I haven’t paid off my mortgage either, but I’m not stiffing the bank. It’s part of the plan, but perhaps Breen (like most conservatives) is pretending to not understand how finance works. If the GOP (which, of course, supported the bailouts at the time) had actually succeeded in killing off the car industry in the US, I don’t think that it would have been a net positive for the US.
“Same for GM. There’s more than one car company out there, and some are turning a nice profit for both workers and owners without the “help” of greedy unions.”It was bad management and lack of foresight that drove GM into the ground. They put all their eggs into the SUV market and had no back up when the market soured. People started demanding more fuel efficient cars and found them at Toyota. The bailout happened to hedge our bets against GM going out of business all together, sending tens of thousands of people to the unemployment line all at once. GM is now back on track. They are paying off their debt and their employees are still gainfully employed and paying taxes. It was a good gamble, deal with it. You ain’t been right yet.
tbetz of course has it right. The fact the unions, again, bit the bullet and took it in the shorts to save GM is another aspect “righties” ignore. Last time I checked they weren’t handing out mortgages on houses that had to be paid back in three years either.
You ignorant dolts who blindly follow Fox “News” commentators just plain don’t care about facts. You blindly absorb what you’re told to believe and vomit it back up here on the fora.GM wasn’t a bail out, it was a loan. The Bush bank bailout was a $700 billion giveaway with no strings attached. The Obama bank bailout was in loans that had to be repaid and came with a lot of strings attached designed to maximize the effectiveness.
Ima: The simple fact that in 30 minutes of “humor”, Jon Stewart gets more actual facts out, than O’Reilly, Limbaugh, and ALL “conservatives” get out, in 15 YEARS is the “frustration” of the current “conservatives” with I.Q.s over 6- both of them!
You righties are dead wrong on this one. Our recent recession would have been infinitely worse had America’s auto parts manufacturers gone into massive layoffs or gone under entirely.Therein lies the common sense of the matter. The loss of GM and Chrysler could have taken the industry under. Taking that risk would have been foolhardy. Even Ford, who did not need a bailout recognized this.
Ford was an unqualified booster of the government’s support of GM and Chrysler, as well as the auto parts companies. Ford CEO Alan Mulally told Congress, as well as the media, that GM’s and Chrysler’s survival was key to keeping the supply chain that Ford relied upon in tact and functioning. Had GM and Chrysler gone down, along with several parts companies, Ford would likely have been next on the dole because its supply chain would have been so severely impacted. It would not have been able to build the cars necessary to take advantage of GM’s and Chrysler’s woes.
Since the date of the GM bankruptcy, the auto industry has added some 230,000 jobs. The revived auto industry led us out of the recession.Even the sweetest grapes are sour to some folks. Or as an old friend on this site often said, “why do conservatives hate America so much?”
Adding 115,000 jobs last month beats hell out of what Bush handed Obama, losing 800,000 a month. In Bush’s 8 years, we lost a net of 500,000 jobs. Since Bush left, we’ve added about 3 million jobs, and the number of employed people is just about back where it was before Bush’s recession/depression started in 2007. But of course, that’s still not good enough.
We’d be doing a lot better if we didn’t have a bunch of teabagging obstructionists running the Republican party in Congress, and we could start rebuilding our rotting highways, bridges and leaking, wasteful water systems, employing millions more Americans building infrastructure that will pay for itself multiple times over in improved productivity for everyone who uses that infrastructure.
Do you really want to go back to the GOP policies that destroyed our economy in Bush’s second term?
ARodney about 12 years ago
I haven’t paid off my mortgage either, but I’m not stiffing the bank. It’s part of the plan, but perhaps Breen (like most conservatives) is pretending to not understand how finance works. If the GOP (which, of course, supported the bailouts at the time) had actually succeeded in killing off the car industry in the US, I don’t think that it would have been a net positive for the US.
Yukoneric about 12 years ago
I will never buy another GM product! They can repay me by giving me one.
Jason Allen about 12 years ago
“Same for GM. There’s more than one car company out there, and some are turning a nice profit for both workers and owners without the “help” of greedy unions.”It was bad management and lack of foresight that drove GM into the ground. They put all their eggs into the SUV market and had no back up when the market soured. People started demanding more fuel efficient cars and found them at Toyota. The bailout happened to hedge our bets against GM going out of business all together, sending tens of thousands of people to the unemployment line all at once. GM is now back on track. They are paying off their debt and their employees are still gainfully employed and paying taxes. It was a good gamble, deal with it. You ain’t been right yet.
cjr53 about 12 years ago
Well Skippy, perhaps you will provide links to these “facts” you allude to.
Dtroutma about 12 years ago
tbetz of course has it right. The fact the unions, again, bit the bullet and took it in the shorts to save GM is another aspect “righties” ignore. Last time I checked they weren’t handing out mortgages on houses that had to be paid back in three years either.
Jason Allen about 12 years ago
You ignorant dolts who blindly follow Fox “News” commentators just plain don’t care about facts. You blindly absorb what you’re told to believe and vomit it back up here on the fora.GM wasn’t a bail out, it was a loan. The Bush bank bailout was a $700 billion giveaway with no strings attached. The Obama bank bailout was in loans that had to be repaid and came with a lot of strings attached designed to maximize the effectiveness.
Dtroutma about 12 years ago
Ima: The simple fact that in 30 minutes of “humor”, Jon Stewart gets more actual facts out, than O’Reilly, Limbaugh, and ALL “conservatives” get out, in 15 YEARS is the “frustration” of the current “conservatives” with I.Q.s over 6- both of them!
charliekane about 12 years ago
You righties are dead wrong on this one. Our recent recession would have been infinitely worse had America’s auto parts manufacturers gone into massive layoffs or gone under entirely.Therein lies the common sense of the matter. The loss of GM and Chrysler could have taken the industry under. Taking that risk would have been foolhardy. Even Ford, who did not need a bailout recognized this.
Ford was an unqualified booster of the government’s support of GM and Chrysler, as well as the auto parts companies. Ford CEO Alan Mulally told Congress, as well as the media, that GM’s and Chrysler’s survival was key to keeping the supply chain that Ford relied upon in tact and functioning. Had GM and Chrysler gone down, along with several parts companies, Ford would likely have been next on the dole because its supply chain would have been so severely impacted. It would not have been able to build the cars necessary to take advantage of GM’s and Chrysler’s woes.
Since the date of the GM bankruptcy, the auto industry has added some 230,000 jobs. The revived auto industry led us out of the recession.Even the sweetest grapes are sour to some folks. Or as an old friend on this site often said, “why do conservatives hate America so much?”
tbetz about 12 years ago
Adding 115,000 jobs last month beats hell out of what Bush handed Obama, losing 800,000 a month. In Bush’s 8 years, we lost a net of 500,000 jobs. Since Bush left, we’ve added about 3 million jobs, and the number of employed people is just about back where it was before Bush’s recession/depression started in 2007. But of course, that’s still not good enough.
We’d be doing a lot better if we didn’t have a bunch of teabagging obstructionists running the Republican party in Congress, and we could start rebuilding our rotting highways, bridges and leaking, wasteful water systems, employing millions more Americans building infrastructure that will pay for itself multiple times over in improved productivity for everyone who uses that infrastructure.
Do you really want to go back to the GOP policies that destroyed our economy in Bush’s second term?