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Posts Tagged ‘Auto Industry’

chicken_shit

What’s another $2 Billion on top of the $1 Billion for the Clunker Car Program?  I’ll tell you, it’s $3 Billion in bureaucratic chicken shit, that’s what it is. 

“The House of Representatives approves $2 billion more for the popular but financially strapped “cash for clunkers” car purchase program, heeding calls from U.S. consumers who hope to keep taking advantage of the trade-in incentives.”

Called the Car Allowance Rebate System, or CARS, the program is designed to help the economy and the environment by spurring new car sales. Car owners can receive federal subsidies of up to $4,500 for trading in their old cars for new ones that achieve significantly higher gas mileage.  House Majority Leader Steny Hoyer said the new money for the program would come from funds approved earlier in the year as part of an economic stimulus bill. http://money.aol.com/article/house-oks-2b-for-cash-for-clunkers/597445

Heeding calls from consumers?  Wake the frig up. I bet half the cars in the heap of trade ins aren’t worth that in the first place.  The banks will finance folks for the full amount of the new car until payments can’t be made and people default on the loan or lease.   If I got a check for $4500 and couldn’t make my house payment or buy food, the car payment is last on my list.

Betcha they don’t even have to be an American Made.  Oh WTF?  The government ran out of money on a clunker program the first week and people believe it can run our health care system? 

Why not just give a few billion to ACORN so they can issue bad loans that will never get paid back again either.

I for one want to see exactly how many cars were sold last week, and under which brand- compared to the previous weeks sales.

Really, why not bail out the chicken farmer or the pork farmers with all this Swine and Avian Flu?  Oh, the privileges of socialism. 

To quote Mr. Traficant, Beam me Up! 

Photo props to http://scripting.wordpress.com/2007/09/04/scripting-news-for-9407/

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uncle_sam_taxes

Paying taxes is Patriotic? 

Congress is considering a National Sales Tax called a Value Added Tax-VAT in some circles. Forget about repealing all the income taxes already collected, they are planning to keeping the existing income tax and add a national sales tax on top of it.  How’s that for Patriotic?

Poor people who don’t make enough to make ends meet now will be forced to rely further on social services, further enhancing the debt and reliance on government.  Socialism, pure and simple.  

A commentator from the Say Anything Blog had this to say- http://sayanythingblog.com/entry/congress_considering_a_national_sales_tax/ that “Bush took 96 months to give us the largest debt in decades.  Obama took 4 months to QUADRUPLE that.”

This is the change you can believe in.  …”Everybody who understands our long-term budget problems understands we’re going to need a new source of revenue, and a VAT is an obvious candidate,” said Leonard Burman, co-director of the Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, who testified on Capitol Hill this month about his own VAT plan. “It’s common to the rest of the world, and we don’t have it.” 

I don’t have my armpits infested by the fleas of a thousand camels like some parts of the world either, but something stinks to high hell.  I understand that our economy and the world’s economy are fragile, but a VAT on top of what we already pay? Somewhere in this VAT is an angle for government subsidized healthcare, I just know it.  We are going to have to pay for the the Swine Flu Vaccine and Vaccine Stockpiles somehow, won’t we now?  Doing away with an antiquated tax code that our own Secretary of Treasury apparently couldn’t figure out is one thing, but not repealing it and expecting tax revenue on top of that is just greed and a nasty power play on the part of our elected democratic office holders.  Do they really want to be responsible for more burdens on the poor while they sit on the throne of power under the Obama reign?

You think a gallon of milk is expensive now?  A gallon of gas locally was $2.49 in Podunk USA- in the EU it is between $5-$8 per liter.  http://goeurope.about.com/gi/dynamic/offsite.htm?zi=1/XJ&sdn=goeurope&cdn=travel&tm=59&gps=294_333_986_501&f=10&su=p531.50.336.ip_&tt=2&bt=1&bts=1&zu=http%3A//www.eia.doe.gov/emeu/international/prices.html%23Motor

I get that not everyone pays taxes and that not everyone qualifies but for those of us who do; for the government to even consider a VAT is just another nail in the coffin of capitalism.  I am tired of scraping up the change off the floor to pay for President Obama’s proposed socialistic programs and endless bailouts.  If I wanted to own a car company, I would have purchased the stock on Wall Street.  I didn’t need a President to do it for me.

Patriotism is not getting your money for nothing and your tricks for free. Best link on the topic is here-

PHIL KERPEN: Be Afraid, Be Very Afraid of the Obama Administration’s Scary Trial Balloon

photo props to http://longdarkteatime.com/2004_02_01_archive.html

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200159459-001

I got my hands on the wheel….

Obama is keeping his Cadillac, but not Rick Wagner the head of General Motors.

Rick Wagoner has agreed to step down as General Motors chairman and chief executive at the behest of the White House as part of a plan to provide more aid to U.S. automakers, administration officials said today at http://www.latimes.com/business/la-fi-auto-bailout30-2009mar30,0,2247834.story?track=rss.

Cadillac has built limousines and special vehicles for U.S. presidents, diplomats, ambassadors and foreign dignitaries since the early 20th century. 

President Obama is expected to unveil plans for the American auto industry this week, including the fact that GM and Chrysler will be seeking more bailout money.  In yet another Barackstar appearance, on CBS’ “Face the Nation,” Obama said Sunday that the nation could have a “successful U.S. auto industry.”

The Presidential Task Force on the Auto Industry, headed by the Treasury Department is studying ways and means to make things more effective and avoid Chapter 11.  Members of the Force are of course,[ source http://www.whitehouse.gov/the_press_office/Geithner-Summers-Convene-Official-Designees-to-Presidential-Task-Force-on-the-Auto-Industry/]

Treasury Secretary Tim Geithner and—

  • National Economic Council Director Larry Summers
  • Secretary of Transportation
  • Secretary of Commerce
  • Secretary of Labor
  • Secretary of Energy
  • Chair of the President’s Council of Economic Advisers
  • Director of the Office of Management and Budget
  • Environmental Protection Agency Administrator
  • Director of the White House Office of Energy and Climate Change 

Senior Adviser on Auto Issues at the Treasury Department

  • Ron Bloom, Senior Advisor on the Auto Industry, Department of Treasury

Official Designees of the Members of the Presidential Task Force:

  • Diana Farrell, Deputy Director, National Economic Council
  • Gene Sperling, Counselor to the Secretary of Treasury
  • Jared Bernstein, Chief Economist to Vice President Biden
  • Edward Montgomery, Senior Advisor, Department of Labor
  • Lisa Heinzerling, Senior Climate Policy Counsel to the EPA Administrator
  • Austan Goolsbee, Staff Director and Chief Economist of the Economic Recovery Advisory Board
  • Dan Utech, Senior Advisor to the Secretary of Energy
  • Heather Zichal, Deputy Director, White House Office of Energy and Climate Change
  • Joan DeBoer, Chief of Staff, Department of Transportation
  • Rick Wade, Senior Advisor, Department of Commerce

The American taxpayer has already stepped up to provide GMAC with $5 billion of TARP so it can continue to allow GM to sell more cars at a $2,000 loss per car says http://seekingalpha.com/article/122787-as-gm-goes-so-goes-the-nation-part-2 and going on to note that GM has lost up wards of $72 Billion, with a B, dollars in the last three years.

B also stands for bribery.  Maybe Wagoner should go, but to leave at the governments request instead of a shareholder mandate is just another nail in coffin of capitalism.  We’ll give you the money honey,  but you have to do what we say.  Bribery is a kind word, I’d call it pimping, slaving or whoring under Obama’s socialism.

Generous Motors, er- General Motors… where as GM goes, so goes the nation.  The best outlook on it all so far comes in the form of a comment from http://seekingalpha.com/article/122787-as-gm-goes-so-goes-the-nation-part-2 — and I hope he/she is right in taking a different view of GM, …” expect them to return to profitability sometime in 2010, unless SAAR remains under 11M. GM spent a ton on worldwide platforms that are now the envy of the world. Their product launches over the last few years have been awesome, and into the future are just fantastic. If the economy wouldn’t have tanked, GM would already be reporting a profit. We’re earning 5% interest on our bridge loan to GM, which will, at worst, begin to be paid back in 2012, and if SAAR returns to 15B or up, much faster. The business moves that GM has made over the last five years or so have put GM in a much better competitive position. Of course, you’ll have to ask our government why they even allowed Japanese manufacturers in this country decades ago, when Japan doesn’t reciprocate, basically closing their 3 million car market to U.S. Manufacturers. Ask our government how they expected the domestic manufactures to compete with health benefits placed squarely on the companies back, while the Japanese have their benefits completely subsided by their government. It may not look like it for awhile longer, but the future is bright for GM. When America begins to buy cars again, and they will, then the GM recovery and return to profitability will shortly follow. Look for GM’s market share, relative to the market, to actually increase this year.”

Hey, my GMC truck still burns less carbons than Pelosi’s jet or Obama’s new helicopter any day.

For the record, Roger Moore can kiss the pin stripes on my American manufactured truck.

Go ahead and comment, you know you want to.

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