Wednesday, October 31, 2012

Obama Spent Billions To "SAVE" The Auto Industry

Socialist President Obama claims that he saved the auto industry and that therefore voters in Ohio should support his reelection.  First, let's get the facts straight.  Obama literally gave Chrysler Corporation to FIAT, an Italian company, for free.  In fact, billions of bail out dollars were simply written off in the government's deal with FIAT.   GM still owes American taxpayers more than $20 Billion that we will probably never see again.  

Further, rather than going through a normal, structured bankruptcy proceeding, that would have protected the real owners of GM and Chrysler, its shareholders and bondholders, Obama gave these companies to his auto union supporters, ignoring a 100 years of bankruptcy law.  This was Crony Capitalism at its worst.   What Obama did was more like what might have occurred in Stalin's Communist Soviet Union, than the United States.  But then Obama is a Socialist and Socialists will lie, cheat or steal to stay in office, feeding at the trough and that is exactly what happened with the bail outs of GM and Chrysler. 

And actually, only 400 additional new jobs have been added in the auto industry in Ohio at a cost of billions of taxpayer dollars.   Such a deal.  In addition, Obama literally screwed the salaried employees of Delphi, a GM subsidiary.    Their pension fund was raided to fully fund pensions and other benefits for union employees.   Many of these Delphi salaried employees lost 30 - 70% of the pensions that were promised to them.   But then, they were not auto union members; Obama's PEEP's. 

Voters in the Mid West really need to understand the whole picture.   Obama did not save the auto industry.   Obama transferred billions of tax payer dollars to his union supporters.   This deal was about redistribution of income from the Makers in our society to the Takers.  All tax payers should be furious concerning this crooked deal.   This is just one more reason we must make Obama a one term President by electing Mitt Romney, the next President of the United States and gain Republican control of both Houses of Congress to restore respect for our country around the world, economic growth and job creation again in America. 

We have to take back our country in 2012 and 2014 by sweeping Socialists, at all levels of government, including President Obama, out of office to prevent the bankruptcy of the United States and a loss of our national sovereignty.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   Socialist President Obama did not "SAVE" the auto industry.  Instead Obama stole it from its owners and gave to his auto union PEEP's at our expense.   

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