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Auto Bailout “Truth” In the MSM

Home - by - February 21, 2012 - 09:00 America/New_York - 8 Comments

Media Hail GM ‘Record’ Profits, Forget to Mention GM Doesn’t Pay Any Taxes

By Seton Motley | Newsbusters
One thing I’ve learned in the year I have spent tracking General Motors cum Government Motors (GM) – and all its Crony Socialist, green non-energy “energy”, flammable absurdities – is the fact that the car media are every bit the Leftist open-channel steno pool as are the political media.

And with President Barack Obama running for reelection in large part on the utterly failed “success” of the $85 billion auto bailout, the car and political media have by now achieved fully melded fusion.

The examples are myriad.

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The press in parrot-unison hail Obama for having “saved” the auto industry.

But always somehow fail to report that we have lost (at least) $23.6 billion on the (mis-ad)venture.

Or that Obama handed an additional $68 billion of our coin – to two companies with a combined market value of around $8 billion. How’s that for new math?

The press in parrot-unison back Obama’s excoriation of Republican Presidential candidate Mitt Romney for suggesting GM and Chrysler file for bankruptcy.

But always somehow fail to report that Obama…had GM and Chrysler file for bankruptcy. Just as Romney recommended. But Obama did so only after handing them an additional $68 billion of our money. Which is not at all like what Romney suggested.

Correct me if I (and Romney) are wrong, but GM and Chrysler could have gone bankrupt – for free. Companies and people do it all the time – with especial frequency here in the Age of Obama.

[snip]

Read the article here.

» 8 Comments

  1. Dr. Tar

    February 21st, 2012

    Just to clarify – the $23.6 billion lost is based on the value lost on the 500+ shares of GM that the Gov bought at $53 and the price falling to $23.

    http://www.lessgovernment.org/2011/11/17/good-news-we-wont-lose-14-3-billion-on-the-auto-bailout-bad-news-it-will-actually-be-23-6-billion/

    But I see today that it closed at $27.34 on Friday. So don’t worry folks with the gov and auto unions running things I’m sure we the tax payers will see that money back (sarcasm mode).

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  2. MADJACK

    February 21st, 2012

    “Truth” In the MSM

    Oxymoron oxymoron, oxymoron! :roll: :roll: :roll:

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  3. RANDO

    February 21st, 2012

    A bit of perspective:
    *The former Pontiac dealer nearby is now a Honda dealer.
    *The former Dodge dealer nearby is now a Kia Dealer.
    *My ’71 Chevy Suburban has 496000 miles on it, and still going strong!

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  4. old_oaks

    February 21st, 2012

    LOL! The MSM and libturds everywhere are expounding the greatness of The Odumbler saving the auto industry!

    Never mind the fact that this years sales forecast is 12.7 million vehicles COMPARED to the good time high of 17.4 million vehicles!

    That’s roughly still 5,000,000 million vehicles IN THE HOLE!

    Yet everything is rosy, happy days are here again!

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  5. old_oaks

    February 21st, 2012

    Want more proof libterds run the car media?

    Two words: Car Talk

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  6. The O must go

    February 21st, 2012

    The GM / Chevy Volt success story is straight out of Pravda . The bullshit meter is pegged on this one.

    If we really want to save the USA some money, we should load Volts into B-52s instead of incendiary bombs.

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  7. Tim

    February 21st, 2012

    The “Auto Bailout” was nothing more than the crooks in the White House and Congress plundering the taxpayers to sop to the UAW who will funnel the money back to the politicians.

    Theft and corruption, plain and simple.

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  8. even steven

    February 21st, 2012

    If GM and Chrysler had declared bankruptcy, they would have been able to emerge from bankruptcy as non-union companies and ended the profit-destroying idiocy the companies have accepted from the unions for decades. I will never buy a GM or Chrysler product as long as they are unionized, and I’ll avoid buying products or services from any unionized company if I can possibly avoid doing so.

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