On June 3rd Obama said…
“And today, I’m proud to announce the government has been completely repaid for the investments we made under my watch by Chrysler because of the outstanding work that you guys did. Because of you. Chrysler has repaid every dime and more of what it owes the American taxpayer from the investment we made during my watch. And by the way, you guys repaid it six years ahead of schedule.”
So what’s with this headline at the Huffington Post?
In Chrysler Bailout, Taxpayers Likely
To Lose Up To $1.3 Billion: Treasury
You have to dig into the words to find the financial shell game. Sounding much like a Used Car salesman, Barry was careful with the content of his speech. The key phrase — “Under my watch.” What that means is he is not counting the $4 billion given to Chrysler 18 days before taking office. (Source: FactCheck.org)
Now I don’t know if the Chrysler bailout was a good thing or not. I don’t know where the losses would have piled up to in the collateral of a total Chrysler meltdown. The job losses from plant closings and dealerships would’ve been extensive, not to mention the affect on other peripheral businesses.
I do know $1.3 Billion could have funded a lot of other stuff like three days in Afghanistan. But that’s a whole other topic!