One of the biggest lies on the Obama campaign trail is that the bailout of GM was successful. By that he means 20,000 Delphi workers ‘successfully’ lost their pensions while union worker pensions were propped up. In other words, theft.
via Michelle Malkin:
The claims that GM paid back its taxpayer-funded loans “in full” — a story peddled in campaign ads narrated by Hollywood actor Tom Hanks — were debunked by the Treasury Department’s TARP watchdog this summer. GM still owes nearly $30 billion of the $50 billion it received, and its lending arm still owes nearly $15 billion of the more than $17 billion it received. Bailout watchdog Mark Modica of the National Legal and Policy Center adds: “In addition to U.S. taxpayers anteing up, Canada put in over $10 billion, and GM was relieved of about $28 billion of bondholder obligations as UAW claims were protected. That’s an improvement of almost $90 billion to the balance sheet, and the company still lags the competition.”
via Michelle Malkin.
Who could have foreseen that a Senator who had
boldness arrogance to write a memoir before ever accomplishing anything, and who voted ‘present’ 129 times on critical legislation would go on to become President, let alone “President Incomplete?”
For his part, President Obama needs to change direction—immediately and decisively. His campaign strategy has been to divide the country on the basis of class, demonize the wealthy, call for higher taxes and unceasingly attack Mr. Romney. Yet poll after poll has shown that while voters embrace the idea of higher taxes on the rich, it does not translate into votes.
Imagine if Mitt Romney showed up the day before the Olympics were to start and says, “Sorry guys. My job is incomplete. You’ll just have to deal with it and should consider keeping me on for having done such a great job.” The response would have been, “You’re fired!”
November will not be kind to the Liberals.
Well, well. It appears the most notorious President in US history didn’t pay enough attention while he was pursuing his alleged Constitutional scholastic skills.
Soon Congress will review his latest attempted breach of Congress and bring the will of the voters back into the equation, a process that’s not likely to result in his favor:
Congress can hold votes on President Obama’s controversial welfare policy, government investigators said Tuesday.
The GAO explained in a legal memo that health officials must submit the policy to Congress because, as a federal rule, it falls under the Congressional Review Act (CRA).
“The CRA is intended to keep Congress informed of the rulemaking activities of federal agencies and provides that before a rule can take effect,” the GAO said in a statement.
Democrats apparently are seeking to avoid the possible embarrassment of President Barack Obama accepting the party’s nomination in a partially empty stadium by moving his speech to a smaller indoor arena and citing inclement weather.