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  • #64
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    @kirbstomp1 except for the on that Obama had canned....but I am sure his severance pay was more than I would make in a 10 years.
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  • #19
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    It helped the UAW at the expense of everyone else. It helped the Obama Administration and the Democrat party by keeping the union money-laundering racket humming at the expense of everyone else.

    I'm honestly surprised that President Obama is willing to give up his first successful nationalization of a company. I guess it's worn out its usefulness since the Volt is an Edselesque Flop and the convenience of using "Government Motors" as easy shorthand for Obama's socialism.

    Oh well, There's still Government Student Loans as well as an iron grip on the banking industry thanks to Frank-Dodd which effectively centralized banking power and wealth with a handful of mega-banks that thanks to TARP are beholden to Obama.
  • #3
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    Hmmm.....thinking of asking the Gov if they will "bail me out". Will give them 49% of the shares in my business.....me. Hey, they might not be worth much afterwards, but, the Gov doesn't seem to care about that! LMAO
  • #57
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    @PoliticalSpice True. And never have supported Iraq, Afgan, Vietnam and all those "wars" that just became nothing more than government/CIA experiments and "control". Don't get me wrong, I fully support our vets 110% as they thought they were doing what's right.
  • #16
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    @woodtick57 It's called Capitalism, they should've let them fail and declare bankruptcy. Would've been better in the long run.
  • #27
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    @woodtick57 woody... the nation's economy doesn't hinge on the fate of general motors, or in fact, any automaker. if they're going to fail, i 'm sure that they can do it on their own.

    tell me, how well is any corporation managed if it borrows millions, if not billions of dollars from the government (or anybody else) and then turns right around and hands it to their upper management in the form of bonuses and raises to their already over bloated salaries?
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  • #6
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    the only thing it helped was the union pension fund. had they gone through bankruptcy the Union slugs would have come out with about a 60,000 dollar pension, thanks to the working people in the United States , the people who pay taxes, those same Union slugs will receive over 100,000 dollars in their annual pensions.... all praise Barack Obama's
  • #60
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    How many hundreds of thousands of families would have been put out of work had GM & Chrysler gone under like Romney wanted? There is a good chance that the US will break even or make out better from the auto company bailouts when all is said and done. Hundreds of thousands or even millions if you count indirect jobs dependent on auto companies of jobs saved. Yes it was a great investment. And for once I'll even say that GW Bush did something right when he started the ball rolling. Compare the money spent here saving jobs to the money wasted in Iraq and Afghanistan. What did we see out of that?
  • #29
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    The road of history is littered with the remains of car companies that once were but are no longer. The idea that folks would never again buy a car if Government Motors went away is absurd. This was a favor to unions, plain and simple.
  • #47
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    @ir0nw0lfe Yup. All the public sector unions are feathering their nests with the thought of federal money. It's the only way the big democrat controlled cities will stay afloat.

    Obumble can just print more money! It'll be okay, it's not real!
  • #62
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    @Jeff_Woehrle I was referring specifically to the Future crafted regulation regarding the new jerk reaction on Sandy Hook . I expect to see a great deal of federal money thrown out the problem with very little to show for it . except for maybe an assault weapons ban .....
  • #28
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    Obama should be held accountable for supporting this all around bad policy. Where's the media questioning him on this? The outcome of his crony capitalist policy is costing us billions!

    I think if we'd just kept our head low, the economic impact of a GM bankruptcy could have actually have been a net gain. I mean, we have Ford, and lots of foreign companies are now building factories over here.
  • #88
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    @Thunderchicken My parents vowed never to buy GMs again after a terrible amount of time at the repair shop with my mom's Chevy, and the Buick and Oldsmobile my dad inherited.
  • #93
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    @Politicskid

    I've been driving Ford work vehicles for about ten years now.(I have no choice. It's what the fleet manager buys.) In `09 I bought my first Ford truck for personal use. The ride is a little soft for my taste and the suspension travel is pretty long when off road. Other than that, no complaints so far.(I'll stiffen up the rear suspension when I get another camper.)
  • #22
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    Anything the government has its hands in, the American people get screwed! But since its our money and its not coming out of their pocket they just throw it out !its always easier to spend other people's money and not you're own !
  • #17
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    The concept of bailing out failing businesses rather than using the existing systems in place to assist them set a bad precedent. The union is now part of management, the company is headed by a politically appointee and the "scam" is funded by the taxpayer dollars that will never be repaid.

    A dangerous precedent set by a dangerous President.

    I can't wait to see how negotiations with the union go over the next contract... How exactly do you negotiate with yourself?
  • #10
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    The big winner is the UAW. Hell, this was the Barack Husssein Obama plan all along. We now see the American taxpayer actually getting screwed in order for him to pay off his union supporters...and they didn't even have a say in the matter.
  • #5
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    how much would it have cost the gov't when all those auto workers and the related industries went on unemployment insurance?
  • #11
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    @DerivePI

    No-one was up for re-election when the bail-out took place. Besides the UI cost, how much would tax revenues have dropped? People without jobs don't pay taxes...

    Some economists say the gov't might have broke even on this deal.
  • #12
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    @woodtick57 - OK, provide facts and figures. How much in taxes? How much in expenses (UI)? How does that compare to the amount lost? Can you at least do some homework or does someone else have to do all the work for you? This is a simple economic analysis any 6th grader can do.
  • #18
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    @woodtick57 - There were literally hundreds of congressional incumbents who won re-election in 2008. And people without jobs still pay exise taxes, taxes on unemplyment, and sales taxes.
  • #24
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    @DerivePI that is why I asked. If I had the figures, I would have stated them. Let's see your 6th grade math acumen at work...
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  • #4
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    GM should have been allowed to fail and shut down. We'll be back in here in 5 to 10 years with the exact same problem with them. GM shatting out poor quality disposable goods that end up as junk yard filler in 7 years while Toyota and Honda keep making high quality, yet "boring" cars that have a shelf life of 25 years. Ford will still be around because they figure out they need to copy Toyota (rumor has it they are quietly deploying Six Sigma next year). Chrysler hopefully will adopt the Euro model from Fiat and continue. But GM. It needs to be killed like "Romneycare."
  • #87
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    While I hate bailouts GM's failure would have resulted in massive unemployment not only for GM employees but for suppliers of GM as well. That would have effected other auto companies as well. Most suppliers build for more than 1 company. The bailouts for Wall Street is the one that should make everyone sick. The working class needed the bailout not the banks that created the mess
  • #85
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    It cost the taxpayers & General Motors money on this yet another obama scam. We're stuck holding the bag & GM lost customers due to it's dirty money-grubbing dealings with the White House. Many refuse to buy GM or Chrysler now . Been a GM man for years - got a new vehicle 2 months ago & it didn't come from those two.
  • #71
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    If the gov didn't bail out GM then Americas auto and auto related business would have all went under that means no Ford no Chevy no Dodge even Toyota and honda plants in America would have shut down that's too much jobs to allow to be gone for good
  • #69
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    Oh come on here, GM liberals will tell you was a huge success.
    Allow them to pay back the $42 Billion that they owe us!!!!!
    Its funny, Liberals drive Jap Crap vehicles and try and keep BIG UNION Democrat supporting companies going with our tax dollars.
    They drive their Nissans and Kia's to Obama ralleys...Indeed that is truly funny.
  • #66
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    In other economic news... I liked this op-ed piece from the La Times.

    Kinsley: Tuning the tax code
    Given that all taxes are disincentives, what kinds of taxes do we want?

    I like his conclusion...

    "So it makes sense, or so it seems to me, to tax all of these activities equally at the lowest responsible rate. Right now we are violating this principle in every possible way."

    Sounds like a "flat tax" to me.
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