Monday, August 22, 2011

EDITORIAL: Obama: Stop selling pickup trucks

EDITORIAL: Obama: Stop selling pickup trucks:

President and Government Motors drive consumers into a ditch

The U.S. auto industry wouldn’t exist today if it weren’t for President Obama, or so he says. According to the White House, the 2009 $80 billion auto bailout - of which at least $14 billion was lost - not only saved the American auto sector but preserved 1 million jobs. If you believe that one, he has a $45,000 electric Chevy to sell you.

Earlier this month, at a Ford Motor Co. plant in Chicago, Mr. Obama even argued that Ford, which didn’t take a federal handout, had him to thank for its success. “If [Ford‘s] competitors had gone down, they would have taken down a whole bunch of the suppliers you depend on,” he said. “The brand of American autos would have diminished. That would have had severe consequences for Ford, and that’s the challenge we faced when I took office.” This is an audacious claim. It’s also baloney. Had its competitors vanished, Ford’s greatest challenge would have been to see how quickly it could ramp up production to snap up their market share.........


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