June 1, 2011 at 1:24pm

      “So it would of been better to not have bailed the auto industry out and have 100 thousand plus unemployed???”
      ____________________________________________________________________________

      As usual Mikey you make a statement that has no roots in truth. The auto manufacturers that were in distress would have declared bankruptcy. Not everyone would have lost a job like you would like to have people believe and scare them. Similar scare tactics are being used with regard to the debt-ceiling. “The sky is falling, the sky is falling”.

      Please Mikey, go back and stick your head back in the sand.

      Report Post »  
    • Blackhawk1
      Posted on June 1, 2011 at 1:26pm

      AKMIIKEUS

      Inotice you forgot some senators on that recall list of yours.Five Democratic senators are also facing a recall: Sens. Mark Miller, D-Monona, Spencer Coggs, D-Milwaukee, Dave Hansen, D-Green Bay, Jim Holperin, D-Conover, and Robert Wirch, D-Kenosha. All of which are LIKELY to lose their recall elections. The Walker Budget Repair Bill will be upheld and we will see how many unions go under when the rank and file members have a choice to not pay dues and have to re-certify every year.

      Report Post » Blackhawk1  
    • smithclar3nc3
      Posted on June 1, 2011 at 1:27pm

      O.K. That‘s what they’ll admit to but everyone knows the real number will be much much higher.

      Report Post »  
    • smithclar3nc3
      Posted on June 1, 2011 at 1:31pm

      akmike,
      It would have been better to do nothing and force the company to restructure LIKE FORD.

      Report Post »  
    • silentwatcher
      Posted on June 1, 2011 at 1:36pm

      Hey, bed partners,,,,,I’m done buying Chrysler and GM autos…..we’re only one family, but I buy a new truck every 3-4 years, my wife gets a new car every 3-4 years, and have 3 kids that I like to help buy their cars. I have bought American autos all my life, but no more. I just bought my wife a new Suburu (which she loves) and I’m looking at Toyota trucks. I WILL NOT SUPPORT YOUR GREED AND CORRUPTION ANYMORE. My kids now understand your evil ways and will not buy from you….and I have LOTS of friends who are seeing what you are doing. It’s only my little corner of the world, but as people start seeing the corruption, I hope they, too, change their buying trends- which I’m sure they will do.
      So take a hike,,,,you no longer have my support for your “too expensive, frequently recalled, union supported labor force, over rated” auto industry. I’m done with you.

      Report Post »  
    • silentwatcher
      Posted on June 1, 2011 at 1:37pm

      Get rid of the unions and you minimize the greed and corruption that has become rampant in the industry.

      Report Post »  
    • Dustyluv
      Posted on June 1, 2011 at 1:38pm

      Thats after they buy the worthless Chevy Volys?

      Report Post »  
    • tifosa
      Posted on June 1, 2011 at 1:43pm

      The all-American blazers would have liked to see the auto industry in the USA tank. Ford couldn’t have survived if the others had gone under because the auto parts (for example) suppliers wouldn’t have survived.

      Report Post » tifosa  
    • silentwatcher
      Posted on June 1, 2011 at 1:43pm

      And what is equally disturbing, besides the American taxpayer ‘losing’ 14 billion bucks,,,,is,,,,,think about it,,,,,where did that 14 billion buck go? It didn’t disappear,,,,,,where did it go???? think about it and the it could really, really piss you off.

      Report Post »  
    • silentwatcher
      Posted on June 1, 2011 at 1:49pm

      America is being raped. It’s happening in many different avenues within our system,,,,,,but it’s being literally raped. When I say America,,,I mean the American taxpayer.

      The evidence is right before your eyes,,,,,just have to dig a little deeper to find the proof. I don’t need proof,,,,the evidence is enough.

      Report Post »  
    • Snowleopard {gallery of cat folks}
      Posted on June 1, 2011 at 1:55pm

      So they have lied to us again from the beginning, and we take, once again, a net loss? What else is new, and no suprise to almost everyone outside of the administration and the acadamians?

      Report Post » Snowleopard {gallery of cat folks}  
    • forestnomad
      Posted on June 1, 2011 at 1:57pm

      You morons. You keep saying stuff like: “Again, if the car companies were to file bankruptcy and then spend approximately five years to reorganize,“ and ”The auto manufacturers that were in distress would have declared bankruptcy.”

      Its shows a fundamental ignorance about how the corporate bankruptcy process works – now read this slowly: When a company declares bankruptcy they are saying they don’t have money, now if a company wishes to continue operating WHILE they are negotiating with their equity and debt-holders they have to spend money, right? If you remember back, which you apparently don’t try, financing was EXCEPTIONALLY difficult to acquire at that time – and one would pretty much say impossible. This means they would NOT, as you like to imply, been able to remain as a viable entity after undergoing the entire bankruptcy process – they would most certainly have been forced to begin liquidating – as would many of the small businesses, suppliers, and ancillary sellers.

      So please spare me your ‘blah blah blah simple bankruptcy awesome’ mouth-breathing garbage. Things are not as simple as you have them out to be.

      Report Post »  
    • silentwatcher
      Posted on June 1, 2011 at 2:10pm

      to FORESTNOMAD

      Whatsamatter,,,,,you don’t like the opinions of others? if not,,,you are out of place here-a place where people come to make comments about their discontent. Name calling and insults to people who have their own opinions???

      I say the companies should fail due to the corporate greed and corruption. I’m done with the American auto industry.

      Report Post »  
    • streetrodder
      Posted on June 1, 2011 at 2:12pm

      @The Allmighty Creestof. I want the money back to go by a Ford.

      Report Post »  
    • RepubliCorp
      Posted on June 1, 2011 at 2:13pm

      AKMIIKEUS I would rather give the money to our military families than a bunch of union thugs!

      Report Post » RepubliCorp  
    • TSUNAMI-22
      Posted on June 1, 2011 at 2:14pm

      Cash for 2012 votes. Simple.

      Report Post »  
    • SLAPTHELEFT
      Posted on June 1, 2011 at 2:21pm

      Who cares anyway? I mean its not “their” money they are losing. I’m sure all these scoundrels have experienced investors hadling “their” money and stupid investments like these would not be allowed.

      Of course if its other peoples money and it goes toward propping up union pensions, well we had to do it or the ice caps would melt……

      Report Post » SLAPTHELEFT  
    • Eric_The_Red_State
      Posted on June 1, 2011 at 2:22pm

      How to be a BILLIONAIR!! in 3 easy steps

      FIRST – Get 2 billion dollars
      SECOND – Ask the government for help
      THIRD – Poof – your 2 billion dollars instantly becomes 1 billion dollars.

      Report Post » Eric_The_Red_State  
    • SLAPTHELEFT
      Posted on June 1, 2011 at 2:25pm

      Amiikeus you are a freakin moron. Nothing you post has any meaning.

      But to try and answer your stupid question with a stupid answer- yes. YESYESYES.

      If youre company sucks you go under. Find another job. Are you little pathetic gov’t employed lefties too stupid to do anything other than work in failing industries? Why is it that you little commies always need people to stop what they are doing to try and save you from yourself?

      Report Post » SLAPTHELEFT  
    • Jefferson
      Posted on June 1, 2011 at 2:34pm

      On Sept. 10th, 2001 Rumsfeld ADMITTED that the Pentagon couldn’t account for 2.3 TRILLION
      (yes with a T) DOLLARS.
      http://www.youtube.com/watch?v=xU4GdHLUHwU

      Imagine how handy that money would come in now. And people are pi$$ing and moaning about 14 million?? WAKE UP!!
      RON PAUL 2012 “RESTORE AMERICA NOW”

      Report Post »  
    • kaydeebeau
      Posted on June 1, 2011 at 2:35pm

      seems that if …“We cannot guarantee their success, and at some point they may stumble…” it would have been far better and cheaper to let them fail to begin with and really rebuild after a real bankruptcy like any other non-union-in-the-tank-for-obama company would have had to do

      Report Post » kaydeebeau  
    • Dale
      Posted on June 1, 2011 at 2:36pm

      AKMIIKEUS
      So it would of been better to not have bailed the auto industry out and have 100 thousand plus unemployed??? Wow, how patriotic.
      ———————-
      What part of the $140,000 for each of the 100,000 saved jobs are you willing to pay? I suggest that you and your like-minded friends pick up the tab. THAT WOULD BE PATRIOTIC!

      Report Post » Dale  
    • capitalismrocks
      Posted on June 1, 2011 at 2:37pm

      I condemned this bailout from day one. GM shouldve filed for bankruptcy and shouldve gone through a MA Bell type breakup into 7-8 smaller leaner companies and shouldve been moved around the country to decentralize all of the auto industry in just Detroit, wouldn‘t have cost the taxpayers a dollar and would’ve created a whole new group of competing auto companies to innovate and create better cars, instead Obama wastes $50 bill and we get the Obamamobilw Volt- a car no one wants, twice the price of it’s competitor and costs tax payers nearly $7k for everyone sold

      Report Post » capitalismrocks  
    • Jefferson
      Posted on June 1, 2011 at 2:38pm

      Correction 14 billion (with a B)

      Sorry..

      It’s STILL small potatoes compared to 2.3 TRILLION

      Report Post »  
    • Clive
      Posted on June 1, 2011 at 2:39pm

      money well spent… i think thats about the cost of 2 weeks of war.
      personally, i’d rather spend my tax money on americans, and saving their jobs, then “spreading freedom” for those dogs in the middle east. time to reassess priorities.

      Report Post »  
    • TexasCommonSense
      Posted on June 1, 2011 at 2:44pm

      AKMIIKEUS, there wouldn’t have been “100 thousand plus unemployed”. The company would have emerged from bankruptcy to operate more efficiently. Something the government knows nothing about. Everything the government runs loses money.

      Report Post » TexasCommonSense  
    • smithclar3nc3
      Posted on June 1, 2011 at 2:55pm

      Those numbers don’t even take into consideration all the tax dollars that went to automakers and dealers under cash for clunkers. Or the billions that are going to be put in subsities for the 80,000 dollar volt that sales for 39,000 and then get a 7,500 dollars green credit…so that’s 41,000 to GM and 7,500 to the dealer for a grand total of 48,500 in tax dollars per Volt. Basicly tax payers are paying more for thye Volt than the actual costumers…..WOW

      Report Post »  
    • silentwatcher
      Posted on June 1, 2011 at 2:59pm

      Do you think the U.S. Gov’t will operate more efficiently when they complete a bankrupsy? It scares me to think about it.

      Report Post »  
    • Obama Snake Oil Co
      Posted on June 1, 2011 at 3:23pm

      AKMIIKEUS
      At least try to post the facts and not conjecture…you sound like the typical blitherskite. OK, you screwed up and voted for the worst president in the history of America, don’t flaunt you intelligence to leave no doubt…
      http://host.madison.com/wsj/news/local/govt-and-politics/article_a1d669c2-8ba2-11e0-aa90-001cc4c03286.html

      Report Post » Obama Snake Oil Co  
    • forestnomad
      Posted on June 1, 2011 at 3:28pm

      @silentwatcher

      Did you feel like contributing anything to my assertions that had the government not rescued GM that a restructuring process was not in the least a viable option – or do you just like calling people names?

      Report Post »  
    • restorehope
      Posted on June 1, 2011 at 3:31pm

      The argument that it was okay to bail out the auto companies because thousands would lose their jobs is a feeble one. How about all the small companies which have had to fold and their employees lost their jobs as well? Why were auto jobs more important to save? Aren’t all workers created equal?

      The criteria for saving companies evidently is whether you are a union shop or not. The libs/progressives are so indebted to the union vote that they had to bail out the auto companies to keep the unions happy. Meanwhile, the average non-union worker is out of luck…and out of a job. Shame on you, current administration, for bowing to the union label and ignoring the rest of America.

      Report Post »  
    • teapartyconservatism
      Posted on June 1, 2011 at 3:38pm

      Obama’s father precluded his being a “natural born citizen” meaning born on U.S. soil of U.S. citizen parents; he is further ineligible by dual citizenship for being born a British citizen pursuant to the British Nationality Act of 1948, as his father was a British citizen of colonial Kenya.[1]

      The Art 2, Sec 1, exemption from being a NBC, “or a citizen of the United States …” wasn’t needed if NBC means just a citizen!

      Each authoritative definition of a NBC stipulates citizen parents (plural). First Congress, Ses II, Chp 3, Sec I, 104, 1790: “the children of citizens.” Bingham, House floor, 1866: “of parents not owing allegiance.” Supreme Court, Minor v. Happersett, 1874: “of parents who were its citizens.” Senate Res 511, 2008: “born to American citizens.”

      Congress is hiding behind the birth certificate controversy rather than act and jeopardize reelection. Their deceptive dereliction of duty was deftly codified by rhetorically requesting guidance from the CRS on just the birth certificate issue. The expected reply was the infamous Maskell memorandum.[2]

      Demand congress immediately remove Obama in accordance with their oath to support and defend the Constitution against all enemies, foreign and domestic.

      1. Donofrio, http://www.wnd.com/index.php?fa=PAGE.view&pageId=134881

      2. Maskell, http://www.scribd.com/doc/41131059/CRS-Congressional-Internal-Memo-What-to-Tell-Your-Constituents-Regarding-Obama-Eligibility-Questions

      Report Post » teapartyconservatism  
    • MIBUGNU2
      Posted on June 1, 2011 at 3:45pm

      Want me one of dem dare chevy volt’s, soonis I fin me a plugin !!

      No Suprise here, Move along !! Just another reason, we can push

      for NOBAMA-2012, Good Call Barry !!

      Report Post » MIBUGNU2  
    • MIBUGNU2
      Posted on June 1, 2011 at 3:49pm

      @ akmikeUS
      Bet we will hear all about this on MMMsn, NOT !!!!
      Want me one of dem dare chevy volt’s, soonis I fin me a plugin !!

      No Suprise here, Move along !! Just another reason, we can push

      for NOBAMA-2012, Good Call Barry !!

      Report Post » MIBUGNU2  
    • UPSETVET
      Posted on June 1, 2011 at 3:58pm

      Oh boy, we American taxpayers stand to lose JUST $14 billion on the auto industry Obama bailout. I don’t feel good about this GREAT NEWS for some reason. The money lost probably would be enough to purchase a new automobile for every American family. But, we won’t get a car, we got the “shaft”.

      Treasury Secretary Timothy Geithner makes it sound like we really got a good deal, after all we didn’t lose a larger amount that was predicted and expected. Well, when the final figures are released don’t be surprised if the loss is a great deal more than the $14 billion figure realeased to the public.

      Report Post »  
    • De minimus
      Posted on June 1, 2011 at 4:00pm

      Geee! I didn’t see that one coming! I sure our “free” media will dutifully ignore it.

      Report Post » De minimus  
    • gotta light
      Posted on June 1, 2011 at 4:14pm

      who didn’t see this one coming? NoMomma Obama!
      who couldn’t have predicted this one? NoMomma Obama!
      who will give them mo money?!?! NoMomma Obama!

      who hasn’t got a clue?!?! NoMomma Obama!

      hey bud gotta light?

      Report Post » gotta light  
    • encinom
      Posted on June 1, 2011 at 4:17pm

      Thousands still employed and new plants coming online, yes it was a good investment.

      Report Post »  
    • 101
      Posted on June 1, 2011 at 4:46pm

      Despite the government bailout of the detroit GM auto maker and
      In the wake of Osama Bin Laden’s death, Muslims have gone on the
      rampage in Detroit, Michigan killing anyone who is Caucasian …Police
      fear the death toll could rise as high as 2.

      Report Post »  
    • avenger
      Posted on June 1, 2011 at 5:10pm

      not to worry..its only tax $$$$….

      Report Post »  
    • snidley-whiplash
      Posted on June 1, 2011 at 7:47pm

      We the middle class tax payers only lost 14 billion.
      Cost the government not one damn red fiat cent.

      Report Post » snidley-whiplash  
    • TomFerrari
      Posted on June 1, 2011 at 8:59pm

      And we were the idiots for “claiming” we would lose money.

      Report Post » TomFerrari  
    • Wilkins
      Posted on June 1, 2011 at 9:20pm

      What in all of this excuses betraying GM bond holders? What justifies punishing successful enterprises (e.g. Ford) by rewarding failure? What makes it OK to abandon the free market and rush to embrace a command economy?

      The moral hazard created by this interventionist ‘too big to fail’ nonsense will suck the life out of American exceptionalism for years to come.

      Why cheat GM & Chrysler out of the right to drive their businesses into failure, and companies with working business plans out of the priviledge of picking any assets of value out of the carcasses of GM & Chrysler liabilities?

      If there’s any market for the product, Ford, Toyota, Honda etc. could have rescued this production capacity at no cost to the taxpayer and great reward to their shareholders.

      Report Post »  
    • zoose
      Posted on June 1, 2011 at 11:38pm

      All that money went to the unions and they own 39% of GM and 55% of Chrysler. Yep Government motors. I’m so glad Obama fixed this.

      Report Post » zoose  
    • Mikeyyy
      Posted on June 2, 2011 at 3:25am

      ah shucks, i was thinking that this government move was going to finally be the one that was successful…silly me.

      dont kid yourself: all politicians are worthless

      Report Post »  
    • hud
      Posted on June 2, 2011 at 9:38am

      It’s called funneling money to your friends, and supporters, another form of voter fraud. In Eco 101 a hundred years ago, I learned that debt is slavery. Get used to the whip fools.

      Report Post »  
    • Bluebonnet
      Posted on June 2, 2011 at 9:42am

      I didn’t attend Harvard, but I knew the bail-out was not to save a company or jobs, it was only to save the UNION. So, look at the pig in a poke we got for this error of judgement, except it wasn’t an error, it was planned to support the Union and all their corruption so they could give bigggg donations to that infidel who planned this disaster on advice of his Marxist buddies. Talk about no-love of Country. We’ve just had a big dose of it.\And it continues. Four more years and our wonderful Country will be owned by China and/or other corrupt people who plan to OWN us. We can then all experience what it’s like to be slaves so Clyburn, Jackson & their ilk can finally shut up and be smug.

      Report Post »  
    • wbedding
      Posted on June 2, 2011 at 12:26pm

      and they are still producing crap…just like the administration that gave them my money.

      Report Post » wbedding  
    • Dio fan
      Posted on June 2, 2011 at 2:47pm

      @ Gonzo…
      By government standards 14b loss is almost a gain. However I wonder what accountability is involved with the repaid loans? Since the ‘bailouts’ have now been laundered, will they now disappear into politicians pockets, and projects, instead of being returned?

      Report Post » Dio fan  
    • Meyvn
      Posted on June 2, 2011 at 3:07pm

      Genius. Not!

      Report Post » Meyvn  
    • ConstitutionalPatriot
      Posted on June 2, 2011 at 3:53pm

      That is a good investment for this government… They tried desperately to lose the whole $80,000,000,000.00, (that they told us about).

      Report Post » ConstitutionalPatriot  
    • Bluebonnet
      Posted on June 2, 2011 at 4:42pm

      How does everyone like this Hope and Change??? Fished in my pockets just now and all I could find was a nickle, screw en a dime. Is that hope & change for ya? Not my idea of a good time. Fire ‘em

      Report Post »  
    • silentwatcher
      Posted on June 3, 2011 at 2:05am

      to FORESTNOMAD…..

      I think you are a little ‘dizzy’ because it was YOU who did the name calling……and you twist it around to make it look like it was I who was calliing names. don’t believe me??? all you have to do is scroll back for proof. Your acts resemble that of a progressive liberal……are you one??

      Report Post »  
1 2 3 ... 6

Sign In To Post Comments! Sign In

Sign Up For Our Newsletter!

Glenn Beck Radio

Listen to Glenn Beck 24/7 Listen Now
Restoring Love