Barack Obama is promising that if he is reelected, he wants to do for every industry what he did for the auto industry.
Wouldn’t that be special?
Actually the word disastrous comes to mind.
From the Detroit News:
The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.
In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.
The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share.
On Monday, GM stock was trading down 6 cents, or 0.2 percent, to $20.49. At that price, the government would lose another $850 million on its GM bailout.
The government still holds 500 million shares of GM stock and needs to sell them for about $53 each to recover its entire $49.5 billion bailout.
Treasury spokesman Matt Anderson said the costs were still far less than some predicted.
"The auto industry rescue helped save more than one million jobs throughout our nation's industrial heartland and is expected to cost far less than many had feared during the height of the crisis," Anderson said.
The Obama administration initially estimated it would lose $44 billion on the bailout but reduced the forecast to $30 billion in December 2009.
Republican presidential candidate Mitt Romney has decried the losses on the auto bailout and insisted that forcing GM and Chrysler Group LLC to go through bankruptcy first would have saved taxpayers money.
Isn’t that great.
We are losing somewhere between $25 billion and $44 billion.
How many industries can we afford for Barack Obama to help?
We cannot afford four more minutes of Barack Obama, much less four more years.
Mitt Romney is a businessman. He was right. GMC should have gone through bankruptcy. That is why our founding fathers put the provisions for bankruptcy into the Constitution.
That is why we have a free market system and why the government stays the hell out of the market place.
Permalink Reply by OneCitizenOfTheRepublic on Can we please agree on terms...
CALL IT WHAT IT IS!
F A S C I S M
"Against individualism, the Fascist conception is for the State ...
Liberalism denied the State in the interests of the particular individual;
Fascism reaffirms the State as the true reality of the individual."
Benito Mussolini
"State intervention in economic production arises only
when private initiative is lacking or insufficient,
or when the political interests of the State are involved.
This intervention may take the form of control,
assistance or direct management.
The corporate State considers that private enterprise
in the sphere of production
is the most effective and useful instrument
in the interest of the nation.
In view of the fact that private organisation of production
is a function of national concern,
the organiser of the enterprise
is responsible to the State
for the direction given to production.
The Fascist State lays claim to rule
in the economic field no less than in others;
it makes its action felt throughout
the length and breadth of the country
by means of its corporate, social, and educational institutions,
and all the political, economic, and spiritual forces of the nation,
organised in their respective associations, circulate within the State.
Fascism recognises the real needs
which gave rise to socialism and trade-unionism,
giving them due weight in the guild or corporative system in which
divergent interests are coordinated and harmonised
in the unity of the State."
Benito Mussolini
Demagogue (see also: B H Obama)
(emotive dictator)
a political leader who gains power
by appealing to people's emotions,
to their instincts, and prejudices
in a way that is
manipulative and dangerous
xxx
“There is no difference between communism and socialism,
except in the means of achieving the same ultimate end:
communism proposes to enslave men by force, socialism – by vote.
It is merely the difference between murder and suicide.”
– Ayn Rand, from “Foreign Policy Drains U.S. Of Main Weapons”.
Democracy is the road to socialism.
Karl Marx
From each according to his abilities,
to each according to his needs.
Karl Marx
The first requisite for the happiness of the people
is the abolition of religion.
Karl Marx
The meaning of peace is
the absence of opposition to socialism.
Karl Marx
The theory of Communism may be summed up in one sentence:
Abolish all private property.
Karl Marx
"Socialism is a philosophy of failure,
the creed of ignorance, and the gospel of envy,
its inherent virtue is the equal sharing of misery.."
-- Winston Churchill
Permalink Reply by Susan Wondreis on If we don,t turn this around now we will have NO more America left.How sad.Our fore fathers are rolling over in there graves.
Permalink Reply by Royce Latham on Very good!!
Permalink Reply by Mike Meeks on The unions are what put GM in trouble in the first place. Had they been left alone and filed
for bankruptcy they would be out of debt. Obama gave unions the power at GM. Can you say
the fox is guarding the hen house? He put a nut in charge of GM.
Permalink Reply by Henry Massingale on Now, there is some new laws that are old, hidden, unless you read between the lines....
If you have a car 10 years old..tags will not be issued....The Lemon Law and NAFTA with Obama.....if you will....its a twist of Laws...
Buying from a Dealer
In New York State, every automotive dealer must register with the Department of Motor Vehicles (DMV). A registered dealer must obey certain state and federal laws that protect your purchase of a new or used car, truck, or other motor vehicle, including one sold as "salvage." New vehicles are also protected by manufacturer's warranty.
When you buy a used vehicle, the dealer must certify, in writing, that it is "in condition and repair to render, under normal use, satisfactory and adequate service upon the public highway at the time of delivery." The dealer certification covers the entire vehicle except items that would be obvious to the customer before the sale, such as torn upholstery, missing hubcaps, etc. The vehicle also must have all safety equipment and emissions controls required by state and federal laws for the vehicle's model year.
READ MORE : http://www.dmv.ny.gov/broch/c18.htm
and NAFTA Approved Vehicles ...
With a permanent importation permit:
~ You can sell the car here in Mexico.
~ You can keep the car in Mexico as long as you want, regardless of INM status.
~ Mexican drivers can drive your car, without you (or some other expat) being in the car.
~ You must license the car here, and renew your State registration every year ($$).
~ You may have to pay annual State ownership taxes (tenencias $$) depending on your State’s rules.
~ You can only import 8, 9, or 10 year old NAFTA vehicles for modest import duties.
~ You pay no cash deposit when you bring the car into Mexico.
~ You do not have to go to a (non-airport) Aduana’s office every year to register your new INM permit expiration date.
Read More :http://yucalandia.wordpress.com/driving-in-mexico-issues-fun/import...
Barack Obama is a "neo socialistic demagogue."
I am especially disappointed in some of our revered Democrat leaders in the south. Such as Arkansas Governor, Mike Beebe and Kentucky Governor, Steve Bashear. They should have denounced Obama a long time ago. Instead they tried to keep a low profile. What leadership!
Not denouncing Obama,when their state voters have so soundly rejected him, lends insight into both Governor's character. Would they compromise their beliefs for the sake of the party? Or, are they truthfully nothing more than "closet liberals?" I suggest the latter!
People in both states need to wake up and realize that the Democrats of John F.Kennedy are long gone. In their place are Socialists who refuse to call themselves by what they truly represent. And so many of our people continue to buy it! I am not saying that Republicans have all the answers. They obviously don't! But they hold more commonalities with conservative causes than Democrats of today!
Southerners have been duped before. Go back to 1976, 1992 and 1996. Neither Carter or Clinton were conservatives. In fact, they were not moderates. True, both might have been slightly right of Barack Obama! It wouldn't take much to be "right of Obama!"
It begins at the state level. People in the south who are registered Democrats need to have an honest revelation. And ask one simple question: "Why are they still registered Democrats?"
"Because their father was a Democrat!"
"Because they want to vote in the local elections and their states have closed primaries."
These are pretty lame excuses. When voters start asking about the national party platform, a transformation will take place. They will see how ideologically different the parties are.
It's the first step toward "flushing the snakes from the woodpiles."
Permalink Reply by Keith Chamberlain on If you allow $40 Billion as the loss with (unlikely) 500,000 jobs saved, that is a cost of $80,000 per job.
All union jobs with a share of those union dues plus union labour going back to the Obama campaign to keep
the flow of money going.
The only jobs Obama and his pals are concerned about are their own.
Organized crime must watch in envious amazement at Obama's government at work.
Permalink Reply by Michael Goodfellow on In February, 2009, the freshly-minted President, speaking on the economy, said, “if I don’t have this done in three years, then there’s going to be a one-term proposition.”
From where this voter sits, it isn't done but is actually worse.
I echo the statement made in the article that we cannot afford for more minutes of Barack Obama, much less for more years.
In 2007 and 2008, approximately 90% of college graduates were working within a year of receiving their degree.
Less than half of graduates in 2011 can say the same, and I am one of those graduates.
When King Barack was inaugurated, I actually hoped he would live up to his hype and do well as Commander-in-Chief. At the time, I had recently finished my A.S. in Computer Information Technology and was in my Junior year at Florida Atlantic University to earn my Bachelor in Information Engineering Technology.
I figured it'd take a couple of years to get the job market going again so I was patient.
I earned my B.I.E.T. in 2011 and am still unemployed. I am registered with several job sites including Monster and CareerBuilder. I was even granted a Guest Editorial in my local paper to get my name out there.
Nothing. We are worse off than we were under President Bush.
Permalink Reply by Royce Latham on Obama is a capital M Marxist. He is a capital M Muslim. He is a capital L liar. And he is a capital F . . . no not that f word . . . he is a capital F Fraud.
Permalink Reply by Royce Latham on Obama circumvented the bankruptcy laws, in effect dismissing the bondholder's claims and giving the company to the union. Unions know nothing about profit. They only know about bankrupting companies, cities, municipalities, counties, and the federal government.
FDR said the government should not have unions.
Permalink Reply by Vern Shotwell on Article 1, Section 8, Clause 4
"To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States"
Uniform laws of bankruptcies? Totally ignored in the case of two of the three major auto companies.
The actual owners, the Secured bondholders, received 28 cents on the dollar.
These were not people, speculating on the market! Rather, people who were largely retired, or looking to retire soon. Invested in minimal return. Not unlike holders of fully secured mortgages, really. They owned the land, bricks, mortar and machines, really!
Roughly 58% percent of the value was distributed to the United Auto Worker's Union. (UAW) (not the membership thereof) The remainder distributed elsewhere, far and wide.
In the final analysis, No "uniform bankruptcy" rules were followed. And the investors, mostly older citizens, lost most of their investments. The UAW was the big winner! Having invested nothing, they became the primary owners!
Permalink Reply by Royce Latham on Vern
What we have is a lawless dictator, a spineless Congress and a corrupt judiciary. The one and his minions have no experience in this arena. They are bereft of comprehension of the myriad interactions controlled by a free market. Their short-sighted bungling is akin to killing a predator off in the natural balance, creating a host of unintended consequences. The whole Marxist idea of redistribution of wealth leads to a collapse of the incentive that drives a dynamic society.
I recommend Obama reads I Pencil.
© 2013 Created by Judson Phillips.
