One More Example Of Smart Governance And How Wrong The GOP Can Be!
When President Obama took office, the sky was falling and the effects of Bush’s stupid policies were raining down upon us like razor blades, cutting everyone they came in contact with. It’s pretty astounding how soon people have forgotten what we were facing with predictions of slipping into another depression coming from everywhere. A lot of people did suffer in the downturn and we’ve been struggling to get back to where we were. And whether Republicans want to admit it or not, Bush was responsible for the mess. The GOP tried their hardest, with much success, to brainwash their followers and the media – that once Bush left office, all accountability and the residual effects of his policies went with him. The GOP and their media lapdogs almost immediately started telling us all that President Obama now owns all the disasters that were left behind. One of the big fears during late 2008 and early 2009 was the potential collapse of the auto industry. Even President Bush saw this and started the process of bailing out the auto industry. Former President Bush deserves credit for that. But the rest of the GOP apparently decided that those estimated 2 million jobs were expendable. Check out this clip that reminds us what the two leading contenders for the Republican nomination said back then. Courtesy of the DNC…
They were so sure of themselves, weren’t they. They weren’t saying it might happen, they were adamant that bailing out the auto industry was going to kill it completely. I’ve posted about the success of GM in the auto bailout before, well this week we learned that Chrysler is paying back both the US and Canadian governments 6 years ahead of schedule. From The New York Times…
Chrysler paid back on Tuesday $7.6 billion in loans from the American and Canadian governments, paving the way for its Italian partner, Fiat, to increase its control over the Detroit carmaker.
The repayment of loans and interest owed to the United States Treasury and Export Development Canada is a significant milestone in Chrysler’s methodical comeback from bankruptcy in 2009.
[...]
“While there is more work to be done, we are starting to see stronger sales, additional shifts at plants and signs of strength in the auto industry and our economy,” the president said.
I never understood as it was happening, why the Republicans would be so blatantly against trying to help save all those jobs in the auto industry and the ancillary business that supply the auto industry. On the face of it, it just came off as very cold and insensitive to all the people affected by it. Politically, it seemed like a stupid move. I suspected it was the right-wings extreme hatred for unions that drove their irrational and naive pronouncements about the bailout. At the time, I knew they were going to live to regret those comments. It’s just too bad it wasn’t in 2010 that they regretted them.
The many successes of the Obama administration has to be frustrating as hell for the Republicans, who have been saying for many years that the government can’t do anything right and then of course for the 8 years of Bush, they proved it. There is nothing like a self-fulfilling prophecy. The Obama administration has proven over and over that the federal government, with all its warts, can create change and help move our country forward.
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“paving the way for its Italian partner, Fiat, to increase its control over the Detroit carmaker.”
Much of Chrysler production is now in Canada and Mexico. After eliminating Saturn and Hummer, much of GM’s production is off shore. We are a service society because manufacturing jobs have left the country and out politicians don’t care.
When are our elected officials going to take their head out of the sand and see what is happening.
In part it is the corporations trying to make the bottom line look better for their shareholders, in part it is the unions who for decades insisted on more pay for less work but the most blame goes to our politicians who have no clue what it takes to attract business to the US.
Which right wing blog you plucked that nugget from Ralph?
That would be funny except it came from EL’s post above, if you read it.
Point is, the money spent resulted in meager results for the US but that doesn’t matter to Obama as long as his lock step troops continue to follow him.
At the time of the government LOAN to General Motors, they employed 73,000 hourly workers in the U.S. and slimmed down their work force with an early retirement buyout of 19,000 workers leaving a MEAGER workforce of 54,000. Chrysler employs 58,000 AMERICANS (lazy ones according to our TROLL). Chrysler employs 4,500 in their transmission plant in Kokomo, Indiana, the biggest single employer in that city of 45,000.
These numbers don’t include the many more who work in factories all over the nation making parts for the assembly lines. U.S. Census Bureau statistics rank Indiana third in the number of employees in its transportation-equipment industry. Only Michigan and Ohio employ more. Indiana also ranks number one in the production of truck and bus bodies, and second in making carburetors, pistons, piston rings, and valves. Manufacturers include Bosch Braking Systems, Delphi Automotive, and New Venture Gear.
So it wasn’t over 100,000 auto workers whose jobs were saved, but many more in the parts industries.