I give you – Our President :
Obama and TUTUS are going to be busy today:
9:05 am PT || Participates in a roundtable discussion with teachers; Canyon Springs High School, Las Vegas, Nevada
9:40 am PT || Delivers remarks at a campaign event; Canyon Springs High School, Las Vegas, Nevada
10:50 am PT || Departs Las Vegas
6:05 pm || Arrives New York City
7:35 pm || Speaks at a fundraiser; Alice Tully Hall at Lincoln Center; New York City
9:45 pm || Attends at a fundraiser; Jazz at Lincoln Center
11:35 pm || Departs New York
12:45 am || Arrives White House
Perhaps he should stop mentioning the auto bailout?
“When the American auto industry was on the brink of collapse,” Obama told a campaign event audience in Colorado earlier this month, “I said, let’s bet on America’s workers. And we got management and workers to come together, making cars better than ever, and now GM is number one again and the American auto industry has come roaring back.”
His conclusion: “So now I want to say that what we did with the auto industry, we can do in manufacturing across America.”
[Big cheer from crowd]
But Obama’s got a bit of bias balance here. Oh, I’ll just come right out and say it: he’s LYING.
GM is selling cars at a deep discount in the US and “bleeding” losses in Europe. The Volt is selling at at a paltry 10,000 a year.
The government still owns 500 million shares of GM, 26 percent of the total. It needs to sell them for $53 a share to recover its $49.5 billion bailout. But the stock price is about $20 a share, and the Treasury now estimates that the government will lose more than $25 billion if and when it sells.
That’s in addition to the revenue lost when the Obama administration permitted GM to continue to deduct previous losses from current profits, even though such deductions are ordinarily wiped out in bankruptcy proceedings.
Not exactly a blueprint for success.
They’ll always have the Blame Bush angle:
They’re going to blame Bush … forever.