Obama Credited With Both Saving And Crippling US Auto Industry

At 12:01 p.m. Friday, the president rightly credited with saving Detroit’s auto industry will leave office.

Barack Obama took his own oath eight years ago knowing one of his first big decisions would be whether to extend his predecessor’s financial lifeline to the likes of General Motors Corp. and Chrysler Group LLC — or allow one or both of them to collapse.

The potential consequences, political as much as economic, persuaded the new president to commit some $80 billion in taxpayer dollars to rescue the industry from itself. And that decision has made all the difference for the automakers and American manufacturing, for the recovery of Detroit and Michigan, for the United Auto Workers and auto communities across the industrial heartland.

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TheSteve - 1/19/2017 4:58:20 PM

+3 Boost

Crippling? I guess we gotta blame the black man for something.

I thought that after throwing a mountain of bail-out money (borrowed from the Chinese bank) at the failed auto industry in Detroit, and another mountain of (borrowed) money at the failed financial institutions on Wall Street, we could at least agree that the official position was "saving jobs" and "preventing doomsday", as opposed to somehow forgetting this and claiming he "crippled" the auto industry.

If anything, US automakers continue to cripple *themselves* by creating products that don't compete well (overall[1]) on a world stage, and whose primary purpose seems to be to keep Americans employed.

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[1] I do not assert that ALL American vehicles are sub-par. Obviously, there are some models of note, and a few that are even world-class!

MDarringer - 1/19/2017 10:45:49 PM

-2 Boost

Obama tried to rape the industry with ridiculous MPG demands without any understanding of how to drive commerce.

Obama doubled the all-time debt of every President before him in less than 4 years. That is criminal fiscal idiocy.

I think someone has kidnapped the real "The Steve" and that he is now being impersonated by that Leftist Fascist Socialist idiot here whose screen name pays homage to fabric.

W208 - 1/22/2017 6:52:51 PM

+3 Boost

How about EVERYBODY STFU. As a Liberal, I won't lie, it rots me, but it was to be expected; you can't win every time. Stop blaming everybody for this and that; it's history, unless it's an 'alternative fact.'

Trump needs to stop dick measuring with Obama, which Spicer and Conway keep doing like puppets. He needs to cut the "I'm so great" rhetoric and actually do something noteworthy. If something doesn't work, amend it....plane and simple. Just keep the common man in mind. The common man didn't choose to go to war, nor double the debt, nor did he 'subsidize UAW pay.'

Put up or shut up, and stop focusing on inane details. You have a clean slate, do something beautiful for all.....goddamn.