President Obama’s Speech About The Bailouts Was Replete With Lies


Virtually every word of Obama’s GM speech was…hmmm…what’s the word…I’m straining here for just the right word…oh, I know…a LIE!

President Obama made the auto bailout the subject of his weekly radio address. He also traveled to Toledo last week to rave about the success of the auto bailout – it’s helping to create 2 million new jobs ( that we apparently have and no one knows about since the unemployment increased).

“Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency — and it repaid that money six years ahead of schedule.  And this week, we reached a deal to sell our remaining stake. That means soon, Chrysler will be 100 percent in private hands,” President Obama said. He said “during his Presidency” so he wouldn’t have to count the money given under President Bush. Guess what, we are not getting our money back.

President Obama bragged about Chrysler being 100% in private hands – that would be foreign hands (Fiat) and 46% in UAW hands.

“All three American automakers are now adding shifts and creating jobs at the strongest rate since the 1990s,” President Obama said. As per Glenn Kessler, the fact is, “The official Bureau of Labor Statistics data refers to the entire auto industry — including foreign auto manufacturers, auto parts manufacturers, auto parts dealers and auto dealers. If you look at the data, the 113,200 jobs added between June 2009 and May 2011 amounts to about a 5 percent increase — from a rather low base.” Read it all here: Washington Post Fact Checker On Obama’s Multiple Lies About GM