Thank you Obama.
We still have some of our former manufacturing base here so that we have something to start with to regain the profits from all the manufactured goods that Americans are purchasing.
Since advanced manufacturing is a key to new technologies, we will not fall further behind other countries. We will also keep the many high wage jobs for suppliers, engineers, managers etc.
We gain high taxes rather than paying for unemployment and food stamps.
We will not be totally dependent for our very survival on other countries, including some that are rivals, given the long history of world conflict.
Unions will continue to be one of the only remaining voices for average working people versus the money and power of the American elite.
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STATHI STATHI
Jessica Bell
Brazen Princess
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Charlie Ganss
just phyllis for now
Salon.com
Comments
The Treasury holds 500 million shares of GM stock. They paid back a large chunk.
To break even, they need to sell at a higher price.
However, even if they don't directly break even on the deal, the indirect benefits to the government through lower transfer payments makes this a huge win.
Originally, this was just going to be jobs program and most people expected zero return.
Saved all their suppliers.
No one wanted it to come to it. But when the choice was to take some direct action or simply wait around until the industry crumbled, the current relative success makes this a big win for everybody.
Do you want to be dependent on China to supply us with everything? That is where we are heading.
Remember the golden rule, he who has the gold rules.
r./