The Conservative Fantasy History Of Civil Rights
Leslie Odom Jr.: We Are Not All Artists the Same
President Obama's number one success story to date is the miraculous management of the auto industry bailout, which essentially ensured the economic stability of the Midwest. But will President Obama's leadership in righting GM and Chrysler's near-collapse be remembered when folks from "car country" return to the presidential polls in 2012? Black business news site The Network Journal offers an interesting angle on President Obama's prospects:
Playing defense on the economy, President Barack Obama may have found a potent "I told you so" argument in the rescue of General Motors. But will he get any credit for it?
Obama [recently visited] a Chrysler plant in Kokomo, Ind. ... with Vice President Joe Biden, reprising similar trips he made last summer to GM, Ford and Chrysler plants in Michigan and Illinois. His stewardship of the auto bailout - begun under President George W. Bush in the waning days of his term - could weigh heavily on the minds of voters throughout the industrial Midwest. Obama picked up key electoral votes there in 2008 but recently watched states like Michigan and Ohio elect Republican governors and members of Congress.
General Motors launched one of the largest initial public offerings in U.S. history [recently] more than a year after it was pushed into bankruptcy by the Obama administration at a taxpayer cost of about $50 billion. The rescue of GM and Chrysler was roundly criticized by many Republicans and tea party candidates who said the government should not have intervened to save the carmakers.
"Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinational corporation to economic viability?" asked House Republican Leader John Boehner of Ohio when GM filed for bankruptcy in June 2009.
GM might prove Boehner wrong, giving Obama a stronger hand in the debate over how the government handled the auto meltdown. The bailout still remains unpopular with many Americans - and the futures of GM and Chrysler are far from certain - but GM's return to the New York Stock Exchange and an expected IPO from Chrysler in 2011 could give Democrats a vivid example of economic recovery.
"The critics said this would never work. But the critics were wrong," said Austan Goolsbee, Obama's top economist ... Ron Bloom, one of the leaders of the auto task force, said in an interview that the rescue averted "a swath of economic devastation that would have remained as a scar on our nation for a long, long time if the president had not done what he did."
Read the rest on The Network Journal.
As Tea Party and GOP members of Congress get ready to dig in their heels and fight President Obama on a myriad of issues that could be a big help to workers like the bail out of the auto industry, let's hope the people of the Midwest remember who saved their regional economy in the 2012 elections. In addition, all of America should take note of the fact that the party that wanted to let the auto industry die, no matter what the cost to millions, will be in large part at fault if few of President Obama's jobs creation plans go through. For while many in the Tea Party and GOP are against President Obama's ideas, not one segment of these so-called conservative groups has offered any viable alternatives.
I say "so-called conservative," because there is nothing conservative about sitting idly by and blocking President Obama's attempts to help the American people as our economy stagnates. That is not being conservative. That wicked behavior is more rightly termed "destructive."
Comments: (8)
Add a comment
By: Brady on 11/30/2010 5:10PM
Girl Please!
President Bush approved the $17.4 billion auto bailout, with $13.4 billion in emergency loans to prevent the collapse of GM and Chrysler and another $4 billion to be handed out in February of 2008. THAT IS IT WAS APPROVED BEFORE OBAMA TOOK OFFICE!
In other words this was Bushs plan. So let me get this correct, you and others blame him for failure of the economy, but wont give any credit for action "HE" took, instead you give it to Obama.
As of March all obama had to do was "determine if the automakers were meeting the conditions of the loans and if they would continue to receive government aid or must repay the loans and face bankruptcy." THATS ALL HE HAD TO DO!!!!!!
The money for the loans will came from the $700 billion bailout that was previously approved by Congress. "PREVIOUSLY APPROVED BY CONGRESS"
And you call this "miraculous management"
Jesus, this is ridiculous in its omission of basic facts.
Reply to this Comment | Report This
By: Alexis Stodghill on 11/30/2010 7:37PM
IF YOU READ the article, you would see that the fact that Bush started the auto industry bail out is clearly spelled out.
Obama could have stopped it or managed it poorly. Obviously. Right?
Obama actually FACED MASSIVE OPPOSITION in order to continue the plan and implement it in the way he chose to, which WORKED.
So maybe you should give him some credit, too?
Reply to this Comment | Report This
By: Brady on 11/30/2010 9:34PM
Of course Ms Stodghill, Im not unreasonable. But miraculous! Come on. You are intentinally over playing Obama.
You want to give him credit, fine be me, but lets keep it real, lets keep the gushing, exaggerating and glorifying to a minumum.
Miraculous, of the nature of a miracle; preternatural,So astounding as to suggest a miracle; phenomenal: a miraculous recovery; a miraculous escape, ble to work miracles.
No my dear, he did not perform some miraculous act, what he did was oversee a program, inwhich the guidlines where already in place. Still there is room to give the President his due.
So if you want to grant him saint hood for that, go ahead, but just no you lose a lot of credability
when you enlarge a story beyond the bounds of the truth.
Report This
By: Brady on 11/30/2010 9:43PM
One more thing, why is this commentary called
Obama's Successful Auto Industry Bailout, shoudnt it read Bush's Successful Auto Industry Bailout. Which is more accurate, the former or the latter?
You and I both agree, who started it, so why isnt his name in the title?
Again this goes directly to gushing, exaggerating and glorifying, which in my opinion hurts your credibility.
Report This
By: Alexis Stodghill on 12/01/2010 10:55AM
This is really amazing to me, only because:
1) The article gives Bush credit for starting it, and
2) The people you probably support now, who would have been supporting Bush then, fought tooth and nail to stop the auto industry bailout. Every conservative in the world was against Obama in his implementation of it, and used the auto industry bailout as a tactic to shame him and all Democrats.
You can't have it both ways. I think it became his -- obviously -- when he had the wisdom to continue it, and the political will power to go it ALONE in the face of massive opposition of people like you.
Now the Bush tax cuts for the wealthiest Americans -- that's a different story. Something one president started that another wants to end. If Obama CHOOSES TO KEEP THEM they will then become Obama's tax cuts for the wealthy. Then of course, people like you will suddenly be against them.
The conservative party these days are very contrary.
Reply to this Comment | Report This
By: Brady on 12/01/2010 4:49PM
Well you have had you say, and you gave me mine.
Nothing more to say. Except, Im not a conservative, registered independent.
happy holidays
Report This
By: Alexis Stodghill on 12/01/2010 11:02AM
And if you cannot see that it is a miracle that the auto industry in America when from being on the edge of extinction to attaining a second and new life -- I HAVE NO IDEA OF WHAT TO SAY TO YOU.
I can only say that it's terribly ironic that Obama's opponents wanted to crush it, even though it had its germination in Bush's presidency.
Now that Obama has fully implemented what was only a plan that was partially in place, you conservatives want all the credit -- for something you wanted to crush in the first place.
Yes -- that's what you call leadership -- NOT!
That is why I am calling out conservative leadership as contrary and destructive at all costs. You will say and do anything to make Obama look bad even if it destroys the country.
I hope people wake up to these shenanigans and see them for the useless, manipulative power plays that they are.
Reply to this Comment | Report This
By: Brady on 12/01/2010 4:51PM
Oops originaly place this ion the wrong section.
Well you have had you say, and you gave me mine.
Nothing more to say. Except, Im not a conservative, registered independent.
happy holidays
Reply to this Comment | Report This