President to Promote Auto Bailout as a Success - What Do You Think?

The domestic auto bailout was the right thing to do and I think it will eventually be viewed as having been a good thing for the overall economy.
The Volt, on the other hand, is a morceau de merde (as they would say in La Belle Province).

Yeah, but if you're in "la belle province" don't forget to add a little "TABARKNAK" at the beginning, it will put additionnal weight to your argument.

Nothing Obama does is good for the Economy. Or at least thats what some retards here would like everybody to believe.

Without the bailout Fiat would have invested in Chrysler and they would have survived. Hard to tell how GM would have turned out but it's hard to believe they would have quit. GM was already 5 years into a turnaround phase. Some may agree with the bailout and some may not. I believe by doing a bailout, it gave those who screw up another safety net and those that had invested into GM were given the finger. Now a precedent has been set to allow mismanagement again. As hard as it would have been I still believe there should have been no bailouts. With all the bailouts that were done we still lost over 8 Million jobs. And its BS that the new norm of unemployment should be 10%. And yet there are those that think Obamas policies have been good for the econmy.

Please explain, because you continue to talk about things you have no clue about.

http://www.nytimes.com/2010/07/31/business/economy/31obama.html?_r=1&hp

Without the bailout Chrysler would be dead. Fiat wouldn't have thrown a dime in their direction without it.

Wrong. Apparantly you were not following the story. Your comment is obviously your opinion.

"Without the bailout Fiat would have invested in Chrysler and they would have survived." Is that a fact or your opinion?

Fact

This was a payoff for political support of epic proportions. Basically the payoff preserved billions in inflated union pensions which were a major factor in driving these companies into bankruptcy (among other issues including poor boards and management). The beneficiary, by far, was the UAW. All at taxpayer expense, most of whom earn far less than the excessive union wages

If it wasn't for the few thousand American workers still in the automotive industry, I would have happily watched as the big three went bankrupt and taken their, mostly sub-par, product with them. Ultimately, Bush & Obama did the right thing in bailing these losers out, but make this the last time!

The bail out was the right thing to do. The auto industry would have been the first domino to fall taking suppliers transport companies restaurant owners gas stations and many other people that do not understand that there job is connected to the Big3 with them. Not a good ideal to let descent jobs just disappear into nothingness especially at the rate this nation outsources everything and send jobs and the reaming small amount of liquid cash from out dying economy overseas. Once we figure out how elementary it is that when we once made everything in America family's where surviving on just dad going to work. today even with to parents family's struggle because the once great opportunity we had we shipped over seas.

Amen, you're comment is so accurate.

I don't think it is so much that we shipped our great opportunities over seas. Mostly it is the balance, or distribution, of money in America. Back in 1920s before the great depression the richest 1% of americans had 23-24% of all the money. Our country was in big trouble. Then we built up a middle class by redistributing the money around, so that the average family could live a good life if only dad was going to work. In those days the richest 1% of americans had 8-9% of all the money in U.S. Now, after 8 years of Bush, we're back to the richest 1% in this country having almost 24% of all the money in this country. And that is why the average family is struggling even if both parents are working 50-60 hours a week.

DinamoR you being somewhat right about the "Rich getting richer" is true, but most of the jobs that could support families in our country are gone. I grew up on the tip of the iceberg in Flint MI where we have seen the reduction first hand. What furniture is made in the USA what TV's are made in the US? What happened to our great textile and clothing factories in the south? Look at your shoes what Asian company made them when they where once proudly made in the US? The opportunity is gone and when a Republican and Democrat president can see eye to eye on a crushing issue as this, it is powerful evidence that:

1. America has already lost to much industry and jobs that can put it citizens to work and food on the table.

2. It was the right action to take to loan our Automakers money.

Interesting that the only company that did NOT take any Bailout money ended up being the most successful out of the big three!!!.... If you've been under a rock - its FORD...

Gm is currently worth more than Ford and out sells Ford to this day.

The bailout WAS a good thing. It saved atleast 5M jobs! And it looks like the US government will be making a profit when GM starts selling stock early next year. Ditto Chrysler! GM has been putting some VERY good cars lately. Nothing yet for Chrysler! Ford didnt need a bailout because they mortgaged a lot of their assets and had billions in cash. They've been putting out some good cars lately too, and that will get better when they start bringing over some of the European models that are a ball to drive!

I approve! ( Sorry to bust your bubble, republicans! )

Dont forget about the RED HOT selling Grand Cherokee!

In the laws of a capitalistic society, the bailout was great form of blaspheming to this capital nation. We should had let them fell flat on their face. This will teach other companies not to make crappy products and expect a profit. And overtime the system will repair itself to the point we will never know that they ever existed. Thats just life.

Don't get me wrong. I am a big supporter of Obama, but I don't agree with everything he is doing. Maybe he just have a higher understanding on it than me. I hope that statement is true.

Drinking the Kool-Aid?

It would have been harder for Fiat to make a penetration back in the US without Chrysler. Fiat might have still invested in Chrysler but the whole process might have taken a lot longer. Further It's easier and more cost effective to improve and update models rather then develope all new models. Developement takes time. Now at least Fiat can replace some existing models in 2013 without the pressure of rushing them to the market. Thats assuming that Fiat would have tried to pick up the pieces if Chrysler went bust.As for GM I'm sure that someone would have picked up the scraps. I do think they would have ended up being much smaller companies and there would have been a lot more people out of work. The only good would have been the unions would have been busted.
However there is the issue of parts suppliers.There would have been severe damage to them and ultimately this would have affected Ford greatly. So in my opinion the negatives of letting them fail out weigh the auto bailout.I just think the ripple effect of all this unemployment that quickly would have severly damged our economy further.It is very difficult for either a Democrat or Republican president to have to deal with this near depression economy. I'm not sure either party has an answer as to how to loosen up credit from banks. That in a nut shell is putting the damper on the economy improving. I voted for Mr. O but I do think it was the wrong time to push health care. Yes it was part of his campaign promise but I think he should have been and should be primarily focusing in on jobs right now. Further he is the reason that the Democrats may lose big in November.So he has dug his own whole by pushing his ambitious agenda and not moving laterally with the problems at hand.
That means total gridlock for the next 2 yrs I fear.

"The only good would have been the unions would have been busted"

Who do you guys work for? I am sure that you don't own some huge company or something. There can never be any good when the common man loses his rights and voice.

Enforcement veyron invisible who ever you are you can make as many fake accounts as you will but your lies will never come true. you just sound like the village idiot to someone who knows the truth and considers your lies comedic.