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So......they are claiming to be repaying money they never used?
The shell game being played by obama is transparent and dirty. Once again, his hardened, deadend supporters have been duped. You would think that after a while, they would realize they're being lied to.
Let's put it in easier terms so you'll understand. If I borrowed $100,000 and had five years to pay it back. Then I found out I wasn't going to need all of the $100,000 and so I made early payments to give back $75,000 of the money I borrowed and didn't need plus another $25,000 that I made by going mean and lean. Would you call that a shell game?
Let's put it in easier terms so you'll understand. If I borrowed $100,000 and had five years to pay it back. Then I found out I wasn't going to need all of the $100,000 and so I made early payments to give back $75,000 of the money I borrowed and didn't need plus another $25,000 that I made by going mean and lean. Would you call that a shell game?
No because that is the money from the same pot. If you only took out one loan then that is the same money you borrowed that you paid back.
Do you know how many different "loan" programs the government is currently running ? And each one is considered separate.
Let's put it in easier terms so you'll understand. If I borrowed $100,000 and had five years to pay it back. Then I found out I wasn't going to need all of the $100,000 and so I made early payments to give back $75,000 of the money I borrowed and didn't need plus another $25,000 that I made by going mean and lean. Would you call that a shell game?
They still OWE the government $43 Billion. The money was in ESCROW, meaning NOT in their possession. They never took the money, so it would be impossible to pay it back.
They still OWE the government $43 Billion. The money was in ESCROW, meaning NOT in their possession. They never took the money, so it would be impossible to pay it back.
How is this Obama in a positive light? The company burned through $25B in cash this year and took on $40B in NEW debt. What part of all of this is positive, and what the heck does it have to do with Obama? BUSH bailed them out.. NOT Obama..
CAUTION!
Here's a dose of reality. You may not want to get too close.
As it turns out, the Obama administration put $13.4 billion of the aid money as "working capital" in an escrow account when the company was in bankruptcy. The company is using this escrow money--government money--to pay back the government loan.
GM claims that the fact that it is even using the escrow money to pay back the loan instead of using it all to shore itself up shows that it is on the road to recovery. That actually would be a positive development--although hardly one worth hyping in ads and columns--if it were not for a further plot twist.
Bend over, GM has a new electric prod it needs to park.
Bush resisted a bail-out for Detroit. Obama pushed it through last year against fairly stiff opposition.
What the heck are you smoking.. Will the government bail out GM as it did Chrysler? | Hubdub (http://www.hubdub.com/m12544/Will_the_government_bail_out_GM_as_it_did_Chrysler - broken link) President Bush announce a loan package to both GM and Chrysler totaling $17.4 billion to insure that the companies would not go bankrupt. Although this is not exactly the same package as was offered to Chrysler back in the 1980's, it does satisfy the premise of the question.
In no way shape or form did OBAMA push the loan through.
That's less than 10% of what they currently owe taxpayers, and they will undoubtedly ask for more bailout bucks very soon, thanks to their anemic product lineup, and that forthcoming bound-to-be-a-major boondoggle known as the Volt.
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