Possible Third Bailout for Obama Motors

Hold onto you wallets folks, ObamaMAC may get even more of your tax dollars handed to them.

The U.S. Treasury Department is in talks with GMAC Financial Services Inc about a possible third cash infusion to the company, an Obama administration official confirmed. The official declined to say how much additional money was under discussion for GMAC, which already has received $12.5 billion of taxpayer funds. The Wall Street Journal said the government may have to inject another $2.8 billion to $5.6 billion into the Detroit-based lender.

GMAC is the traditional lender to General Motors dealers and customers and is taking over the auto loan business of Chrysler.

With the U.S. auto industry still struggling as key companies like GM come out of bankruptcy, the administration has shown signs of willingness to step in to help them try to get back to stability.

This means that they have burned through $12.5 billion in less than a year and still can't get it right. Where is the exit strategy here? When is enough enough? How much of our hard earned tax dollars (I know, I know, the Marxists in charge hate the concept of hard work and earning money) are going to be shoveled into this furnace?

For those who think government-run health care is a good idea, look at this situation with the auto companies and project the same situation onto your family's health.

Good luck.

Obama Announces Economy-Crushing Emissions Mandate, GM Cuts 2000 Jobs

Of course, King Obama is doing it to save the planet. Nothing too ambitious, of course.

"For the sake of our security, our economy and our planet, we must have the courage and commitment to change," Obama said in his first formal event in the ornate East Room of the White House.

"It will be the policy of my administration," he said, "to reverse our dependence on foreign oil while building a new energy economy that will create millions of jobs."

Oh, so it will create millions of jobs?

Hmmm.

General Motors Corp. says it will cut 2,000 jobs at plants in Michigan and Ohio, and it will halt production for several weeks at nine plants over the next six months due to slow sales.

GM spokesman Chris Lee said Monday that the company will eliminate the second shift at its Delta Township plant near Lansing, Mich., on March 30, and the second shift at its Lordstown, Ohio, plant will end April 6.

About 1,200 workers will be laid off at the Michigan plant, while 800 jobs will be cut in Ohio.

Lee says the cuts are part of the Detroit automaker's continuing efforts to "align production with market demand."

No doubt forcing mandates on the auto manufacturers will cost jobs. Where are these millions of jobs the government is going to allegedly create come from?