President Obama, while villifying [sic] Mitt Romney for opposing the auto industry bailout, bragged about the success of his decision to provide government assistance and said he now wants to see every manufacturing industry come roaring back. “I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry."Several points here...
First, of course the auto industry came "roaring back." You gave them 85 billion dollars!
What company isn't going to come "roaring back" if you slip them a cool 85 billion? Hell, even Solyndra would be "roaring back" if we'd given them 85 billion tax payer dollars instead of a measly half a billion.
The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.Note that this report comes from "the Obama administration." So Obama is out touting the "success" of a project that his own people are saying is costing tax payers $25 billion and counting. Worse, he's vowing to do the same thing "in every industry." I'm thinking this could get expensive.
In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.
The report may still underestimate the losses.
And finally, can we finally stop pretending that Obama is not a socialist?
“Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry."Recall that Obama didn't just give GM and Chrysler a boat load of our money. He also went in and took over operations. He fired managers, closed down plants, forced mergers, and illegally took money from share holders and gave it to the unions. He literally put a private company under government control. And now he wants to do this in every industry.
I'm increasingly convinced the guy is a Marxist at heart, who has been forced to give capitalism a nod because he knows hard core Marxism won't fly in America. But that aside, can there be any doubt, based on his own words, that he is a socialist?
I recently came across a great G.K. Chesterton quote: "Liberalism is communism in slow motion."
That so describes what we are seeing unfold before our very eyes.
Update: "a taxpayer loss of $25 billion on the auto bailout isn't so much an estimate as a wish." (Senator Blutarsky via Instapundit)