Obama Declares GM an American Success Story: They Still Owe Taxpayers $58 Billion

Let me ruin your day for you. Dear Leader Obama touted the success of General Motors yesterday as they were able to offer stock options. Watch Obama yesterday from the White House. Watch closely, the president is lying to you. See if you can catch it.



GM is a success? The American auto industry on the rise? Is he kidding me? More jobs? Have you been to Michigan lately? Where are the jobs?

The truth is GM is still in heavy debt to the American tax payer. GM owes the U.S. government $43 billion and GMAC still owes $14.6 billion to American taxpayers. With Obama's poll numbers sinking, he's fabricating this success story much like GM fabricated the claim the Volt would get 230 mpg.

Also what Obama didn't tell the taxpayers as he touts GM's success, is that US taxpayers have already lost $9 billion of the bailout money that will never be returned from this stock offering. As well, the improved sales Obama talks about from Detroit is from truck sales.

Now, these are the same trucks that Obama has launched a CAFE war on in hopes Americans will turn to greener vehicles. Are you upset yet?

So Obama is lying to the American people again. And I still want to know why Republicans like Billy Long took campaign contributions from a company that owes the American taxpayer $58 billion. Billy, would you mind answering that question, or are you too fed up with these kind of questions?