Thursday, December 22, 2011
Numbers That Drive Rethugs Crazy
Back in 2009, when the U.S. auto industry was teetering on the brink of bankruptcy, most prominent Rethuglicans were absolutely against any Government loans to keep the industry alive, calling it the "road to socialism," never mind that they were loans expected to be paid back. The U.S. auto industry is not only the source of jobs for car makers themselves, but it supports jobs in the steel, glass, rubber, plastics, and electronics industries to name a few; in other words, the Rethugs would have taken hundreds of thousands of jobs away across America in order to weaken the economy under President Obama.
Sadly for the Rethugs, but good for America, the auto industry has rebounded with a bang, with U.S. automakers selling about 1 million more cars than in 2010. The Government loan enabled the automakers to retool, reorganize and get back on a healthy footing, with the initial loans paid back with interest to the Government. Better still, U.S. auto companies have been able to hire back nearly everyone that was laid off, because of the booming sales.