NTPA Alert: Barack Obama, Auto Czar

Barack Obama, Auto Czar

Stating that President Barack Obama is a Keynesian is as obvious as stating that Congressman Anthony Weiner made a mistake. President Obama neither denies that he’s a follower of the British economist nor does he seem to reject any of his teachings. So despite the fact that there is literally zero evidence that Keynesian economics works, the President continues to be it’s biggest fan.

In his effort to spread the Gospel of Keynes, Barack Obama isn’t above fudging the numbers a bit. An obvious case in point is his defence of the bailout of the American auto industry, a controversial move that he claimed was needed in order to preserve hundreds of thousands of American jobs. The problem is, 17 months from his potential re-election, the president is forced to be, shall we say, less than honest about the facts of the bailout.

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

Read the last three words of that statement because that’s the key part of his answer. The president is conveniently leaving out the fact that Chrysler never paid back the $4 billion loaned by the Bush Administration. For the record even the Treasury Department admits that U.S. taxpayers will not recoup about $1.3 billion of the entire $12.5 billion investment.

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

Ummm, since 2006, GM has laid off some 68,000 hourly and salaried employees. They’ve since re-hired some 8,600, a few short of the 68,000.

It’s important to call any president out when he knowingly misleads the American people. It’s too bad Democrats put on such thick rose-colored lenses when a fellow Democrat is in The White House.

For more detailed info on this subject, read this.