December 5, 2012
Posted by Seton Motley
Note: This first appeared in NewsBusters.org.
Everywhere you turn, there is an incessantly recurring Media theme.
It seems the Chevrolet Volt has for the second year in a row topped a Consumer Reports satisfaction survey.
And the Press can’t get enough of issuing General Motors (GM) press releases.
You may also have seen this incessantly run Chevy Volt television advertisement featuring “satisfied” Volt owners.
“I go to the gas station such a small amount that I forget how to put gas in my car.”
Left out of all of these “news” items – and the ad – is the gi-normous Chevy Volt government money back story.
Or liking President Barack Obama “because he gives me stuff.” Or because (you think) “I won’t have to worry about putting gas in my car. I won’t have to ….”
Here’s a shocking news flash: People like government klepto-conduits giving them Other People’s Money.
And the Chevy Volt is a rolling, multi-billion dollar Obama Bucks-mobile.
There’s the more-than-$3 billion-in-federal-government-subsidies-alone spent thus far on the Volt.
Behold another bribe: The Volt costs GM $89,000 to manufacture – but they charge all these happy handout recipients only $40,000. And that’s before the $7,500 federal payola – and the various state palm greasers.
And GM is cutting even more, more absurd deals.
Speaking of the manufacturer: There is perhaps no bigger government money handout recipient than GM. They received $50+ billion of We the Taxpayers’ money – in the $83 billion auto bailout. A bailout on which we are losing more than $42 billion.
And GM has since become:
$26.5 billion of the ($42+ billion auto bailout) loss was a straight payoff to the…United Auto Workers (UAW) union….
President Obama illegally carried forward through the bankruptcy the ridiculously exorbitant UAW contracts….
During the bankruptcy process, President Obama illegally paid off the UAW first and in full….
90+% of GM auto loans are now of the Freddie Mac-Fannie Mae-esque subprime variety – made to people whom GM and everyone else know can’t pay them back.
I would imagine all of these folks are “satisfied” too.
Other People’s Money – conscripted by government and given to you – is sadly all too satisfying for far too many Americans these days.