At the DNC they keep saying Obama saved the auto industry. In a few cases they even say Obama brought them back to #1. Here are the facts, you decide. First GM is now ranked #7 and 63rd in profits. GM owes you the tax payer 40 billion dollars. Also the Government (you) now owns 26% of GM. After the bailout (2010) GM sales have droped 30% and has had a stock loss of 39% which means you the tax payer have lost $16.4 billion in stocks. Forbes Mag. says GM is on the verge of bankrupsy and will need another bailout ( or Gov. takeover ) within the next 4 years to stay in business.
PS. Ford refused to take a bailout and is ranked #4 and 44th in profits.
Another lie.
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