Friday, April 22

Obama and Dems to lose $11 Billion tax dollars on GM deal

You may find this hard to believe, but around 18 months ago Obozo ordered you, the taxpayer, to buy $50 Billion worth of stock in General Motors.

You do remember that, right?

This order was part and parcel of a deal in which GM and Chrysler bondholders were paid two cents on the dollar for their bonds, and the automakers' union was simply given a huge block of GM stock.

Wow, sweet deal, huh! At least for the union bosses.

Fast-forward to last November 18th: Nobel-winning economist Barack Hussein Obama said “American taxpayers are now positioned to recover more than my Administration invested in GM.”

That was just five months ago.

Today the Obozo administration is poised to sell its remaining stake in GM--and take a loss of a piddling $11 Billion.

Now, you may be thinking, "What the hell kind of plan did Obama and the Dems have in buying GM stock if they were gonna lose $11 Billion on the deal in just 18 months?"

Or you may be thinking, "Geez, just five months ago Obama claimed that taxpayers were 'poised to recover more than" he and the Dems paid (using your money) for the stake. And in just five months that's gone south by ELEVEN BILLION DOLLARS??? Whadda dummy!"

You bitter clinger, you. Cuz ya see, this is actually a brilliant move by the Obamites: It keeps this unconstitutional takeover from being as much of an issue--probably ANY issue--in next year's presidential election.

And six months from now, only a few political junkies will remember the entire fiasco anyway.

A year from now, Obama and the Dems will be claiming they MADE $2.857 BILLION on the deal--and only a handful of people with access to internet search engines will have any idea it's a total lie.

Orwell was absolutely right.


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