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Writer inspired by pro-Obama letter

September 10, 2012
The Marietta Times

I have to take issue with a pro Obama letter to the editor. The writer tells us that President Obama saved the auto industry. I am curious as to how the auto bailout was attributed solely to President Obama. A quick check of the facts reveals that it was actually President Bush that spent the initial $17.4 billion on the auto bailout. This was proposed in October and happened in December 2008 and January 2009. Obama did not even take office until late January 2009. Obama did add to the bailout funds. The initial 17.4 billion ballooned to 85 billion and much of the funds came from TARP, another Bush fiasco. All of these funds will not make it back into the public's pocket. "According to the Detroit News, the Treasury Department announced in November that it expects to lose $23.6 billion in the auto bailout, as a result of the sharp decline in GM stock," Spiering writes. GM is currently facing bankruptcy yet again, a mere four short years later. The volt, pushed hard by the current Administration, has been a complete and total disaster and hurt the company. I would think that the claim of saving the auto industry is dubious at best. We must also remember that only a very small segment of the auto companies took the money, notably GM. Ford is a fine example of a company that took no money. I would ask that the letter writer research her facts more thoroughly and present the whole story before regurgitating talking points that border on out and out lies in an attempt to rewrite history. Finally I would say that for the most part, most Americans are not better off than they were four years ago. Higher gas and food prices are not the kind of change our country needs.

 
 

 

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