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Thread: What are the Cons going to say now that the GM bailout has been paid off

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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by j-mac View Post
    I think your point is moot...From your own article...

    "In a new report released Monday, the Center for Automotive Research (CAR) reckons that the federal government bailout of General Motors Co. (NYSE: GM) saved 1.2 million U.S. jobs and preserved $34.9 billion in personal income and social insurance (Social Security, Medicare) payments. The bulk of those jobs and tax payments would have been lost in 2009 and 2010 and would have recovered (mostly) by now without federal intervention, but the U.S. auto industry would look considerably different had both GM and Chrysler been allowed to go under. ..."

    Yeah, so....next.
    Another point you seemed to miss..

    "What U.S. taxpayers avoided, according to CAR, was the loss of about $105.3 billion in transfer payments plus the loss of personal and social insurance tax collections to the tune of 768% of the net investment of $11.8 billion in GM and $1.9 billion (none recovered) in Chrysler. Including jobs related to the auto industry, the federal bailout preserved 2.6 million jobs in the U.S. economy in 2009 alone and $284.4 billion in personal income in 2009 and 2010."

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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by xxstevennnxx View Post
    Ford CEO on bail out- "If GM and Chrysler would've gone into free-fall, that could've taken the entire supply base into free-fall also, and taken the U.S. from a recession into a depression. That is why we testified on the behalf of our competitors even though we clearly did not need precious taxpayer money."

    So, I suggest YOU try again..
    What point are you trying to get across? Is it that you think we, as a nation, need a government to take care of our basic needs or what?
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by Thom Paine View Post
    My most recent info was we are taking a multi-million dollar bath courtesy of GM... no links = hogwash

    But it is a great attempt at humor

    Thom Paine
    You are right.... "your most recent info"..... and "no links = hogwash"..... ah, the irony!

    PS - no one cares about "your most recent info".... we care about the facts.

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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by xxstevennnxx View Post
    Another point you seemed to miss..

    "What U.S. taxpayers avoided, according to CAR, was the loss of about $105.3 billion in transfer payments plus the loss of personal and social insurance tax collections to the tune of 768% of the net investment of $11.8 billion in GM and $1.9 billion (none recovered) in Chrysler. Including jobs related to the auto industry, the federal bailout preserved 2.6 million jobs in the U.S. economy in 2009 alone and $284.4 billion in personal income in 2009 and 2010."
    And you leave out some pretty important context to the article....

    Next paragraph says:

    "As we have already noted, the CAR report suggests that many jobs would have been recovered eventually, but the gains would have been made mostly in the southeastern United States, where foreign carmakers like Toyota Motor Corp. (NYSE: TM) have been building manufacturing capacity. The CAR report notes that the results of such a migration would have had severe consequences in the long term and that unemployment rates in the upper Midwestern states would likely still be in double digits."

    And those jobs would have been non union. So, all your article does is bolster that the bailout was really little more than a union bolstering program....And in the long run, the country will pay for it in higher prices.
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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by upsideguy View Post
    You are right.... "your most recent info"..... and "no links = hogwash"..... ah, the irony!

    PS - no one cares about "your most recent info".... we care about the facts.

    The humor continues non-stop...


    Thom Paine

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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Yes I'll admit the bailout of the unions seems to have worked. Were I to go back in time and reassess my position on the bailout (at the time I very much was against such action) I would not change a thing. The market is self correcting - GM would go into bankruptcy would come out of bankruptcy and be a better company for it or, fail miserably and a new car company would fill the void. I like my Charger and would buy another, but that doesn't change a thing.
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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by j-mac View Post
    I think your point is moot...From your own article...

    "In a new report released Monday, the Center for Automotive Research (CAR) reckons that the federal government bailout of General Motors Co. (NYSE: GM) saved 1.2 million U.S. jobs and preserved $34.9 billion in personal income and social insurance (Social Security, Medicare) payments. The bulk of those jobs and tax payments would have been lost in 2009 and 2010 and would have recovered (mostly) by now without federal intervention, but the U.S. auto industry would look considerably different had both GM and Chrysler been allowed to go under. ..."

    Yeah, so....next.
    How does that make the point moot? The facts are that while the govt lost $10B on the deal, they preserved $35B because of the deal making the gov come out $25B ahead because of this bailout
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    Re: What are the Cons going to say now that the GM bailout has been paid off

    "most analysts say the Treasury will take about a $20 billion hit when the government fully divests its holdings."

    Nice.


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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by xxstevennnxx View Post
    Okay let me try to break this down for you the best I can..
    You better try again, and go search for some serious hard evidence to back up ANYTHING you have to say. For your claim of 284.4 billion in income yet again is more of the bogus number crap. Do the math, you claim that and 1.2 million jobs… that would average over 230k a job. Sorry, that's not the kind of money they are making up there.

    FAIL.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

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    Re: What are the Cons going to say now that the GM bailout has been paid off

    Quote Originally Posted by AlabamaPaul View Post
    IOW, it is just a prediction of what might have happened rather than a promise of what was supposed to happen, got it ...
    You mean a prediction like if we do this stimulus plan, we will get back to 5% unemployment in no time?
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

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