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It's estimated Obungle's automotive bailout cost the American taxpayers between 9.3 billion and 16.6 billion dollars depending on source....7 million is chump change
That was paid back because remember it was a loan not a payoff. Loans arent tax breaks for the record
Paid back huh??
FRANCISCO (press release)—Who can forget the Democrats led by Vice President Joe Biden at their national convention in 2012 promoting the idea that Bin Laden was dead and Detroit was alive and thriving thanks to the Obama administration? In reality, Osama Bin Laden is dead, but the federal bailout of the U.S. auto industry has cost American taxpayers $10 billion, new figures disclose.
Ironically, the U.S. Treasury Department actually announced last December the official end of the automobile industry bailout after loans given to General Motors and Chrysler had been “repaid to the government’s satisfaction.” It may be to the government’s satisfaction, but what about the American taxpayer?
The initial bailout was inaugurated in January 2009, at the onset of the Obama administration, as part of the Troubled Asset Relief Program. It was designed to combat the subprime lending crisis. The Auto Industry Financing Program loaned $79.69 billion to GM and Chrysler and their in-house financing companies assuming the government would be paid back in full. The operative word is “assuming.”
Most taxpayers are unaware that a portion of funds were used to purchase majority shares of the companies. That, in effect, nationalized the auto companies, the Heartland Institute observed in a report on the end of the bailout. During this period, the government sold Chrysler to Italian automaker Fiat. The Treasury Department provided $17.2 billion in public loans to GM’s financing company, now known as Ally Financial. The company made its final repayment on December 19.
That leaves the bottom line for taxpayers to ponder: the American public recovered only $70.42 billion of the $79.69 billion loaned through the bailout program, a loss of $9.3 billion, about $65.75 per taxpayer.
Meanwhile, the Treasury Department backpedaled when confronted by the media that actually researched the Obama administration claims of solvency. Treasury defended itself by saying, “While the auto industry rescue resulted in a cost of $9.3 billion to the government, the cost of a disorderly liquidation to the families and businesses across the country that rely on the auto industry would have been far higher.” Huh?
Treasury continued, “The government’s actions not only saved GM and Chrysler but they saved many businesses up and down the supply chain.” That is a claim that can easily be refuted if the mainstream media showed any interest, which they don’t. The Obama administration may say Osama Bin Laden is dead with credibility, but to say Chrysler and GM are “alive” is only by what the government considers “alive.”
Hope your not holding your breath for the rest of that money to be paid back.
Look at the daily sales figures. You will see auto sales began going up dramatically on Nov. 9.Name the program specifically that Obama used to save jobs.
you mean other than the GM and Chrysler bailouts?
Glad you mentioned that.
It was called a bailout because it was nothing but a union pension bailout.
Unions were driving the auto industry out of the country. The same offer was made to Ford and they refused and did alright.
It was nothing but a fraud to steal from the Treasury and restructure the leadership in a private company.
Socialism 101.
I agree and they still went bankrupt which they could have done without Fed tax dollars.
Thanks Obama!
US auto sales jump more than expected in November
Nissan: 7.5% (4.6% expected)
Ford: 5.1% (0.5% expected)
Toyota: 4.3% (3.4% expected)
GM: 10.2% (9.1% expected)
Fiat Chrysler: -14% (-9% expected)
Honda: 6.5% (8.4% expected)
Volkswagen of America: 24.2%
Kia: 15.3%
Subaru: 15.3%
Porsche: 23%
After Trump won the worldwide stock markets started booming!
You can be assured had Hillary won those dramatic increases in auto sales would not have occurred.
But those producers have never been richer you fucking fool.plu·toc·ra·cy: government by the wealthy.
a country or society governed by the wealthy.
an elite or ruling class of people whose power derives from their wealth.
INEPTOCRACY - a system of government where the least capable to lead are elected by the least capable of producing and where the members of society least likely to sustain themselves (or even try) are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
It's estimated Obungle's automotive bailout cost the American taxpayers between 9.3 billion and 16.6 billion dollars depending on source....7 million is chump change
That was paid back because remember it was a loan not a payoff. Loans arent tax breaks for the record
Paid back huh??
FRANCISCO (press release)—Who can forget the Democrats led by Vice President Joe Biden at their national convention in 2012 promoting the idea that Bin Laden was dead and Detroit was alive and thriving thanks to the Obama administration? In reality, Osama Bin Laden is dead, but the federal bailout of the U.S. auto industry has cost American taxpayers $10 billion, new figures disclose.
Ironically, the U.S. Treasury Department actually announced last December the official end of the automobile industry bailout after loans given to General Motors and Chrysler had been “repaid to the government’s satisfaction.” It may be to the government’s satisfaction, but what about the American taxpayer?
The initial bailout was inaugurated in January 2009, at the onset of the Obama administration, as part of the Troubled Asset Relief Program. It was designed to combat the subprime lending crisis. The Auto Industry Financing Program loaned $79.69 billion to GM and Chrysler and their in-house financing companies assuming the government would be paid back in full. The operative word is “assuming.”
Most taxpayers are unaware that a portion of funds were used to purchase majority shares of the companies. That, in effect, nationalized the auto companies, the Heartland Institute observed in a report on the end of the bailout. During this period, the government sold Chrysler to Italian automaker Fiat. The Treasury Department provided $17.2 billion in public loans to GM’s financing company, now known as Ally Financial. The company made its final repayment on December 19.
That leaves the bottom line for taxpayers to ponder: the American public recovered only $70.42 billion of the $79.69 billion loaned through the bailout program, a loss of $9.3 billion, about $65.75 per taxpayer.
Meanwhile, the Treasury Department backpedaled when confronted by the media that actually researched the Obama administration claims of solvency. Treasury defended itself by saying, “While the auto industry rescue resulted in a cost of $9.3 billion to the government, the cost of a disorderly liquidation to the families and businesses across the country that rely on the auto industry would have been far higher.” Huh?
Treasury continued, “The government’s actions not only saved GM and Chrysler but they saved many businesses up and down the supply chain.” That is a claim that can easily be refuted if the mainstream media showed any interest, which they don’t. The Obama administration may say Osama Bin Laden is dead with credibility, but to say Chrysler and GM are “alive” is only by what the government considers “alive.”
Hope your not holding your breath for the rest of that money to be paid back.
If Obama is responsible for auto sales, imagine what Trump is responsible for.Taxpayer money like giving away $7 million in state tax revenue?
States can spend their tax dollars any way they want to.
The Fed tax dollar shouldn't be used to bail out any company.
A distinction without a difference.
Check out auto sales for November.
New record!
Nothing yet.
I'm sure if auto sales were down, we'd be hearing about how bad Obama is.
Tell us again why they should have let them go bankrupt.
They did file for bankruptcy even with our tax dollars. They could have filed before getting our tax dollars but they needed that money to shore up those oh so pricey pensions that were mismanaged.
In this instance, there is no rational way you can prove he save any jobs, much less 1.5 million of them by bailing out GM. What we know is Saturn was phased out and so was thousands of jobs. Hummer was shipped out to China, so those jobs were lost. SAAB was sold, so any jobs related to that were lost. The US government acted as a bank and and loaned $33 billion to GM under a Chapter 11 agreement. We took a loss of $11 billion on the deal and the company was sold to another company and its board of directors including union leaders, some of which were responsible for GM's losses to begin with. I think you just made up the 1.5 million jobs saved figure. According to the White House....they saved a total of 800,000 over the last 8 years.Obama's auto bailout saved a million and a half jobs. Trump's opinion at the time? Let them go bankrupt.
He used Fed taxpayer money to bail out those companies and Fed tax dollars should never, ever be used to bail out any company.
Both took our money and still went bankrupt which they could have done without our tax money.
They used that money to shore up their mismanage pension funds. Great use of our hard earned tax dollars.
They even used TARP money, more tax dollars to pay back some of that loan and we will never see what's still owed.
Don't you wish to dispute that it saved 1.5 million jobs? lol.
It's estimated Obungle's automotive bailout cost the American taxpayers between 9.3 billion and 16.6 billion dollars depending on source....7 million is chump change
That was paid back because remember it was a loan not a payoff. Loans arent tax breaks for the record
Paid back huh??
FRANCISCO (press release)—Who can forget the Democrats led by Vice President Joe Biden at their national convention in 2012 promoting the idea that Bin Laden was dead and Detroit was alive and thriving thanks to the Obama administration? In reality, Osama Bin Laden is dead, but the federal bailout of the U.S. auto industry has cost American taxpayers $10 billion, new figures disclose.
Ironically, the U.S. Treasury Department actually announced last December the official end of the automobile industry bailout after loans given to General Motors and Chrysler had been “repaid to the government’s satisfaction.” It may be to the government’s satisfaction, but what about the American taxpayer?
The initial bailout was inaugurated in January 2009, at the onset of the Obama administration, as part of the Troubled Asset Relief Program. It was designed to combat the subprime lending crisis. The Auto Industry Financing Program loaned $79.69 billion to GM and Chrysler and their in-house financing companies assuming the government would be paid back in full. The operative word is “assuming.”
Most taxpayers are unaware that a portion of funds were used to purchase majority shares of the companies. That, in effect, nationalized the auto companies, the Heartland Institute observed in a report on the end of the bailout. During this period, the government sold Chrysler to Italian automaker Fiat. The Treasury Department provided $17.2 billion in public loans to GM’s financing company, now known as Ally Financial. The company made its final repayment on December 19.
That leaves the bottom line for taxpayers to ponder: the American public recovered only $70.42 billion of the $79.69 billion loaned through the bailout program, a loss of $9.3 billion, about $65.75 per taxpayer.
Meanwhile, the Treasury Department backpedaled when confronted by the media that actually researched the Obama administration claims of solvency. Treasury defended itself by saying, “While the auto industry rescue resulted in a cost of $9.3 billion to the government, the cost of a disorderly liquidation to the families and businesses across the country that rely on the auto industry would have been far higher.” Huh?
Treasury continued, “The government’s actions not only saved GM and Chrysler but they saved many businesses up and down the supply chain.” That is a claim that can easily be refuted if the mainstream media showed any interest, which they don’t. The Obama administration may say Osama Bin Laden is dead with credibility, but to say Chrysler and GM are “alive” is only by what the government considers “alive.”
Hope your not holding your breath for the rest of that money to be paid back.
Instead of an editorial it would be more convincing if you presented figures from people who know what they are talking about or at least links to some sort of information as a cross check.
WRONG!!!!It's estimated Obungle's automotive bailout cost the American taxpayers between 9.3 billion and 16.6 billion dollars depending on source....7 million is chump change
That was paid back because remember it was a loan not a payoff. Loans arent tax breaks for the record
Paid back huh??
FRANCISCO (press release)—Who can forget the Democrats led by Vice President Joe Biden at their national convention in 2012 promoting the idea that Bin Laden was dead and Detroit was alive and thriving thanks to the Obama administration? In reality, Osama Bin Laden is dead, but the federal bailout of the U.S. auto industry has cost American taxpayers $10 billion, new figures disclose.
Ironically, the U.S. Treasury Department actually announced last December the official end of the automobile industry bailout after loans given to General Motors and Chrysler had been “repaid to the government’s satisfaction.” It may be to the government’s satisfaction, but what about the American taxpayer?
The initial bailout was inaugurated in January 2009, at the onset of the Obama administration, as part of the Troubled Asset Relief Program. It was designed to combat the subprime lending crisis. The Auto Industry Financing Program loaned $79.69 billion to GM and Chrysler and their in-house financing companies assuming the government would be paid back in full. The operative word is “assuming.”
Most taxpayers are unaware that a portion of funds were used to purchase majority shares of the companies. That, in effect, nationalized the auto companies, the Heartland Institute observed in a report on the end of the bailout. During this period, the government sold Chrysler to Italian automaker Fiat. The Treasury Department provided $17.2 billion in public loans to GM’s financing company, now known as Ally Financial. The company made its final repayment on December 19.
That leaves the bottom line for taxpayers to ponder: the American public recovered only $70.42 billion of the $79.69 billion loaned through the bailout program, a loss of $9.3 billion, about $65.75 per taxpayer.
Meanwhile, the Treasury Department backpedaled when confronted by the media that actually researched the Obama administration claims of solvency. Treasury defended itself by saying, “While the auto industry rescue resulted in a cost of $9.3 billion to the government, the cost of a disorderly liquidation to the families and businesses across the country that rely on the auto industry would have been far higher.” Huh?
Treasury continued, “The government’s actions not only saved GM and Chrysler but they saved many businesses up and down the supply chain.” That is a claim that can easily be refuted if the mainstream media showed any interest, which they don’t. The Obama administration may say Osama Bin Laden is dead with credibility, but to say Chrysler and GM are “alive” is only by what the government considers “alive.”
Hope your not holding your breath for the rest of that money to be paid back.
One deal and already Trump has cost the tax payers $7 million. We will keep track and let you know how much he costs us in the next 4 years.
Carrier Will Receive $7 Million in Tax Breaks to Keep Jobs in Indiana
.
Oh.If Obama is responsible for auto sales, imagine what Trump is responsible for.States can spend their tax dollars any way they want to.
The Fed tax dollar shouldn't be used to bail out any company.
A distinction without a difference.
Check out auto sales for November.
New record!
Nothing yet.
I'm sure if auto sales were down, we'd be hearing about how bad Obama is.
Tell us again why they should have let them go bankrupt.
They did file for bankruptcy even with our tax dollars. They could have filed before getting our tax dollars but they needed that money to shore up those oh so pricey pensions that were mismanaged.
The failure of the auto makers had nothing to do with unions, pensions or mismanagement. They did nothing wrong.
It had everything to do with a lack of available capital due to bank failures.
But those producers have never been richer you fucking fool.INEPTOCRACY - a system of government where the least capable to lead are elected by the least capable of producing and where the members of society least likely to sustain themselves (or even try) are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
One deal and already Trump has cost the tax payers $7 million. We will keep track and let you know how much he costs us in the next 4 years.
Carrier Will Receive $7 Million in Tax Breaks to Keep Jobs in Indiana
Oh.If Obama is responsible for auto sales, imagine what Trump is responsible for.A distinction without a difference.
Check out auto sales for November.
New record!
Nothing yet.
I'm sure if auto sales were down, we'd be hearing about how bad Obama is.
Tell us again why they should have let them go bankrupt.
They did file for bankruptcy even with our tax dollars. They could have filed before getting our tax dollars but they needed that money to shore up those oh so pricey pensions that were mismanaged.
The failure of the auto makers had nothing to do with unions, pensions or mismanagement. They did nothing wrong.
It had everything to do with a lack of available capital due to bank failures.
Failing banks caused GM to go broke.
I always assumed that spending more than you take in causes you to go broke. If your product sucks and is more expensive than your competitors you don't make as much money.
Alot of things. Number one is unions, fuck-face.Oh.If Obama is responsible for auto sales, imagine what Trump is responsible for.
Nothing yet.
I'm sure if auto sales were down, we'd be hearing about how bad Obama is.
Tell us again why they should have let them go bankrupt.
They did file for bankruptcy even with our tax dollars. They could have filed before getting our tax dollars but they needed that money to shore up those oh so pricey pensions that were mismanaged.
The failure of the auto makers had nothing to do with unions, pensions or mismanagement. They did nothing wrong.
It had everything to do with a lack of available capital due to bank failures.
Failing banks caused GM to go broke.
I always assumed that spending more than you take in causes you to go broke. If your product sucks and is more expensive than your competitors you don't make as much money.
What caused them all to go down at once, dope?
But those producers have never been richer you fucking fool.INEPTOCRACY - a system of government where the least capable to lead are elected by the least capable of producing and where the members of society least likely to sustain themselves (or even try) are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
Perhaps because they are so productive, eh? You should quit whining and try it sometime, Princess.
One deal and already Trump has cost the tax payers $7 million. We will keep track and let you know how much he costs us in the next 4 years.
Carrier Will Receive $7 Million in Tax Breaks to Keep Jobs in Indiana
You are, of course, lying.
Had those jobs left the US there would have been no tax rev. As it is, we retained half the loaf and the jobs (which really seems to have pissed you off).
You do know what "tax breaks" means, right?
Maybe they do care about workers but are just stupid enough to believe that trickle down will still work if we give it more time.At no time have I or anyone I know believed in the foolishness you posted. To think your fellow Americans "don't give a FUCK about workers," just proves what a fool you are and it proves how easily you are duped by D pols and their media.My god it's like I got in a time machine and went back to 2007. You guys didn't give a FUCK about the workers. It was all about the corporations shareholders and consumers and I see you guys are going to forget about the workers again.If you think only wealthy people were GM bond holders, think again.All you care about are ceo's and shareholders. What about workers?To say nothing of how Big Ears really screwed GM bond holders, but that fact is glossed over by the left and their media.It's estimated Obungle's automotive bailout cost the American taxpayers between 9.3 billion and 16.6 billion dollars depending on source....7 million is chump change
The economy is great for rich people. Now you are back to worrying about them and not blue collar?
What about blue collar?
Don't cry when we call you out on it or point it out.
You mean good paying union jobs.Alot of things. Number one is unions, fuck-face.Oh.Nothing yet.
I'm sure if auto sales were down, we'd be hearing about how bad Obama is.
Tell us again why they should have let them go bankrupt.
They did file for bankruptcy even with our tax dollars. They could have filed before getting our tax dollars but they needed that money to shore up those oh so pricey pensions that were mismanaged.
The failure of the auto makers had nothing to do with unions, pensions or mismanagement. They did nothing wrong.
It had everything to do with a lack of available capital due to bank failures.
Failing banks caused GM to go broke.
I always assumed that spending more than you take in causes you to go broke. If your product sucks and is more expensive than your competitors you don't make as much money.
What caused them all to go down at once, dope?
Your assumption seems to be that our economy could continue without the infrastructure and services that taxes provide.WRONG!!!!It's estimated Obungle's automotive bailout cost the American taxpayers between 9.3 billion and 16.6 billion dollars depending on source....7 million is chump change
That was paid back because remember it was a loan not a payoff. Loans arent tax breaks for the record
Paid back huh??
FRANCISCO (press release)—Who can forget the Democrats led by Vice President Joe Biden at their national convention in 2012 promoting the idea that Bin Laden was dead and Detroit was alive and thriving thanks to the Obama administration? In reality, Osama Bin Laden is dead, but the federal bailout of the U.S. auto industry has cost American taxpayers $10 billion, new figures disclose.
Ironically, the U.S. Treasury Department actually announced last December the official end of the automobile industry bailout after loans given to General Motors and Chrysler had been “repaid to the government’s satisfaction.” It may be to the government’s satisfaction, but what about the American taxpayer?
The initial bailout was inaugurated in January 2009, at the onset of the Obama administration, as part of the Troubled Asset Relief Program. It was designed to combat the subprime lending crisis. The Auto Industry Financing Program loaned $79.69 billion to GM and Chrysler and their in-house financing companies assuming the government would be paid back in full. The operative word is “assuming.”
Most taxpayers are unaware that a portion of funds were used to purchase majority shares of the companies. That, in effect, nationalized the auto companies, the Heartland Institute observed in a report on the end of the bailout. During this period, the government sold Chrysler to Italian automaker Fiat. The Treasury Department provided $17.2 billion in public loans to GM’s financing company, now known as Ally Financial. The company made its final repayment on December 19.
That leaves the bottom line for taxpayers to ponder: the American public recovered only $70.42 billion of the $79.69 billion loaned through the bailout program, a loss of $9.3 billion, about $65.75 per taxpayer.
Meanwhile, the Treasury Department backpedaled when confronted by the media that actually researched the Obama administration claims of solvency. Treasury defended itself by saying, “While the auto industry rescue resulted in a cost of $9.3 billion to the government, the cost of a disorderly liquidation to the families and businesses across the country that rely on the auto industry would have been far higher.” Huh?
Treasury continued, “The government’s actions not only saved GM and Chrysler but they saved many businesses up and down the supply chain.” That is a claim that can easily be refuted if the mainstream media showed any interest, which they don’t. The Obama administration may say Osama Bin Laden is dead with credibility, but to say Chrysler and GM are “alive” is only by what the government considers “alive.”
Hope your not holding your breath for the rest of that money to be paid back.
One deal and already Trump has cost the tax payers $7 million. We will keep track and let you know how much he costs us in the next 4 years.
Carrier Will Receive $7 Million in Tax Breaks to Keep Jobs in Indiana
.
Reduction of taxes isn’t a cost to the taxpayer. It assumes that money not taxed is a loss.
Alot of things. Number one is unions, fuck-face.Oh.Nothing yet.
I'm sure if auto sales were down, we'd be hearing about how bad Obama is.
Tell us again why they should have let them go bankrupt.
They did file for bankruptcy even with our tax dollars. They could have filed before getting our tax dollars but they needed that money to shore up those oh so pricey pensions that were mismanaged.
The failure of the auto makers had nothing to do with unions, pensions or mismanagement. They did nothing wrong.
It had everything to do with a lack of available capital due to bank failures.
Failing banks caused GM to go broke.
I always assumed that spending more than you take in causes you to go broke. If your product sucks and is more expensive than your competitors you don't make as much money.
What caused them all to go down at once, dope?
You are, of course, lying. Had those jobs left the US there would have been no tax rev. As it is, we retained half the loaf and the jobs (which really seems to have pissed you off). You do know what "tax breaks" means, right?One deal and already Trump has cost the tax payers $7 million. We will keep track and let you know how much he costs us in the next 4 years. Carrier Will Receive $7 Million in Tax Breaks to Keep Jobs in Indiana
Yea, give us the money or we will blow this shit up. Its extortion. We should let them go and another company can take all their business because we will tax them 200% to import that shit back in...
Maybe they do care about workers but are just stupid enough to believe that trickle down will still work if we give it more time.At no time have I or anyone I know believed in the foolishness you posted. To think your fellow Americans "don't give a FUCK about workers," just proves what a fool you are and it proves how easily you are duped by D pols and their media.My god it's like I got in a time machine and went back to 2007. You guys didn't give a FUCK about the workers. It was all about the corporations shareholders and consumers and I see you guys are going to forget about the workers again.If you think only wealthy people were GM bond holders, think again.All you care about are ceo's and shareholders. What about workers?To say nothing of how Big Ears really screwed GM bond holders, but that fact is glossed over by the left and their media.
The economy is great for rich people. Now you are back to worrying about them and not blue collar?
What about blue collar?
Don't cry when we call you out on it or point it out.
You are, of course, lying. Had those jobs left the US there would have been no tax rev. As it is, we retained half the loaf and the jobs (which really seems to have pissed you off). You do know what "tax breaks" means, right?One deal and already Trump has cost the tax payers $7 million. We will keep track and let you know how much he costs us in the next 4 years. Carrier Will Receive $7 Million in Tax Breaks to Keep Jobs in Indiana
Yea, give us the money or we will blow this shit up. Its extortion. We should let them go and another company can take all their business because we will tax them 200% to import that shit back in...
WOW. Instead of admitting your POV is just loony leftist sour grapes, you double-down on your stupidity!
Way to go!
1) Carrier has been given NOTHING ... they will to get to save a bit on their taxes.
2) Trump is not yet our Prez so he can't do a thing about our Draconian corp tax rate (yet) but he could do something to save some jobs in Indiana. That he may have helped in that mater seems to have set your hair on fire. Get some of this ... it'll make your butt feel better:
