Posted by: arnegrim | June 7, 2011

Obama spins the facts

“…President Obama traveled to Ohio last week to tout what the administration considers a good-news story: the rescue of the domestic automobile industry…

…What we found is one of the most misleading collections of assertions we have seen in a short presidential speech. Virtually every claim by the president regarding the auto industry needs an asterisk, just like the fine print in that too-good-to-be-true car loan…

“Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency …”

…According to the White House, Obama is counting only the $8.5 billion loan that he made to Chrysler, not the $4 billion that President George W. Bush extended in his last month in office. However, Obama was not a disinterested observer at the time…

“All three American automakers are now adding shifts and creating jobs at the strongest rate since the 1990s.”

…The official Bureau of Labor Statistics data refers to the entire auto industry — including foreign auto manufacturers, auto parts manufacturers, auto parts dealers and auto dealers

“GM plans to hire back all of the workers they had to lay off during the recession.”…

…Obama is only talking about a sliver of workers — the 9,600 workers who were laid off in the fourth quarter of 2008…”

http://www.washingtonpost.com/blogs/fact-checker/post/president-obamas-phony-accounting-on-the-auto-industry-bailout/2011/06/06/AG3nefKH_blog.html

#1 This is the same financial accounting that continues to plague the federal government and put the economy at risk.

#2 It’s very possible that the majority of the jobs added were NOT at one of the Big 3… but the rest of the sector that the numbers reflect.  This is disingenuous at best… and very possibly an outright lie.

#3 4th quarter of 2008… that’s a short recession!

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