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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Obama's rescue of the auto industry is a big problem for Republicans
Mitt Romney's delusional attempt to take credit for the rescue (http://www.democraticunderground.com/1002622596) comes right after reports that Chrysler posted it's best quarter in 13 years (http://www.democraticunderground.com/1014107283).
President Obama literally rescued the entire industry, including the suppliers.
Before the domestic auto rescue, President Obama made$5 billion in Federal loans available to small auto parts suppliers:
What a lot of folks, including politicians, don't seem to realize is that GM and Chrysler merely ASSEMBLE cars. They don't make the parts.
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Obama rescued the Domestic Auto Industry.
But BEFORE that. BEFORE that. BEFORE he sent the domestic auto industry into structuered bankruptcy, he made sure the LITTLE GUYS....the SMALL manufacturing companies that make SPRINGS or BOLTS or LATCHES or TINY WIDGETS were able to stay afloat so that when GM got back on its feet again it didn't have to look to CHINA or MEXICO to make those parts because the previous suppliers had gone belly up.
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http://www.dailykos.com/story/2012/02/29/1069618/-What-Happened-Before-the-Rescue-of-the-Domestic-Auto-Industry
As Romney's desperate attempt proves, any mention of the success of the auto bailout causes Republicans to lose their minds.
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Karl Rove heard echoes of Obamas rhetoric too, and implicit optimism about the direction of the country, and cried foul.
I was, frankly, offended by it, Rove said on Fox News Monday. Im a huge fan of Clint Eastwood, I thought it was an extremely well-done ad, but it is a sign of what happens when you have Chicago-style politics, and the president of the United States and his political minions are, in essence, using our tax dollars to buy corporate advertising.
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The flap over the ad confirms the GOPs serious branding problem: The problem for Rove and the rest of the GOP is that their partys narrative has become relentlessly negative, pessimistic and uninspiring. Theyve left the language of optimism and resilience, higher ground and common ground, to the Democrats, and lately President Obama has grabbed every opportunity to employ that language...the fact is the president saved the auto industry at a time when Republicans, most notably Mitt Romney, urged him to let it die. If he gets credit for that unpopular decision, thats because he deserves it.
http://www.salon.com/2012/02/06/karl_roves_hissy_fit_offended_by_chrysler_ad/singleton/
President Obama's rescue of the auto industry is literally driving Republicans nuts!
monmouth
(21,078 posts)ProSense
(116,464 posts)Romney doesn't want anyone to mention that either: http://www.democraticunderground.com/1002617193
monmouth
(21,078 posts)in his speech tonight. Something along the lines of "This time last year..."...The applause will be awesome and romney will cry.
cwydro
(51,308 posts)but the country is on life support.
I voted for him once.
Period.
banned from Kos
(4,017 posts)There is no truth to that lie at all
DIP for GM cost over $40 billion. No one would do that - except Obama.
k/R
Old and In the Way
(37,540 posts)The banks were in a liquidity freeze. There was no money to lend for restructuring or working capital. The automotive industry was hammered on 2 fronts....declining sales and no availability of short term cash.
banned from Kos
(4,017 posts)with a loan (among others) for crying out loud.
2008 was a toilet.
lunatica
(53,410 posts)They have a lot of women pissed off too. They will definitely hear us roar.
I'd love to see this clip go viral: http://www.democraticunderground.com/1002622616
It nails Romney and the Republicans.
Tarheel_Dem
(31,207 posts)Iliyah
(25,111 posts)taking credit for it.
Botany
(70,281 posts)And the problems are in:
Michigan
Ohio
Indiana
Illinois
Wisconsin
Iowa
Minnesota
all of which have auto makers or or auto part suppliers
not to mention steel, aluminum, auto glass, wiring, plastics, and auto computer manufacturers
but at least "they" have the states where trucks and trains "haul cars" to markets
In late November / early December of 2008 President elect Obama put together men and women
to work on saving the auto industry in the U.S. ....... all I can say is:
LynneSin
(95,337 posts)ProSense
(116,464 posts)ProSense
(116,464 posts)GM (GM) posted a profit of $1 billion in the first quarter, beating Wall Street expectations on strong demand in its key North American market.
GM also said the U.S. economy was improving and it expected its core North American results in the second and third quarters to largely match the first quarter due to scheduled downtime at its large truck plants.
"We're clearly seeing some improvement in the (U.S.) economy," Chief Financial Officer Dan Ammann told reporters. "It's a modest underlying improvement, but it's patchy and it won't necessarily all go in a straight line."
The quarter included the impact of $800 million in higher vehicle pricing and lower consumer incentives, half of which came in North America. Last year, GM offered heavy consumer incentives to drive sales in the U.S. market, something it did not do this year.
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http://bottomline.msnbc.msn.com/_news/2012/05/03/11518519-gm-reports-1-billion-first-quarter-profit-beating-estimates