Tag Archives: automaker bailout

GM owes its existence to government?

Donald John “Smart Gut” Trump has blasted General Motors for closing plants and for announcing plans to lay off as many as 15,000 employees as part of a company restructuring.

I laughed when I heard the president declare that the government “saved” GM “and this is the thanks we get.”

Oh, wait! That rescue mission was launched during the first term of President Obama. Do you remember that one? The auto industry was in trouble. The new president got Congress to approve a massive bailout for automakers. The money propped them up, helped preserve them; it saved them from collapse.

Then the automakers paid the government back for the money they received!

I guess what rankles Trump the most is that GM’s decision to lay off those workers turns one of the president’s signature campaign promises into, well, an empty campaign promise.