Doing the Math on Obama’s Detroit Bailout

Bloomberg Businessweek: 

According to Bloomberg, the bailout of GM and Chrysler saved 1,100,000 jobs and helped regain 55,000 of the 334,000 lost under the prior administration.

http://www.businessweek.com/autos/autobeat/archives/2010/08/

doing the math on obamas detroit bailout.html

Sources:

BAILOUTS WORKED – GENERAL MOTORS BECOME PROFITABLE, GAIN JOBS:

“We Almost Lost Detroit: How the auto bailout became one of Obama’s best talking points”

Dionne, E. J. The New Republic, August 2, 2010.

http://www.tnr.com/article/politics/76693/detroit-auto-bailout-obama

SAME ARTICLE APPEARED IN: http://www.npr.org/templates/story/story.php?storyId=128925681

WITH TITLE: “The New Republic: Obama's Auto Bailout Victory”

The Auto Bailouts Were Worth It

Rosevear, John. The Motley Fool, May 2, 2011.

http://www.fool.com/investing/general/2011/05/02/the-auto-bailouts-were-worth-it.aspx

The Resurgence of the American Automotive Industry”

The White House. June 10, 2011.

http://www.whitehouse.gov/sites/default/files/uploads/auto_report_06_01_11.pdf

“In Detroit, Obama Hails Auto Industry's Comeback”

Clark, Anna. TheNation, September 5, 2011   .

http://www.thenation.com/article/163152/detroit-obama-hails-auto-industrys-comeback

“Obama Hails Auto Bailout Success”

United Press International (UPI.com), July 31, 2010.

http://www.upi.com/Top_News/US/2010/07/31/Obama-hails-auto-bailout-success/UPI-41361280570400/

“Touring Detroit, Obama Hails Bailout”

Terlep, Sharon. Wall Street Journal,  July 31, 2010.

http://online.wsj.com/article/SB10001424052748703999304575399302833637016.html

“Obama: Auto bailout saved 1 million jobs”

Kara Rowland. The Washington Times,  Thursday, August 5, 2010.

http://www.washingtontimes.com/news/2010/aug/5/obama-auto-industry-bailout-saved-1-million-jobs/

“Study: US Saved $28.6 Billion in Auto Bailout”

Bloomberg News, 17 Nov 2010.

http://www.moneynews.com/FinanceNews/US-Saved-28-6Billion-Auto/2010/11/17/id/377352

GENERAL MOTORS AND CHRYSLER REPAY LOANS IN FULL

 “White House Exults in General Motors Repayment”

Knoller, Mark. CBS News, April 21, 2010.

http://www.cbsnews.com/8301-503544_162-20003116-503544.html

“Obama: GM's Stock Sale Shows 'Tough Decisions' Paid Off”

CNN Wire Staff, CNN.com, November 19, 2010.

http://edition.cnn.com/2010/POLITICS/11/18/obama.gm/index.html

G.M. Workers to Get $189 Million in Profit Sharing

Bunkley, Nick The New York Times, February 14, 2011.

http://www.nytimes.com/2011/02/15/business/15auto.html?_r=1&partner=rss&emc=rss

“Chrysler Repays Its Government Bailout Loans”

Alex Eichler. The AtlanticWire, May 24, 2011.

http://www.theatlanticwire.com/business/2011/05/chrysler-repays-its-government-bailout-loans/38092/

“Chrysler Pays Back Rescue Loan”

Vlasic, Bill. The New York Times, May 24, 2011.

http://www.nytimes.com/2011/05/25/business/25chrysler.html

“CEO says Chrysler Group is now square with the American taxpayer”

St. Petersburg Times Politifact.com, (Statement by FIAT Chairman Sergio Marchionne), May 24th, 2011.

http://www.politifact.com/truth-o-meter/statements/2011/may/26/sergio-marchionne/ceo-says-chrysler-group-now-square-american-taxpay/

USE THIS ONE AS LAST RESORT!!!

“Auto Industry Bailout: Another success for Team Obama”

Thomas, Kelly. Republicans for Obama, 24 May 2011.

http://www.republicansforobama.org/node/9391

(Information on this group: “. . .we represent a cross-section of the millions of Republican and conservative independents who support President Obama's reelection in 2012.

 Although we have campaigned, worked for, and voted Republican all our lives, we recognize that President Obama is the right leader for our country at this time. Our current Republican leadership is unable to stand up to the most extreme elements in our party, no matter the circumstance. Meanwhile, President Obama has challenged his own party on numerous issues, including taxes, healthcare and foreign policy. President Obama has forged a pragmatic, common-sense path forward during a challenging time. . . President Obama has rejected the politics of division and the win-at-all-costs attitude that has hurt our ability to move forward as a nation. While we as Republicans will not always see eye to eye with President Obama, we know that his politics of unity is the only way forward for America.”)

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