Auto Bailout Success? For Union Workers, Maybe
President Obama’s auto bailout is being touted as a great success of his Administration. Speaking in Detroit at a Labor Day rally, Vice President Joe Biden used it to explain how Americans were better off. “Osama bin Laden is dead and General Motors is alive,” Biden boasted.
In Charlotte, former President Bill Clinton cited the bailout as a manufacturing success story, and former Michigan Governor Jennifer Granholm (D) sang its praises. But taxpayers lost $25 billion. Plants were closed, jobs were lost, and nearly three years later, the government still owns one-third of General Motors.
There is a story that President Obama and these others are not telling—the story of the 20,000 workers who lost nearly all of their pensions because the Obama Administration chose not to protect them. Let Freedom Ring released a video highlighting this story.