- Your Town
This guy was re-elected?
To the editor,
American taxpayers took another hit from the president’s decisions. This one came as a result of his decision to bail out General Motors, now known as the Government Motors.
In essence, this company now belongs to the unions and Uncle Sam. The bail-out costs bond holders millions, and the original stock holders were left out of the deal. Taxpayer money was used to buy stock.
After the bailout, that stock went down and now the CEO of GM has stated that, like all investors, the government should swallow the loss of all that money and that there is no pay back owed to the government. Thank you Mr. President, for another waste of taxpayer money.
Put this along side of the 7 solar panel companies that got government loans and all went bankrupt, the electric car that got money from the energy department and went bankrupt followed by the electric car battery company, again government money and again bankrupt.
Shovel ready jobs that no shovels showed up for, $800 billion that was to go to roads, bridges and school repairs and it went to keeping union workers of the job.
The shock of all this was - it happened during his first four years - the news media covered it all up and the man was re-elected to office. What will he do for his last 3 years?