DNC TO PROMOTE 'SUCCESS' OF AUTO BAILOUT

The DNC has plenty of good elected official seats still available. 

The (Convention planning) documents also give a glimpse of what parts of Obama’s record will get the most attention in the campaign, with one piece — the auto bailout — rating several mentions in the plan....

President Barack Obama claims the $82 billion auto bailout “created or saved” one million jobs.  But this is the Administration that claimed the $1 trillion so-called “Stimulus” bill “created or saved” jobs - in non-existent Congressional districts.

Chevy Volt

The administation spent $80 billion on “green jobs” - but couldn’t define what a “green job” was.  And when they finally started defining it - counted things like oil industry lobbyist, bus driver and garbage man. Suffice to say, President Obama and his Democrat cohorts have a long history of being...disingenuous.  And having a great deal of difficulty with math. 

We think the auto bailout rates several mentions - though we’re sure ours won’t come up at the Charlotte, North Carolina Democrat Lie-A-Thon.  Behold:

Taxpayers are poised to lose over $42 billion on the $82 billion auto bailout.  President Obama in late 2009 said we would make money on it.

$26.5 billion of the loss was a straight payoff to the Democrat-apparatchik United Auto Workers (UAW) union.

During the bankruptcy process, President Obama illegally paid off the UAW first and in full - before secured bondholders who should have been made whole before anyone else got a dime.  Which was incredibly disruptive and destructive of the entire bond market. 

President Obama illegally carried forward through the bankruptcy the ridiculously exorbitant UAW contracts, a huge contributing factor to GM going under in the first place - and are again, predictably, helping to wreck the bottom line.

Via Breitbart

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