OMG! Obama Says the Check From Detroit Is In the Mail
Yeah so now that Detroit is all totally healed, where's the damn check? On its way, says Obama, without actually saying anything about demanding the cash from auto companies that benefited from both his and his predecessor Bushy Jr's kindness. Hey at least the guy is clear that the Bush money is pretty much gone forever. At least some of us can be real about that.
The Detroit News:
President Barack Obama said Thursday that taxpayers will be repaid for the $85 billion auto bailout -- at least the money his administration infused -- as he touted the auto industry's turnaround.
"We are going to get back all the money that we invested in those car companies," Obama said in an interview broadcast on ABC's "The View." "You now have all those U.S. companies showing a profit."
White House Press Secretary Robert Gibbs clarified that the president was referring to the $60 billion his administration loaned to the auto industry, not the $25 billion the Bush administration advanced.
The most recent government estimate is that taxpayers will lose $24.3 billion on the bailout of General Motors Co., Chrysler Group LLC and Ally Financial Inc. Treasury Secretary Timothy Geithner said this month he thinks the estimate will decline further. Gibbs has argued that even if taxpayers lose some money on the bailout, the alternative of 1 million or more jobs being lost would have been far worse.
To celebrate, Obama will be taking a tour of Chrysler's Jefferson North Assembly Plant and GM's Detroit-Hamtramck Plant. If I were him, I'd tell them to just leave me a briefcase of unmarked, non-sequential bills at the plant to cover that bailout tyvm.
I'll believe it when I see it.