Well…I just have to hand it to ole Mitt and his chutzpah over the past few days, trying to take credit for the success of the auto bailout….yep, the guy who famously said “let them go bankrupt” is now taking credit like he was the one who provided the money and the guts to save 3 million jobs in the auto industry…what a load of crap! What ole Mitt wanted was for the companies to go through what he did to other companies while he was at Bain…that is for them to shed all of the middle class, union jobs, replacing them (or not replacing them) with many, many fewer, low paying jobs so his vulture cronies could come in, destroy the companies while piling up billions in fees that would go to the 1%. So, if ole Mitt can take credit for the bailout, shouldn’t I be able to say the same thing since I advocated some form of restructuring a few years back? Let’s remember one thing here….that restructuring takes money, money that was not even available to high profit companies like GE during the financial meltdown…something that ole Mitt is conveniently forgetting…that the government was the lender of last resort and that there just was NO private money for the process. What a liar…..
Tag Archives: automobile industry
Hold the victory laps here in Michigan….
Well…there has been a new theme that has surfaced in the repub talking points here in Michigan that is audacious to say the least, or just another incidence of the repubs taking credit for the recovery that they had no hand in. You decide. This latest theme or story, tries to tell the narrative that it is only the repub policies of cutting taxes for business, and raising them for everyone else that is responsible for the nascent recovery here in Michigan and that we should continue these policies or we will fall back into recession. I can’t even name how many ways this is wrong, but I’ll give a couple a try. First, it’s never been proven and it has never been documented that one job was ever created by tax cuts for business….especially in an environment where corporate cash on hand and profits are at the highest level in history…so, they won’t invest with a billion dollars on hand but they will if they have 1.25 billion on hand? the whole story is demand, demand, demand….and if middle class wages continue to fall, demand will fall along with it. Second, most of the job growth here in Michigan has been in and related to the recovery of the auto industry that the repubs vehemently opposed and still do….so now, they take credit that their policies resulted in this recovery? Just another instance where the repubs will do or say anything; counting on the electorate to have no memory at all of history or the truth. I guess it’s up to me to remind people….geez…