I like Obama OK but saved the American car industry? He handed GM a check. Those funds didn't come out of his account. GM should have filed for bankruptcy, trimmed the fat and hunkered down in a leaner version of its former self.
It was definitely a tough decision to be faced with right out of the blocks. I respect his ability to make the tough calls but will taxpayers ever get their money back? Was anything done to see that they don't repeat down the road? Or did he basically slap them on the back and say carry on fellas.?
I didn't think anyone assumed the money came out of his personal account, but it was his leadership that saved that industry, which I thought was clear by what I meant. Most people at the time were saying the auto industry should save themselves -- go through bankruptcy restructuring, etc.
I think you really exaggerate how "easy" this decision was to write a check -- it was not a popular decision at the time. That money had to come from Congress, remember, it isn't like Obama can write checks when he feels like it.
Totally reasonable to debate whether GM and others should have been given money, but most of that money was paid back and that industry is doing better now:
So I think it's valid to say his leadership prevented a domino collapse of that industry through those government loans and it didn't really cost the government much, if anything, except maybe setting a bad example that auto companies can depend on government help in the future?
It was definitely a tough decision to be faced with right out of the blocks. I respect his ability to make the tough calls but will taxpayers ever get their money back? Was anything done to see that they don't repeat down the road? Or did he basically slap them on the back and say carry on fellas.?