UAW may owe Obama, but the country does not

NY Times:

Obama Revs Up Oratory, Reminding Autoworkers of Bailout

President Obama channeled his 2008 campaign persona in an energetic speech before the United Auto Workers conference in Washington.
The President has resorted to snark to defend his unpopular auto bailouts of the UAW.  The union is staying bought, but Obama did a disservice to the investors by moving the unions ahead of the bond holders who were sold secure assets.  The country has been left with huge losses for the two companies that were brought to ruin by the union contracts in the first place.  Many Americans are resisting the bailout cars because of their anger over the deals.  I have been buying Fords of late.

These deals were much worse for the US than the bank bailouts which have largely been repaid with interest.  Yet Obama and many on the left continue to hammer the banks and give these guys a pass.  The voters should not make that mistake.

The Wall Street Journal points out an $18 billion tax benefit given to GM that should have been wiped out by the bankruptcy.  Michele Malkin tells how non union workers got screwed by the Obama-UAW deal.


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