Barack Obama wants to repeat the “success” of auto bailout with every industry.
The U.S. government will lose about $23 billion on the 2008-2009 bailout of General Motors and Chrysler. The extra UAW subsidies in the auto bailout cost $26.5 billion—more than the entire foreign aid budget in 2011. The Detroit auto bailout was, in fact, a UAW bailout.
The Politico reported:
“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”
Now Obama wants to repeat that “success” with every industry.
We’re screwed.
