Thursday, November 1, 2012

Dispatch: Obama's Bailout Left Many Behind

The Obama campaign likes to make a lot of fuss about the auto bailout, which used $82 billion of your tax dollars to confiscate the interests of auto industry bondholders and gave it to the likes of UAW and foreign companies like Fiat.  Not to mention, the government shuttered numerous car dealerships right here in Ohio.

Despite what Obama likes to say, the fact is the auto bailout was nothing more than the government picking winners and losers, and using your tax dollars to benefit a few companies to the detriment of those like Ford and Honda who actually played by the rules and balanced their budgets.

Not to mention, Obama's claims are completely inaccurate. The Columbus Dispatch today called out the President for his hollow rhetoric:
But as the president and vice president have kept returning to Ohio to tout the bailout and shore up support, thousands of salaried workers for Delphi, including hundreds in central Ohio, who lost their pensions in the government-orchestrated bankruptcy of the auto makers are speaking out about the myth of the government’s auto “rescue.”
“GM may be alive, but I’m struggling,” says one former Delphi worker in a video on conservative website Revealing Politics. The sentiment is echoed by several others, and contrasted with high-fiving comments by Vice President Joe Biden at a rally, celebrating that GM is alive because of Obama. (Emphasis mine).

Read the full editorial--the Dispatch does a great job of reporting the facts behind the auto bailout and its true effect on Ohio.
At the end of the day, Obama took billions of dollars to shore up his support among union workers, like those at UAW, all at the expense of hardworking Ohio auto-plant employees who deserved better.

Delphi workers played by the rules.  Obama didn't.  But they're the ones who suffered.

We can't afford four more years of "leadership" like that.


  1. "E-mails Show Geithner, Treasury Terminated Pensions of Non-Union Workers"

  2. Welcome to the realization that people bankruptcy is never painless, especially to the people that the party going bankrupt is owed money.

    But who at the Presidential debates claimed the idea of the managed bankruptcy was his original idea? Who advocated at the time that instead of government involvement, what the industry needed to do was go through a managed bankruptcy to shed its pension and retirement benefit costs?

    Who's reportedly profited by the Delphi pensioners pain? Mitt Romney. That's who.

    1. Yes but a managed bankruptcy would have provided a like distribution of pension benefits being reduced or eliminated, to all. Not a selection which was ultimately chosen by Obama, which miraculously went to the UAW members and their bosses. Many a Delphi worker (former Packard workers) were forced to expedite medical care including surgeries because their medical benefits were eliminated and to cause further pain they had their pensions slashed or eliminated merely because they were non union. It was black and white with Obama selecting the winners and the losers. Kind of a pre-test of the death panels, but this version with employment and the economy vs. the Obama rationed health care movement.

    2. If GM & Chrysler had to go through bankruptcy, why waste $80 billion in taxpayer dollars? Oh, that's right, to save the union interests... But screw non-union employees at Delphi.

      And the bogus "profited" claim is just that; Romney's finances are in a blind trust.

      Anyone who invests in a 401k has investments in China and bankrupted companies. You know, like the federal pension system, perhaps? Maybe you'd like to take Obama & Brown to task for that as well?


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