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General Motors: A Failure Of China, Obama And Socialism

Failed bailouts from Obama and outsourcing policies set the stage for GM to screw the pooch

Once upon a time, President Barack Hussein Obama celebrated a job well done after he papered over General Motors with a massive bailout of taxpayer money.

“The American auto industry has come roaring back,” Obama said back in 2012, while patting himself on the back.

Years later, the long-term impact of Obama’s socialistic bailouts of private industry are now known. GM is back in the toilet, their green car ‘Chevy Volt’ no longer in existence, and the artificial prosperity of the central planners is all wiped away.

The corporation announced on Monday that they would be laying off a stunning 15 percent of its salaried workers. This includes 14,000 layoffs in North America with roughly 8,000 white-collar workers getting the ax while another 6,000 factory workers will be eliminated.

“The actions we are taking… continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future,” GM Chair and CEO Mary Barra said. “We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success.”

Trump is not buying that these changes are necessary. He is using the power of his bully pulpit to force GM’s hand so they bring the jobs back to the United States.

Although mainstream media commentators are blaming Trump’s tariffs on this decision, GM made their bed many years ago by choosing to outsource their operations to China following their massive taxpayer-funded bailout. Obama, in giving GM that cash, did nothing to make sure the corporation kept jobs in the US.

GM has shown that it learned nothing from almost going bankrupt nearly a decade ago. They kept up the same rapacious business practices, neglected their core American market, and are now struggling mightily as a result. Trump has threatened to yank away what’s left of their government benefits, and he would be wise to do so. The US should no longer be in the business of subsidizing failure!

Written by Saul Levine

Saul Levine is a contributor to The Schpiel.

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