If You Weren’t Outraged by GM Bailout, You Will Be Now

general-motors-bailoutBefore I tell you of all the new developments at government motors, I’d like to inform you of the true cost of the GM bailout.  The “official” tally is ten billion, but the actual total cost to taxpayers is over 50 billion dollars.  GM has a market cap (Net worth) of 28 billion.  The paybacks we received from GM are the true, but kind.  Read this for the true costs.

And how did GM show their appreciation to the US taxpayers?  Well, for one thing, they spent 540 million of it to build a plant in Mexico.  Then , they shuttered the Janesville, Wi plant.  You know, the one Obama promised would stay open for the next 100 years?  Then 4 months later, opened a similar plant in China.

Cadillac, a division of GM made a propaganda film, celebrating the ninetieth anniversary of the birth of the Chinese Communist party, spending an undisclosed sum of US taxpayer dollars.

And now for the latest news from our good friends at GM.  They are investing another 691 million in new plants and associated expenses…in Mexico.

So we spend over 50 billion to save a company only worth 28 billion and in a show of gratitude they ship thousands of US jobs out of the country.  Where are the UAW?  If they were truly concerned about their members, wouldn’t they protest this?  Well, no.  Obama paid them off with a 17.5% stake in GM.  (4.9 billion dollars minus kickbacks to the democratic party)  It’s bad enough the union chose to sell it’s soul to the highest bidder, but they also sold the future of many of their members.

Steven Ahle is the Editor of Red Statements and a regular contributor to The D.C. Clothesline.

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18 Responses to If You Weren’t Outraged by GM Bailout, You Will Be Now

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  5. That’s How Liberalism Works!

    Why is anyone surprised by, what you were told was going to happen, being exactly what happened?

    #NOrinos2014 #CrushRove

    God Bless America!

  6. Ray says:

    I own a ford f-250 and if you do too crawl underneath it someday and look around. I bought a Ford thinking I would support some American in Detroit. Much to my surprise lot of major parts down there had yellow lettering on them say product of Mexico. We have been sold out everywhere. We have become a nation of consumers instead of producers.

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  8. Dean C says:

    I will NEVER buy a GM vehicle…EVER! Ford….they said no thanks to government money

  9. Billy Cooper says:

    Folks you just Gotta Love that Obama. But do not let your little heart be troubled, this is all part of the plan. Remember Obama said he planned to change America. And he is doing that by leaps and bounds. And dont be to surprised when you are standing in that “Food Stamp” line needing some welfare money. I still advise have some good weapons and plenty of ammunition. You are going to need it. And it will not be all that Far Off.

  10. Tom says:

    In the article it mentions where is the UAW? Well I have to say they are one of the main reasons for the company moving. It’s a sad situation that so many US companies are doing the same thing.

  11. and home owners trying to keep their homes are put through paperwork hell and denied lower interest rate re-fi’s by the banks. The corporate elite have access to your check books and the little people starve…

  12. Mark says:

    that’s how the government works. There is no balancing the check book. They just run wild with the American dollar. GM should have failed. if a company that size can’t manage the budget better then they shouldn’t be around. a bail out only makes them more than willing to come back if they need it.

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  14. One Voice says:

    We’ll never buy a Government Motors product. Never really liked them anyway. Ever notice how many of them have only one headlight? Is that a wink?

  15. Keith says:

    Yep and my last vehicle was a FORD, and my next will be also

  16. Ronald Chappell says:

    Yes, I thought that I was angry enough before, watching 0 break the law and give investors money to union retires. We should demand our money back if they had any that they have not shipped abroad. There is no end to the corruption of this administration.
    He is also giving away money to create another housing bubble. This next one will be a duzzie.

  17. Town Crier says:

    OK… how in the hell will Americans pay for those cars? At $4.00 plus per gallon and underemployment the options are few

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