Obama, the President of Lies

Recently, Obama traveled to Ohio to tout his administration’s rescue of America’s automobile industry. He also made that rescue the subject of his weekly radio address.

[youtube=https://www.youtube.com/watch?v=QV1Nzv_46UQ&feature=player_embedded]

Like so many of Obama’s other utterances, it turns out that his Ohio speech is a litany of lies. Don’t take my word for it. Instead, read this “fact checker” published by none other than The Washington Post!!!

Excerpts from Glenn Kessler, “President Obama’s phony accounting on the auto industry bailout,” Washington Post, June 7, 2011:

We take no view on whether the administration’s efforts on behalf of the automobile industry were a good or bad thing; that’s a matter for the editorial pages and eventually the historians. But we are interested in the facts the president cited to make his case.

What we found is one of the most misleading collections of assertions we have seen in a short presidential speech. Virtually every claim by the president regarding the auto industry needs an asterisk, just like the fine print in that too-good-to-be-true car loan.

Let’s look at the claims in the order in which the president said them.

“Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency — and it repaid that money six years ahead of schedule.  And this week, we reached a deal to sell our remaining stake. That means soon, Chrysler will be 100 percent in private hands.”

Wow, “every dime and more” sounds like such a bargain. Not only did Chrysler pay back the loan, with interest — but the company paid back even more than they owed. Isn’t America great or what?

Not so fast. The president snuck in the weasel words “during my presidency” in his statement. What does that mean? … Obama is counting only the $8.5 billion loan that he made to Chrysler, not the $4 billion that President George W. Bush extended in his last month in office. However, Obama was not a disinterested observer at the time. According to The Washington Post article on the Bush loan, the incoming president called Bush’s action a “necessary step . . . to help avoid a collapse of our auto industry that would have had devastating consequences for our economy and our workers.”

[…]Through this sleight-of-hand accounting, the White House can conveniently ignore Bush’s loan, but even the Treasury Department admits that U.S. taxpayers will not recoup about $1.3 billion of the entire $12.5 billion investment when all is said and done.

[…] Under the president’s math, Chrysler paid back 100 percent of Obama’s loan and less than 70 percent of Bush’s loan. A more honest presentation would combine the two figures to say U.S. taxpayers got back 90 percent of what they invested. In fact, that is how the Treasury and other administration officials frequently portray it; it is just when Obama speaks that the numbers get so squishy [….]

“All three American automakers are now adding shifts and creating jobs at the strongest rate since the 1990s.”

The White House says the data to back this claim concerning the Big Three automakers is not public information. The official Bureau of Labor Statistics data refers to the entire auto industry — including foreign auto manufacturers, auto parts manufacturers, auto parts dealers and auto dealers. If you look at the data, the 113,200 jobs added between June 2009 and May 2011 amounts to about a 5 percent increase — from a rather low base [….]

“GM plans to hire back all of the workers they had to lay off during the recession.”

This is another impressive-sounding but misleading figure. In the five years since 2006, General Motors announced that it would reduce its workforce by nearly 68,000 hourly and salary workers, creating a much smaller company. Those are the figures that generated the headlines. Obama is only talking about a sliver of workers — the 9,600 workers who were laid off in the fourth quarter of 2008. About 4,100 were sent home for a few weeks. Another 5,500 were put on indefinite leave, meaning there were no jobs at the time for them. All but 1,000 have returned to work, and the rest should be back at work by year’s end, according to GM spokesman Greg A. Martin.

“In the year before I was President, this industry lost more than 400,000 jobs, and two great American companies, Chrysler and GM, stood on the brink of collapse. Now, we had a few options.  We could have done what a lot of folks in Washington thought we should do — nothing.”

This is quite a straw man — that many people wanted to do nothing. It was never so black and white. The debate was over the right course to take in the bankruptcy process.

The Wall Street Journal published Monday an interesting conservative critique of the government’s intervention by David Skeel, a law professor at University of Pennsylvania. Skeel says that the revival of the auto industry “is a very encouraging development,” but “to claim that the car companies would have collapsed if the government hadn’t intervened in the way it did, and to suggest that the intervention came at very little cost, is a dangerous misreading of our recent history.”

Kessler, WaPo’s Fact Checker, concluded by giving Obama 3 Pinnochios (the only worse rating would be 4 Pinnochios).

~Eowyn

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Judy
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I’m not sure what makes me more nervous: The press singing praises of their favored pet or the press calling their favored pet on the carpet, and like crowded rats are eating their young… or is this intended to be a slap on the wrist, a warning… *shivers*

 
genomega1
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genomega1

Number one he did not bailout the auto companies, he bailed out the unions and turned the law on its head by shafting the bond holders.

 
Mad Angel is on FB
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Mad Angel is on FB

LOVE THE VISUAL….IF ONLY IT WERE THAT SIMPLE 😉

 
DCG
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DCG

I don’t trust one word that comes out of Bambi’s mouth, well except when he said he wanted to “fundamentally transform American”.

 
tina
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tina

Orly Taitz just received word from the social security administration,Stanley Ann Dunham’s social was FRAUD also!!!!!!

 
Mad Angel is on FB
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Mad Angel is on FB

I thought I would share this with you people….
U.S. DISTRICT COURT IN HONOLULU SUBPOENAS LORETTA J. FUDDY, HAWAII HEALTH DEPARTMENT DIRECTOR
https://www.thepostemail.com/2011/07/05/exclusive-court-subpoena-for-obamas-original-birth-certificate-served-to-hawaii-health-department/

The server’s signature appears in cursive writing and is printed on the line below. It is stamped with the following below the process server’s signature and printed name:

Law Offices of Orly Taitz, Esq.
29639 Santa Margarita Pkwy. Ste 100
Rancho Santa Margarita, CA 92688

 
igor
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igor

obama apparently is of the school where if you repeat lies often enough these lies will become the truth.

 
Lone Wolf
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Lone Wolf

Where did he come from? he just appeared on the world stage out of thin air. It is like a game of chess where the opponent has two queens! surely there must be someone somewhere who can defeat him in the next election. The mind boggles.

 
Mac
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Mac

I’m surprised his arms aren’t dislocated from patting himself on the back for 2+ years! “Liar, liar, pants on fire!”

 
igor
Guest
igor

i wonder if there are smug alerts issued after obama finishes giving his speeches?