President Obama: Hey, We ‘Rescued’ the Auto Industry, Why Not Every Industry?
In an attempt to draw a clear contrast between himself and his Republican opponent, President Obama on Thursday touted his supposed “rescue“ of the auto industry and claimed that he intends to do the same for ”every industry”:
“I said, I believe in American workers, I believe in this this American industry, and now the American auto industry has come roaring back,” the president said during a campaign speech in Pueblo, Colo. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”
0bama wants to repeat the “success” of auto bailout with every industry. The U.S. government will lose about $23 billion on the 2008-2009 bailout of General Motors and Chrysler. The extra UAW subsidies in the auto bailout cost $26.5 billion—more than the entire foreign aid budget in 2011. The Detroit auto bailout was, in fact, a UAW bailout.
Can you say fascism?