LIBERALS AND TAXES: DESTROYING OUR ECONOMY

As the debt ceiling debate rages on this is what conservatives are up against. The insane, failed fiscal policies of the left are still being pushed by the Senate and Harry Reid. After the Chrysler bailout cost American taxpayers over a BILLION DOLLARS is there any further reason to take these people seriously?

The U.S. government recovered $11.2 billion of the $12.5 billion it loaned to  Chrysler under Washington’s multibillion dollar rescue of the American car  industry. The Treasury Department, which ended Chrysler’s rescue with the sale of its  6 percent stake in the company to Italian carmaker Fiat, said on Thursday it  recovered 90 percent of the money.

Assistant Treasury Secretary for Financial Stability Tim Massad said that  despite the $1.3-billion lost by American taxpayers, the bailout was a major  accomplishment for the federal government because it helped save a million jobs  in what was considered the worse economic crisis faced by the U.S. since the  Great Depression. LINK

You have to love government math. 1.3 BILLION to “save” 1 million jobs. Made up statistics and fuzzy math doesn’t make economic policy. We are in DEEP trouble folks. Better call your congressman and tell them NO DEAL on the debt ceiling. We are just mortgaging our children’s future if we allow the status quo. DON’T TREAD ON ME!

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7 Responses to LIBERALS AND TAXES: DESTROYING OUR ECONOMY

  1. Old NFO says:

    It’s a horror story, the problem is, we’re living it, and it’s NOT a joke!!! Dammit…

  2. So how fast would we have spent that $1300 per person on those 1 million unemployment people?

    • Dustoff says:

      They could have re-org.

      Now they are still losing money. So if they get laid off, we pay twice.

      Think about that.

    • President Obama told a Chrysler plant in Toledo, Ohio, today: “Chrysler has repaid every dime and more of what it owes the American taxpayer from the investment we made during my watch.” That is just not true. Here is the math.

      Chrysler received the following loans from the federal government:
      January 2009: Chrysler receives $4 billion loan from TARP
      January 2009: Chrysler financial receives $1.5 billion from the Treasury Department
      May 2009: Chrysler receives a $1.9 billion debtor in possession loan from the Treasury Department
      June 2009: Chrysler receives a $6.6 billion loan from the Treasury Department
      Total loaned to Chrysler: $14 billion

      Chrysler made the following payments to the federal government:
      May 2010: Chrysler pays the Treasury Department $1.9 billion to settle their January 2009 loan.
      May 2011: Chrysler pays the Treasury Department $5.1 billion as partial settlement for June 2009 loan.
      June 2011: Chrysler pays the Treasury Department $560 million to settle the rest of the June 2009 loan.
      Total paid back by Chrysler: $7.56 billion

      Total loss to taxpayers ($14 billion – $7.56 billion) = $6.44 billion.

      Also not mentioned by Obama in Toledo today, the latest jobs report showing unemployment up to 9.1% including a 3,400 job drop in the auto sector.

      Paying off the loan with TARP funds is like paying off your mortgage buy taking out a second mortgage to do it.

  3. It isn’t the governments job in the first place. Chrysler is a private company and if they can’t make a profit they should go out of business. If their expenses exceed their profits (like the US Gov’t.) they need to do a better job of managing their books. Re-structuring their union contracts for example. Funny how the Japanese car companies can turn a profit. I don’t see their workers eating cat food.

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