[vector]

* $5 billion to financing arm GMAC on Dec. 29, 2008
* $4 billion to GM on Dec. 31, 2008
* $4 billion to Chrysler on Jan. 2, 2009
* $884 million to GMAC on Jan. 16, 2009
* $100 million to financing arm Chrysler Financial on Jan. 16, 2009
Obama was inaugurated Jan. 20, 2009. So that adds up to almost $14 billion in auto bailout money before he took office.

sound like somebody else believed it was a good thing?

[nky]

* $5 billion to financing arm GMAC on Dec. 29, 2008
* $4 billion to GM on Dec. 31, 2008
* $4 billion to Chrysler on Jan. 2, 2009
* $884 million to GMAC on Jan. 16, 2009
* $100 million to financing arm Chrysler Financial on Jan. 16, 2009
Obama was inaugurated Jan. 20, 2009. So that adds up to almost $14 billion in auto bailout money before he took office.

sound like somebody else believed it was a good thing?

Don't forget to add the link you "copied" this from
http://www.politifact.com/truth-o-meter/...ney-had-r/

[vector]

Don't forget to add the link you "copied" this from
http://www.politifact.com/truth-o-meter/...ney-had-r/

did the republicans start the auto bailout or not simply ?

[TheRealThing]

* $5 billion to financing arm GMAC on Dec. 29, 2008
* $4 billion to GM on Dec. 31, 2008
* $4 billion to Chrysler on Jan. 2, 2009
* $884 million to GMAC on Jan. 16, 2009
* $100 million to financing arm Chrysler Financial on Jan. 16, 2009
Obama was inaugurated Jan. 20, 2009. So that adds up to almost $14 billion in auto bailout money before he took office.

sound like somebody else believed it was a good thing?

nky's post must have had more of an impact on me than it did you.

"My experience has been in saving the American auto industry. And as long as I'm president that's what I'm going to be doing, waking up every single day thinking about how we can create more jobs for your families," Obama said at a rally in Maumee, Ohio.

I haven't heard George W claiming to be the savior of the free world. Obama is so modest about it all, LOL.

ARTICLE---

In December 2008, the three major U.S. auto industry companies -- GM, Chrysler and Ford -- asked the government for a $34 billion bailout to avoid bankruptcy. The Big 3 stated that their demise would trigger 3 million layoffs within a year, plunging the economy further into recession.

In January 2009, the Federal government used $24.9 billion of the $700 billion bank bailout fund to rescue two of the Big 3 :
•$17.4 billion for General Motors and Chrysler.
•$6 billion for GMAC.
•$1.5 billion for Chrysler Financial.
The purpose of the loans was to provide operating cash for GM and Chrysler, and to keep making auto loans available for car buyers. Ford Credit planned to use funds from the Term Asset-Backed Securities Loan Facility (TALF),a government program for auto, student and other consumer loans.

Many opposed the bailout, saying U.S. automakers brought their near-bankruptcy on themselves by not retooling for an energy efficient era, reducing their competitiveness in the global market.

END ARTICLE---

George said he did what he thought was right by using part of the already allocated bank bailout fund to answer the pleas of GM and Chrysler. He had only days to make a decision according to reports by the big 3, all would be in forclosure before Christmas. That's a hard spot to find one's self in. One thing is for sure. the 700 billion George W anted up would have been a whole lot easier to absorb than the spending free-for-all which ensued Obama's inauguration.

The reason Obama was brave enough to run the debt up over 5 trillion in just over 3 years is because Keynesian economists (of which he is one) think the national cash flow is like a river. It just never stops. That, in spite of the fact it's never worked anywhere, at any time, in history, but that makes no nevermind to our president. Printing money, spending money, giving money away like there's no tomorrow, it's just all part of the plan. So what if just two years earlier he was a mere community organizer in Chi-town? Having jumped up out of obscurity, if Standard and Poors downgrades our credit rating, he will simply declare them to be the stupid ones! I mean, can one just imagine the rush he gets when he walks in front of a mirror?

But, I digress. Put me in the group that didn't think it was a good idea.