Extreme Liberal's Blog

Where Liberalism Is Alive and Well!

President Obama Nails Republicans On Auto Bailout – Hard!

I just love when our President calls out the Republicans on their stupidity. Since the media just plays along with them, it falls on the President to do it himself. And he does it sooooo well, doesn’t he?

Cross-posted at Angry Black Lady Chronicles

February 28, 2012 Posted by | 2012 Election, Accomplishments, Economy, Politics, President Barack Obama | , , | 8 Comments

Mitt Romney Wanted The Auto Industry To Go Bankrupt!

From the DNC, just a little reminder of what Mitt Romney said. And he decided to come to Michigan so we could keep the story going, nice work Mitt. Is this a sign of things to come in your campaign?

June 9, 2011 Posted by | Politics | , , | 1 Comment

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.

May 25, 2011 Posted by | 2012 Election, Accomplishments, Economy, President Barack Obama | , | 4 Comments

Repubican’s Can’t Predict Their Way Out Of A Wet Paper Bag With A Steak Knife!

A story that isn’t getting a lot of coverage by the media is the success of the bailout of the GM and Chrysler. I remember vividly, how the Republicans took to the airwaves screaming about how the government can’t do anything right and actually rooting for the auto industry to fail. As it was happening, I couldn’t believe that these people would actually root for and argue for letting them die off. Being in Michigan where so many jobs are either working for GM, Ford or Chrysler or one of the many suppliers who build components for them, I was incensed at the disregard for these working Americans and their families. What kind of cold-hearted motherfucker roots for hundreds of thousands of jobs to disappear, some estimates were over a million, when you count the ripple effect on suppliers? Let’s just take a look at what the Republican prognosticators were saying back in 2009, when this was going down. Here is Sen. Richard Shelby and his prediction…

This is just one example of how bad Republicans are at predicting what will happen with the economy. Another major one that I’ve posted about before is that the stimulus worked very well, it prevented us from slipping into a deep recession. It’s amazing how soon people forget what dire straights our economy was in and how President Obama and his policies were wildly successful at pulling us out of it. And of course, the media campaign to say up is down and down is up on the stimulus success worked pretty well for the GOP. They are master propagandists, that’s for sure.

E.J. Dionne Jr. had a piece reminding us of the auto bailout and what some folks were saying back when it was happening. From E.J. Dionne Jr….

Far too little attention has been paid to the success of the government’s rescue of the Detroit-based auto companies, and almost no attention has been paid to how completely and utterly wrong bailout opponents were when they insisted it was doomed to failure.

“Having the federal government involved in every aspect of the private sector is very dangerous,” Rep. Dan Burton (R-Ind.) told Fox News in December 2008. “In the long term it could cause us to become a quasi-socialist country.” I don’t see any evidence that we have become a “quasi-socialist country,” just big profits.

Rep. Lamar Smith (R-Tex.) called the bailout “the leading edge of the Obama administration’s war on capitalism,” while other members of Congress derided the president’s auto industry task force. “Of course we know that nobody on the task force has any experience in the auto business, and we heard at the hearing many of them don’t even own cars,” declared Rep. Louie Gohmert (R-Tex.) after a hearing on the bailout in May 2009. “And they’re dictating the auto industry for our future? What’s wrong with this picture?”

What’s wrong with this picture is that Republicans are clueless when it comes to the economy. They still believe in “trickle down” economics as if it was written in the Bible and carved in stone tablets. They still think that giving massive tax cuts to corporations and the rich will somehow create jobs and lift the economy, even in the face of reality which shows us how well that worked out for George W. Bush and the American people. The numbers don’t lie, but Republicans continue to.

How successful was the bailout, here is a piece from The New Republic telling us about The Economist and their change of heart on the bailout…(emphasis mine)

Back in the spring of 2009, when Obama was debating what to do with the car companies, the Economist magazine came out hard against a rescue. It’s about what you’d expect from a publication that extols the virtues of the free market so consistently and without qualification. And it’s why their subsequent change of heart, published a few weeks ago, is worth taking so seriously:

Many people thought this bail-out (and a smaller one involving Chrysler, an even sicker firm) unwise. Governments have historically been lousy stewards of industry. Lovers of free markets (including The Economist) feared that Mr Obama might use GM as a political tool: perhaps favouring the unions who donate to Democrats or forcing the firm to build smaller, greener cars than consumers want to buy. The label “Government Motors” quickly stuck, evoking images of clunky committee-built cars that burned banknotes instead of petrol–all run by what Sarah Palin might call the socialist-in-chief.

Yet the doomsayers were wrong. … Mr Obama has been tough from the start. GM had to promise to slim down dramatically–cutting jobs, shuttering factories and shedding brands–to win its lifeline. The firm was forced to declare bankruptcy. Shareholders were wiped out. Top managers were swept aside. Unions did win some special favours: when Chrysler was divided among its creditors, for example, a union health fund did far better than secured bondholders whose claims should have been senior. Congress has put pressure on GM to build new models in America rather than Asia, and to keep open dealerships in certain electoral districts. But by and large Mr Obama has not used his stakes in GM and Chrysler for political ends. On the contrary, his goal has been to restore both firms to health and then get out as quickly as possible. GM is now profitable again and Chrysler, managed by Fiat, is making progress. Taxpayers might even turn a profit when GM is sold.

So this should be a lesson to all Americans not to listen to a freakin word that Republicans say when it comes to the economy. They haven’t been right about much in many years. They keep trying to take us back in time to try their stupid approach again and again. The only thing they have accomplished is to widen the gap between the rich and the poor. But they sure have kept their brainwashed masses singing their tune, with their hands over their ears as they say “nah nah nah, I can’t hear you.”

May 10, 2011 Posted by | Accomplishments, Economy, President Barack Obama | | 3 Comments

Michigan Thanks You President Obama For Saving The Auto Industry!

I remember very clearly how Republicans were screaming about President Obama’s plan to help save the auto industry over a year ago. Many of them had no sympathy for these workers and basically said, let them lose their jobs. As someone who lives in Michigan and knows how many suppliers serve the auto industry, it was maddening to listen to these people who were willing to just let the American auto industry die. As our president said at the time, the ripple effect would have meant millions of jobs lost across the country. Just like with the stimulus, the number of jobs that were saved are dismissed. Once again, all those real people who are able to pay their mortgages, feed their family and pay their taxes are just ignored. I see the effect of the stimulus and the auto bailout every day. From the Wall Street Journal…

The collapse of the companies would have been a “brutal, inevitable shot” to the nation’s already struggling economy, Mr. Obama said in a speech at a Chrysler truck factory in Detroit. “Today, the industry is growing stronger, it’s creating new jobs.”

[...]

“If we had done nothing, not only were your jobs gone, but supplier jobs were gone and dealership jobs were gone, and the communities that depend on them would have been wiped out,” Mr. Obama said at the Chrysler plant.

Now only Republicans would be cool with an entire industry going under, people really don’t matter to those folks. It’s all about the bottom line. As long as they have their cushy jobs and can collect money from the “bottom liners”, they are cool with it. I often wonder how these people rationalize their lack of concern for their fellow-man.

Chrysler worker Harold Gilbert said he knows many Americans oppose the bailout that saved his job at the Chrysler Detroit factory. “We are proving the point that we are worth saving,” said Mr. Gilbert, who waited seven hours to see Mr. Obama speak.

The other thing that really pisses of Republicans about this bailout is the fact that most of the workers are unionized. I guess because most unions support Democrats, that makes them the enemy of the right so they cease being people and become “union members”, which is always said with disdain by these folks. Those hard-working middle class folks that drive our country’s manufacturing base are belittled by the uncaring, money-grubbing right-wing.

I’d like to thank President Obama for helping to save Michigan, thank you, thank you, thank you.

August 4, 2010 Posted by | Economy | | Leave a comment

   

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