Synthaholic
Diamond Member
Auto industry saved, and thriving. Check.
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Auto industry saved, and thriving. Check.
What a bunch of wingnut bullshit. Are you a born liar, or is it the conservatism?Auto industry saved, and thriving. Check.
When are we getting our $53 billion dollars of taxpayer money back from them?
What a bunch of wingnut bullshit. Are you a born liar, or is it the conservatism?Auto industry saved, and thriving. Check.
When are we getting our $53 billion dollars of taxpayer money back from them?
Celebrating the auto bailout’s success
Every so often, we ought to celebrate our victories. The auto bailout is a case in point. Six years ago, it was wildly controversial, with the fate of General Motors and Chrysler hanging in the balance. Now, it’s clear that the bailout was a solid success.
The revitalized auto industry has been a pocket of strength in a lackluster economic recovery. Motor vehicles and parts have provided 25 percent of the recovery’s gain in manufacturing, despite representing only 6 percent of manufacturing’s value added. Since mid-2009, the number of manufacturing jobs increased by 256,000, up 41 percent from the low of 623,300. Dealerships and parts stores added another 225,000. (All gains are as of mid-2014.)
GM and Chrysler are also more competitive. As conditions for government aid, the companies closed several dozen plants, pared billions of debt, adopted lower wages for new workers and slashed the number of dealerships. The companies returned to profitability in 2010 and recouped some of their lost market share. In mid-2014, the Big Three (Ford avoided federal aid) had a market share of 45.1 percent, up from its 2009 low of 43.7 percent but below the pre-crisis 50.5 percent.
Even some bailout supporters profess surprise at how well it worked. In a newessay (from which most of the numbers here are drawn), economists Austan Goolsbee of the University of Chicago and Alan Krueger of Princeton University — both worked for the Obama administration in early 2009 — admit that the “industry’s outsized contribution to the economic recovery [was] . . . unexpected.” At one meeting, they were polled about whether Chrysler would survive five years even if it received aid. Both voted no.
With hindsight, the rescue was fairly cheap. All told, GM, Chrysler and GM’s financing arm received $80.7 billion in federal assistance. But $70.5 billion was recovered. Although the $10.2 billion net cost is a lot, the benefit — a crucial industry stabilized in midcrisis — was worth far more.
But the alternative was worse. The Obama administration estimated a job loss approaching 1 million, with 300,000 attributed to Chrysler. There would also have been a psychological jolt. If GM — America’s most storied industrial firm — had collapsed, it would have deepened the fear that was causing consumers and companies to cut spending and hoard cash.
*snip*
No admission that you are wrong about the total amount? Totally expected from a lying wingnut.What a bunch of wingnut bullshit. Are you a born liar, or is it the conservatism?Auto industry saved, and thriving. Check.
When are we getting our $53 billion dollars of taxpayer money back from them?
Celebrating the auto bailout’s success
Every so often, we ought to celebrate our victories. The auto bailout is a case in point. Six years ago, it was wildly controversial, with the fate of General Motors and Chrysler hanging in the balance. Now, it’s clear that the bailout was a solid success.
The revitalized auto industry has been a pocket of strength in a lackluster economic recovery. Motor vehicles and parts have provided 25 percent of the recovery’s gain in manufacturing, despite representing only 6 percent of manufacturing’s value added. Since mid-2009, the number of manufacturing jobs increased by 256,000, up 41 percent from the low of 623,300. Dealerships and parts stores added another 225,000. (All gains are as of mid-2014.)
GM and Chrysler are also more competitive. As conditions for government aid, the companies closed several dozen plants, pared billions of debt, adopted lower wages for new workers and slashed the number of dealerships. The companies returned to profitability in 2010 and recouped some of their lost market share. In mid-2014, the Big Three (Ford avoided federal aid) had a market share of 45.1 percent, up from its 2009 low of 43.7 percent but below the pre-crisis 50.5 percent.
Even some bailout supporters profess surprise at how well it worked. In a newessay (from which most of the numbers here are drawn), economists Austan Goolsbee of the University of Chicago and Alan Krueger of Princeton University — both worked for the Obama administration in early 2009 — admit that the “industry’s outsized contribution to the economic recovery [was] . . . unexpected.” At one meeting, they were polled about whether Chrysler would survive five years even if it received aid. Both voted no.
With hindsight, the rescue was fairly cheap. All told, GM, Chrysler and GM’s financing arm received $80.7 billion in federal assistance. But $70.5 billion was recovered. Although the $10.2 billion net cost is a lot, the benefit — a crucial industry stabilized in midcrisis — was worth far more.
But the alternative was worse. The Obama administration estimated a job loss approaching 1 million, with 300,000 attributed to Chrysler. There would also have been a psychological jolt. If GM — America’s most storied industrial firm — had collapsed, it would have deepened the fear that was causing consumers and companies to cut spending and hoard cash.
*snip*
I'm pretty sure the GM bond holders Obama totally screwed out of THEIR money would disagree with you. Again when are taxpayers getting the rest of our money back?
No admission that you are wrong about the total amount? Totally expected from a lying wingnut.What a bunch of wingnut bullshit. Are you a born liar, or is it the conservatism?Auto industry saved, and thriving. Check.
When are we getting our $53 billion dollars of taxpayer money back from them?
Celebrating the auto bailout’s success
Every so often, we ought to celebrate our victories. The auto bailout is a case in point. Six years ago, it was wildly controversial, with the fate of General Motors and Chrysler hanging in the balance. Now, it’s clear that the bailout was a solid success.
The revitalized auto industry has been a pocket of strength in a lackluster economic recovery. Motor vehicles and parts have provided 25 percent of the recovery’s gain in manufacturing, despite representing only 6 percent of manufacturing’s value added. Since mid-2009, the number of manufacturing jobs increased by 256,000, up 41 percent from the low of 623,300. Dealerships and parts stores added another 225,000. (All gains are as of mid-2014.)
GM and Chrysler are also more competitive. As conditions for government aid, the companies closed several dozen plants, pared billions of debt, adopted lower wages for new workers and slashed the number of dealerships. The companies returned to profitability in 2010 and recouped some of their lost market share. In mid-2014, the Big Three (Ford avoided federal aid) had a market share of 45.1 percent, up from its 2009 low of 43.7 percent but below the pre-crisis 50.5 percent.
Even some bailout supporters profess surprise at how well it worked. In a newessay (from which most of the numbers here are drawn), economists Austan Goolsbee of the University of Chicago and Alan Krueger of Princeton University — both worked for the Obama administration in early 2009 — admit that the “industry’s outsized contribution to the economic recovery [was] . . . unexpected.” At one meeting, they were polled about whether Chrysler would survive five years even if it received aid. Both voted no.
With hindsight, the rescue was fairly cheap. All told, GM, Chrysler and GM’s financing arm received $80.7 billion in federal assistance. But $70.5 billion was recovered. Although the $10.2 billion net cost is a lot, the benefit — a crucial industry stabilized in midcrisis — was worth far more.
But the alternative was worse. The Obama administration estimated a job loss approaching 1 million, with 300,000 attributed to Chrysler. There would also have been a psychological jolt. If GM — America’s most storied industrial firm — had collapsed, it would have deepened the fear that was causing consumers and companies to cut spending and hoard cash.
*snip*
I'm pretty sure the GM bond holders Obama totally screwed out of THEIR money would disagree with you. Again when are taxpayers getting the rest of our money back?
Ask the Trump Casino backers in NJ when Donald is going to pay them.
What did I miss?Muslim. Check.
Commie. Check.
Gun grabber. Check.
Negro. Check.
Two term president. Check.
What did I miss?
Racist Ravi. Check.
Ignorant dipshit. Check
Major Garrett: Obama has expanded, not reduced gun rights
National Journal White House correspondent Major Garrett said there has been no debate in Washington since the '90s about gun control, and that President Obama has expanded access to guns since he was elected.
a measure that allowed people to carry concealed guns in national parks
expanded the use of concealed carry on federal property
I read just fine. You said the taxpayers were out $53 Billion.No admission that you are wrong about the total amount? Totally expected from a lying wingnut.What a bunch of wingnut bullshit. Are you a born liar, or is it the conservatism?Auto industry saved, and thriving. Check.
When are we getting our $53 billion dollars of taxpayer money back from them?
Celebrating the auto bailout’s success
Every so often, we ought to celebrate our victories. The auto bailout is a case in point. Six years ago, it was wildly controversial, with the fate of General Motors and Chrysler hanging in the balance. Now, it’s clear that the bailout was a solid success.
The revitalized auto industry has been a pocket of strength in a lackluster economic recovery. Motor vehicles and parts have provided 25 percent of the recovery’s gain in manufacturing, despite representing only 6 percent of manufacturing’s value added. Since mid-2009, the number of manufacturing jobs increased by 256,000, up 41 percent from the low of 623,300. Dealerships and parts stores added another 225,000. (All gains are as of mid-2014.)
GM and Chrysler are also more competitive. As conditions for government aid, the companies closed several dozen plants, pared billions of debt, adopted lower wages for new workers and slashed the number of dealerships. The companies returned to profitability in 2010 and recouped some of their lost market share. In mid-2014, the Big Three (Ford avoided federal aid) had a market share of 45.1 percent, up from its 2009 low of 43.7 percent but below the pre-crisis 50.5 percent.
Even some bailout supporters profess surprise at how well it worked. In a newessay (from which most of the numbers here are drawn), economists Austan Goolsbee of the University of Chicago and Alan Krueger of Princeton University — both worked for the Obama administration in early 2009 — admit that the “industry’s outsized contribution to the economic recovery [was] . . . unexpected.” At one meeting, they were polled about whether Chrysler would survive five years even if it received aid. Both voted no.
With hindsight, the rescue was fairly cheap. All told, GM, Chrysler and GM’s financing arm received $80.7 billion in federal assistance. But $70.5 billion was recovered. Although the $10.2 billion net cost is a lot, the benefit — a crucial industry stabilized in midcrisis — was worth far more.
But the alternative was worse. The Obama administration estimated a job loss approaching 1 million, with 300,000 attributed to Chrysler. There would also have been a psychological jolt. If GM — America’s most storied industrial firm — had collapsed, it would have deepened the fear that was causing consumers and companies to cut spending and hoard cash.
*snip*
I'm pretty sure the GM bond holders Obama totally screwed out of THEIR money would disagree with you. Again when are taxpayers getting the rest of our money back?
Ask the Trump Casino backers in NJ when Donald is going to pay them.
I wasn't wrong, you are just an idiot who lacks reading comprehension skills.
Water is wet?Muslim. Check.
Commie. Check.
Gun grabber. Check.
Negro. Check.
Two term president. Check.
What did I miss?
And he'll use the Constitution and Congress to pass these new regulations and Laws?????????????Obama is about to get horribler with his new gun executive order(s).
HONOLULU (AP) — President Barack Obama will meet Monday with Attorney General Loretta Lynch to discuss executive actions he could take to make it harder for "a dangerous few" to get their hands on guns.
Obama said on his weekly radio address that he gets so many letters from parents, teachers and children about the "epidemic of gun violence" that he can't "sit around and do nothing."
Obama Pledges To Do More To Stop The 'Epidemic Of Gun Violence'