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Obama: GM’s survival was necessary for the U.S. economy

omarrana submitted on 9/16/2009 Official Bell & Ross Timestamp: 9:11:56 AM

34 user comments | Category: Misc News | Source: | SOURCE: www.egmcartech.com

Tag Link: Obama

During his visit to General Motors Company’s Lordstown Assembly plant yesterday, President Barack Obama told about 2,200 workers that GM’s survival was essential to the U.

S. economy.

“I didn’t run for President to manage auto companies. It wasn’t something on my to-do list,” Obama said. “But in the midst of a deep recession and financial crisis, the collapse of the auto industry would have caused enormous damage to our economy. So we intervened for one simple and compelling reason: your survival and...

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Obama: GM’s survival was necessary for the U.S. economy

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I hooked up my accelerator to my brake lights. I hit the gas, people behind me stop, and I'm gone.
— omarrana (View Profile)

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Nope, that would by Toyota and it shows.
— veyron1001 (View Profile)

Posted on 9/16/2009 11:31:18 AM | reply to this comment | Votes: 1

Let's get real. Even before Obama was a candidate for President, he was making speeches and promises to the UAW. Obama years ago said he is in favor of taxing imported cars and using that revenue to pay the healthcare for UAW workers.

Obama is making good on campaign promises. Obama took ownership of GM from the stockholders and handed it over to the UAW.
— Invisible (View Profile)

Posted on 9/16/2009 11:32:35 AM | reply to this comment | Votes: -1

Dude, you suckle from the UAW gravy nipple. I'm sure you are aware of the history between Obama and his promises to nationalize GM since day one of his junior congressman when he started campaigning to be president.

Remember his "Health-care for Hybrid". He promised you UAW guys that the American Tax payers would pay for your health insurance IF you built the car he dictated. And where did he propose to raise the billions needed for that!!!!! Raising taxes on Chinese tires, Korean cars, etc.....

Go read about it.
— Invisible (View Profile)

Posted on 9/17/2009 9:00:56 AM | | Votes: 2

Well given we as tax payers now own 60% of GM, I would say its survival is necessary for the better well being of our federal budget.
— SteedPub (View Profile)

Posted on 9/16/2009 11:59:06 AM | reply to this comment | Votes: 5

do you repubs really care about the budget? I doubt it. but if you would, how about supporting tax increase on the rich, the same taxes they paid during the 1990's, when we had 21 million jobs created and huge economic growth, and how about cutting our $750 billion yearly defense budget in half?

We'd balance the budget pretty damn fast. Heck, we HAD a balanced budget when Clinton left office in 2001. 8 years of republican rule and we have record deficits.
— DinamoR (View Profile)

Posted on 9/16/2009 9:03:52 PM | | Votes: 2

More Obama articles, is there anyway to get off politics on this site seriously we see enough negative Obama articles all over the news, and everywhere else, to we seriously have to keep reading articles that continue to take someones words out of context and posted on here. I mean seriously
— bmwdrvr (View Profile)

Posted on 9/16/2009 12:43:14 PM | reply to this comment | Votes: 2

there is a reason why it is called government motor
— ghosthunter (View Profile)

Posted on 9/16/2009 12:44:12 PM | reply to this comment | Votes: -1

And this time it's good because govt. is finally run by the good guys. But watchout for 2012 with Cheney/Palin on the ticket out to make govt. the enemy of the people again.
— Badgewhore (View Profile)

Posted on 9/16/2009 1:18:05 PM | | Votes: 0

LMAO at Cheney/Palin: )))

could americans really be dumb enough to vote for them? are there enough brainwashed EL34's out there?

I don't think so. I think the tide has turned.

republicans are so blind with their fanatical ideology they would rather see our economy collapse than save an important part of it like the auto industry.
— DinamoR (View Profile)

Posted on 9/16/2009 8:46:32 PM | | Votes: 2

I hope that one day soon, this site will get back to posting articles about, I don't know, CARS!! I am tired of all the negative political articles posted, just so Republicans have a place to whine!!
— PerformanceGuy (View Profile)

Posted on 9/16/2009 1:18:18 PM | reply to this comment | Votes: 1

I guess you could take "your" view point about the article and slant it as a Republican opportunity to "whine".

Or you could take the opportunity as a Democrat and rejoice in praise and hallelujahs in the quick success of Obama taking a large corporation away from stock holders and making it a government controlled entity. His plans to eliminate private industry in on track.
— Invisible (View Profile)

Posted on 9/16/2009 4:25:31 PM | | Votes: 0

yeah yeah Obama wants to eliminate the private industry, he's a secret muslim terrorist, his birth certificate is not valid.

Seriously, do yourself and our country a favor and CHECK YOURSELF INTO A MENTAL HEALTH FACILITY

that goes for all you mentally unstable republicans, not just EL34 and invisible
— DinamoR (View Profile)

Posted on 9/16/2009 8:48:31 PM | | Votes: 6

LOL, at DinamoR
Obama has done just as I stated. But you being an extreme liberal leftist stick your fingers in your ears and start screaming RACIST, TEA BAGGER, BIRTHER.

LOL. You can't counter my post so you scream like a child!
— Invisible (View Profile)

Posted on 9/17/2009 12:18:43 PM | | Votes: 0

counter what you braindead moron? your insanity? yeah, i can't counter that.

and Obama did what he promised- saved our economy. Our GDP is already growing right now. If retarded republicans were in charge it'd be down 10% at least.
— DinamoR (View Profile)

Posted on 9/17/2009 4:12:15 PM | | Votes: 0

DinonR, I realize you are a total leftist, but can't you for once have an adult conversation and refrain from the name calling?

BTW, you Democrats have been in control of Capitol Hill since 2006. All I see is deficits out of control, unemployment in double digits......
— Invisible (View Profile)

Posted on 9/18/2009 9:32:04 AM | | Votes: 1

if he'd done nothing we'd be in a depression, but no one appreciates the things he has done. they just look at the negative which is hardly any. if you were to complain about his actions you have to go back before his presidency and look at bush. it was his actions that brought about the decline in the stock markets, his unfound wars, that still aren't being won. he'll never catch osama, and he'll never be president again. those are good and bad, but that's what we have to live with.
— freshseth83 (View Profile)

Posted on 9/16/2009 4:33:00 PM | reply to this comment | Votes: 3

Completely agree with you. I am just grateful that we have an administration that is actually doing something to help the mess cause by the previous 8 years.
— PerformanceGuy (View Profile)

Posted on 9/16/2009 5:10:22 PM | | Votes: 3

The One has done nothing whatsoever to soothe the economy yet. In fact, the unemployment numbers are still rocketing way past what The One said they would when he said we just HAD to bankrupt our kids and theirs.

Fact is, 70% of the "Save The World Spending Bill" has not been spent yet. But we can rejoice in the fact that he has likely enslaved us and our next two generations to China. Think about that. We will be paying for their Naval expansion, space programs, and transportation infrastructre while ours only gets older smaller and less effective. Nice.
— SteedPub (View Profile)

Posted on 9/16/2009 6:40:39 PM | | Votes: 0

100% agree. I have no doubt this country was heading for another great depression. Most of the finance criteria was actually WORSE in 2008 than it was in 1929.

but republicans will launch their insane B.S. attacks on Obama every single day. Because insane unsubstantiated attacks is all they have. They've got NOTHING on the economy, energy, health care, foreign policy. They destroyed this country and they understand that the only way they can win an election ever again is if they destroy Obama. Not with real policies and facts, but with CRAZY lies and B.S.
— DinamoR (View Profile)

Posted on 9/16/2009 8:51:26 PM | | Votes: 3

You know, I was talking to an American fried of mine a few minutes ago. I was watching the Outdoor Channel and I was looking at the American guns on there. I thought of all the other areas that American manufacturing is above reproach. Guns, aircraft, boats, burgers, Coca-Cola...The difference with the American auto industry is that there is not the same level of pride that is placed in cars as is placed in the other areas. I mean, when was the last time you heard of a European fast food joint? Escargot to go, monsieur? Not likely. America CAN build world class vehicles. Get the workers to build products that are INTENDED to compete and they will have pride in it. Get the workers to feel pride in their product and the rest will follow.
— tango (View Profile)

Posted on 9/16/2009 9:23:56 PM | reply to this comment | Votes: 3

we can build world class cars and we will. the problem is that for a looong time we had the corporate party in charge in USA (basically from 1981 to 2009) and they put all emphasis on more consumption, meaning no fuel economy, and they literally abandoned fuel efficient small cars.

Then oil hit $4 a gallon last summer and tahoe hummer SUV lovers were exposed for what they are- dead wrong.

now we have to work hard to recover from that. and we will.
— DinamoR (View Profile)

Posted on 9/16/2009 10:50:45 PM | | Votes: -1

yeah, the japanese can make damn good cars.

but only we americans can make the BEST damn guns, bombs, and NUKES! ;)

we have a culture of death and destruction (mostly of other people, hopefully). which is reflected in where our gov't spends the REALLY BIG BUCKS.

here we are today, whining about the 'unreasonable' costs of health care reform (a mere $900M/yr over 10 years), while not raising a peep about the HALF TRILLION PLUS spent on 'defense' EVERY YEAR! and the GOPpies and their apologists have always been the prime agents in this misplaced set of priorities.

they are MORALLY as well as fiscally BANKRUPT.
— XYZZ (View Profile)

Posted on 9/16/2009 10:48:23 PM | reply to this comment | Votes: 1

It's sounds like you are expected Jesus Obama to pass out FREE healthcare. Jesus is planning to REQUIRE you to purchase healthcare. Either his or someones. If you don't, Jesus will fine you $3,800 a year!

Most people can't afford Obama's FREE healthcare.
— Enforcement (View Profile)

Posted on 9/17/2009 7:57:07 AM | | Votes: 1

Obama wants to have a public option. it would cut costs and be way cheaper than that. But of course the big health insurance companies and their lobbyists have told their propaganda machine (faux news etc) to kill it with all their typical lies.

you have noone to blame but yourself for the fact that our health care costs $6500 a year per capita, twice as much as in any other developed country
— DinamoR (View Profile)

Posted on 9/17/2009 12:06:54 PM | | Votes: 0

-DinamoR, our health care cost more because we have the best healthcare available!

If you prefer rationed national healthcare with long waits and marginal doctors, move to Canada. I'm sure Shempy needs a pal!
— Invisible (View Profile)

Posted on 9/17/2009 12:23:12 PM | | Votes: 0

LOL the best health care? according to who? You and Glenn Beck?

The World Health Organization ranks the U.S. health care system #37 in the world. We've got pretty much the worst infant mortality rates, obesity, diabetes in the developed world, among other things. And we've got one of the lowest life expectancies in the developed world also.

Our health care costs double compared to all other developed countries because the GOP and the insurance lobby are blocking true competition (public option) because they don't want to lower costs. They want to rob the American people blind.

But keep living with your head up your ass. You're a republican, after all.
— DinamoR (View Profile)

Posted on 9/17/2009 4:15:48 PM | | Votes: 0

DinonR, all you leftist elitist have been controlling Capitol Hill since 2006.

Nancy Pelosi this week is taking bribes and under the table dealing with the medical insurance monopolies.

Seems to me all the Demorats want to do is pad their wallets, get on TV and website flings insults, name calling, and finger pointing at everyone else.

After three years of controlling Capitol Hill, why hasn't all the lefist controlling everything cleaned up the billions in Medicare waste? Nancy and company admit to the waste, acknowledge the waste, yet they do nothing but get on TV and spew hatred!

— Invisible (View Profile)

Posted on 9/18/2009 9:37:05 AM | | Votes: 0

in charge? first of all, it was january 2007, not 2006. learn about how the American system works.

second, it was 49 dems 49 republicans with 2 independents in the senate from jan 2007 to jan 2009. one of those independents was joe lieberman who literally had his head stuck up John McCains ass.

I'd hardly call that being in charge.

And can't you see how difficult it is to do anything in this country? The big corporate lobbyists and the faux news media they own are a tough propaganda machine to beat. it will take helluva lot more than a 51-49 advantage in senate to do that.

but keep blaming everything on the dems. Republicans had total control of the government for most of 1920's- the result was the great depression.

Now republicans had total control of the government from 2001 to 2007. the result was (almost) another great depression.

GOP is a joke.
— DinamoR (View Profile)

Posted on 9/19/2009 1:32:26 AM | | Votes: 0

I respectfully disagree with Mr. Obama.

I would opine that spending billions to prop up a company with a highly questionable future did not "save" the economy.

One alternative view is that the 2-4 times the number of jobs that would have been lost by GM going under could have been created by investing the $80B into new company startups and/or helping small existing companies grow.

Growing companies typically grow exponentially and thus, for each job maintained in a flat or declining company, a growing company will hire 1-3 new workers.

Growth, not maintanence, fuels the economy.
— thstone (View Profile)

Posted on 9/17/2009 2:00:44 PM | reply to this comment | Votes: 1

A company that could replace the GM?

Sounds really cute, but it's a fantasy. A pipe dream.

Who are the start up companies that would replace GM?

You might as well tell me that you have a bridge to sell me.
— DinamoR (View Profile)

Posted on 9/17/2009 5:50:32 PM | | Votes: 1

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Obama: GM’s survival was necessary for the U.S. economy

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