Plantagenet wrote: Trump is demanding that GM restart production of the Volt and other sedans, or repay all the bailout money to the US treasury. That seems reasonable to me.
Q: Did General Motors repay its TARP loan from the Treasury with other TARP money?
A: Yes, it’s true that GM paid back its loan from the Treasury Department, in full, ahead of schedule.
But the debt was only part of the automaker bailout package. Through the Troubled Asset Relief Program, the Treasury gave GM $49.5 billion, most of which was converted into an ownership stake in the form of stock. Through this equity stake, the government still owns 61 percent of GM.
Some Republicans, including Sen. Chuck Grassley of Iowa have pointed out that GM used TARP money to pay back its TARP debt. That’s true, but GM simply handed back TARP money it had been lent and hadn’t used. Those funds had been sitting in an escrow account, should the automaker need them. (The company didn’t borrow new money to pay back an older loan.)
https://www.factcheck.org/2010/05/general-motors-debt/
Plantagenet wrote:The claim that GM repaid the money it received from TARP turns out to be just more "fake news".
In actuality, GM gave the Obama administration shares in GM......and the geniuses in the Obama administration sold those shares at an 11.3 billion dollar LOSS.
Plantagenet wrote:IMHO its shameful that Obama and the Ds are choosing to remain silent on GM closing US factories and firing US workers. Its seems like the Ds could at least be bi-partisan on an issue like this, but the Ds, being who they are, are unwilling to join with Trump in putting pressure on GM to try to save US jobs.
Cheers!
[b]Democrats blast General Motors' cuts - Detroit Free Press[/b]
WASHINGTON — Congressional Democrats let loose on General Motors' decision to close plants in Michigan and Ohio on Monday, saying that the company got millions in tax breaks heralded by President Donald Trump but that they haven't saved workers. ........
https://www.freep.com/story/money/cars/ ... 115399002/
Michigan Democrats threatening to pull $2 billion tax credits from GM
In the wake of the automaker's decision to layoff Michigan workers, Michigan Democrats are threatening to pull $2 billion dollars in tax credits from General Motors.
http://www.fox2detroit.com/news/local-n ... ts-from-gm
Plantagenet wrote:Its a bit harder to criticize Ford for cancelling the Fiesta, since they never took a penny of bailout money. However, GM took over 12 billion dollars of taxpayer funded bailouts from the Obama administration.
Trump is demanding that GM restart production of the Volt and other sedans, or repay all the bailout money to the US treasury. That seems reasonable to me.
I'm surprised that Obama and the Ds aren't joining Trump in lambasting GM for ending production of the Volt, but I guess that the Ds all hate Trump so much that if Trump speaks out against GM cutting US jobs, then the Ds automatically feel they have to be in favor of GM destroying US jobs.
Cheers!
Let's remember, they're only about "fiscal responsibility" when complaining about R spending priorities. NOT when buying votes with their own spending priorities.
GHung wrote:Let's remember, they're only about "fiscal responsibility" when complaining about R spending priorities. NOT when buying votes with their own spending priorities.
And how is that different from the Republicans? Both parties live in glass houses, and both parties buy votes with my tax dollars. You all sound juvenile from an independent's point of view. Maybe you should just do repeat posts of "I know you are but what am I?".
Outcast_Searcher wrote:... considering how many votes the D's get from the unions and their influence, it's not at all surprising to me that the D's won't go against the UAW.
Plantagenet wrote:Trump and denouncing GM's move to end the Volt
asg70 wrote:....Trump singles out the Volt as some sort of sacred car worth saving
Plantagenet wrote:You can fantasize that the Volt is "some kind of sacred car" all you want, but Trump hasn't said anything like that.
asg70 wrote: stop trying to connect Trump to the Volt.
Plantagenet wrote:1. GM announced they were were ending production of the VOLT and several other cars. GM said they would close the factories and lay off all the workers.
2. Trump demanded that GM not take those steps, and then he directed Federal agencies to try to end all federal subisidies to GM unless they changed their plans. Sorry to have to break it to you, but the Volt is one of the cars that Trump wants GM to keep producing.
asg70 wrote: Trump is some sort of environmentalist.
Plantagenet wrote:You suggestion that Trump is "some sort of an environmentalist" is idiotic.
asg70 wrote: I made no such suggestion. I suggested that you are making such a suggestion
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