Obama said recently on his Campaign Bus tour that Romney’s experience has been in owning companies that outsource jobs, while “my experience has been in saving the American automobile industry.”
First of all – this outsourcing comment is absolute nonsense. If we didn’t outsource jobs your iPhone would cost you $2500 and an iPad would be around $4000. Thanks to outsourcing you can buy a computer – a computer that vastly increases your own job performance and profitability – for under $1000. End outsourcing and you’ll be paying ten grand for that computer. And for the dedicated Obama voters .. those Nikes would cost you hundreds of dollars more per pair.
And what about this “saving the American automobile industry” crap! Obama did NOT save the American automobile industry. Obama saved the United Auto Worker’s Union (UAW).
The automobile industry was going to survive one way or the other. That’s what bankruptcy laws are for. General Motors, for instance, probably would have filed a Chapter 11 bankruptcy petition, just as Delta Airlines and many other prominent American companies have done. GM would then have abrogated some contracts, revised others, streamlined operations, shut some plants … or, in other words, reorganize! That’s what a Chapter 11 bankruptcy is! Reorganization! Now this reorganization idea did not sit that well with the UAW. Under a Chapter 11 bankruptcy GM could have gone to the UAW and forced them into contract concessions involving both pay and benefits .. including an end to the asinine jobs banks .. and this would be very bad for union leaders indeed. So the union bosses got to Obama .. and Obama stepped in. Truth is, Obama just threw the law aside … tossed hundreds of years of bankruptcy law aside … and, as a ruler, rather than a leader, would do, forced the parties into an arrangement that gave the unions what they wanted while royally screwing secured creditors.
Where are we now? GM is operating, but not doing all that well. The Chevy Volt is a government-subsidized boondoggle. And the federal government still owns massive amounts of GM stock. Now Obama promised that this stock would be sold, the taxpayers would make a profit, and GM would return to private ownership. Hasn’t happened. Why? Because if Obama sold that GM stock right now the U.S. taxpayers would take a $35 Billion dollar hit. That’s Billion, not million. Pay attention.
Oh .. and don’t forget the hundreds of GM dealers that Obama ordered closed .. and the employees of those dealers who lost their jobs.
Obama is a one, big, lying jerk....and this is just one example of how he proves it time and time again.
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