General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRemember the auto bailout during the great recession?
Remember how furious rethugs were?
Remember network TV covering their fury every night?
Remember rethugs saying we should let the auto companies go out of business?
Whelp..............
Link to tweet
?s=20
*crickets*
underpants
(182,925 posts)Everyone was split. From economics to politics to governance..he was on his own. He had to make a choice. He did. Really it was an easy choice .....but he made it.
The ship was upright but this was a HUGE decision. That and the middle class tax cuts and the Social Security holiday and QE .. everything was thought through, dissected, turned over 12 times.
Cartaphelius
(868 posts)how much of the $28 Billion actually got to the farmers...
mindem
(1,580 posts)has been sucked up by huge corporate farms.
magicarpet
(14,181 posts)Trump administration showers Brazilian crooks with $62M bailout money meant for struggling U.S. farmers
Link
https://www.nydailynews.com/news/politics/ny-trump-administration-bailout-farmers-brazilian-criminals-20190516-6rdb3ithvfec7fttem7qrny54y-story.html
TwilightZone
(25,493 posts)Of course, the same can't be said of Obama and the auto industry.
mnmoderatedem
(3,729 posts)all his life, trumpie has had someone following him around with a big pooper scooper to clean up his messes. This time it's the American taxpayer.
And no one even seems to notice.
Initech
(100,107 posts)Here, watch Dancing With The Stars and get fat and stupid. Here's a shiny new iPhone and some Airpods. Go back to bed, America.
Martin Eden
(12,876 posts)That was my first thought, along with saving long term manufacturing jobs.
Initech
(100,107 posts)And this one we might not ever recover from. If we're not there already.
virgogal
(10,178 posts)Initech
(100,107 posts)And if there's one thing you don't fuck with, it's the Fed. I mean one fraction of one percentage in the interest rate and GDP could alter whole economies of the world. If Trump gets a hold of that, he's going to sink the economy into oblivion. It would be game over at that point.
virgogal
(10,178 posts)roamer65
(36,747 posts)The fucking Repukes had better shut up about deficits or else.
gab13by13
(21,418 posts)CentralMass
(15,265 posts)MichMan
(11,988 posts)But in the end it only cost tax payers 10.2 billion.
https://www.thebalance.com/auto-industry-bailout-gm-ford-chrysler-3305670
greyl
(22,990 posts)rather than "over twice as much spent to save the auto industry".
MichMan
(11,988 posts)$28 billion is NOT twice as much as $80 billion. The article is an outright lie
greyl
(22,990 posts)OhioVoterBlue
(16 posts)It was an attempted loan and repayment situation to sustain the economic impact of jobs, etc. This farm bailout makes no attempt to make the taxpayers right in the end. Also, this is just the first year's payment. How much will it cost to prop up the fallow fields, broken trade partnerships, and completely f'D supply chains? Cash for clunkers got ppl to buy new cars they maybe otherwise wouldn't have. Cash for corn? Subsidize the farmers' side, and also have artificially low cost for produce? Kroger and Walmart won't take the losses either. This guy is a real wunderkind of stupidity!