• Jul 30th 2010 at 1:29PM
  • 133
You don't have to be a pollster to know that for the most part, the American public remains none too happy about the federal government handing over the people's hard-earned tax dollars to pull General Motors and Chrysler out of the fires of insolvency. Despite the fact that both companies have managed to keep their lights on, doors open and paychecks flowing due to their generous federal loans, Joe Plumber still can't stand the thought of paying the price of the two companies' failures. With midterm elections right around the corner, President Obama is in Detroit to attempt to sway that opinion.

The Commander-in-Chief will speak to crowds at Chrysler's Jefferson North plant about the positive side of loaning close to $85 billion to two of our country's largest automakers, including the fact that in 2010, the Big Three have re-hired a total of 55,000 of the 334,000 workers it sent packing a year prior. That may seem like a fraction of the total, but the President is certain to point out that without the loans, that job loss figure would have been much higher.

And then there's the matter of getting the federal government's money back. President Obama is also focusing on sharing his belief that a large majority of the country's money will be returned once GM and Chrysler go public once again.

Interested in keeping tabs on Obama's visit to Motown? The Detroit Free Press has a liveblog that you can follow along with (including live audio) by clicking here.

[Sources: Bloomberg, Detroit Free Press | Image: Jim Watson/AFP/Getty]

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    • 1 Second Ago
      • 5 Years Ago
      The only way the Car bailout worked is that Chrysler and GM took taxpayer dollars and invested it in China. Did you know that GM sold more Autos in China than in the U.S. Obama only helped the Unions and Auto Industry get rich while the rest of us get poorer.
      • 5 Years Ago
      I do not understand why people here are angry because two companies have made money from the state ... I mean, if they didn't, many employees would live under bridges, many of you would not be here talking about the new GC and Chevrolet Volt, you'd only be talking about ford [I am European and I know that Ford makes good cars here, and sells more than GM, its brand and (not intended as Opel) Chrysler], you have saved jobs , You have a choice between different car, given that Toyota is doing really bad ... You should think more broadly than the single dollar you throw in taxes, because I think it's the only money that you will see back, trusting the company, from war and bureaucracy i really hardly believe u will see something back.. (and know that I am European)
      • 5 Years Ago
      I do not care what race obama is, what i do care about is, that he does not care about this country or its people, he does not care about hard working people, only those who can put him back in the white house, i do hope people have learned from this last year and half and do not make the same mistake again , because it was a HUGE MISTAKE, WHAT DOES IT TAKE FOR AMERICA TO LEARN ? how big a brick has to fall on those heads, ... MAY GOD HAVE MERCY ON THIS COUNTRY.. AMEN
      • 5 Years Ago
      Funny..Barry has been pressuring the media to hound Toyota on everything to make them look bad so he can try to boost GM sales. It failed.
      God you people are stupid..glad Mazda got back their 30% shares so their engineers can stop designing the Ford platforms. The fiesta is designed by the Mazda engineers ..in turn the Mazda 2 platforms are used in the fiesta. Mazda 2 is the best seller over in Europe not the fiesta.

      I just bought a Lexus...and I am happy as hell!
      • 5 Years Ago
      First Repbulican grip about the Auto Industry bailout, then they grip about the double digit unemployment and then try to block unemployment benefit extension, now they defeat a bill that would aid the small business owners in America. July 29, 2010, on the Senate floor, the bill had 59 supporters and 41 opponents, which means it failed, and the entire effort is in jeopardy. Every Republican voted to kill the bill. On July 29, 2010, when the small-business package was ready to move, Republicans balked. In other words, Republicans have gone from complaining about the bill not coming up sooner to trying to drag out the process out. Seems to me that Republicans do not know what they want, or they simply want to do the opposite of Democrats instead of doing what is best for the country The good news is the bill isn't dead. . The bad news is, Republican senators are acting like spoiled children, in the hopes of eating up valuable pre-recess calendar time, making it impossible for the Senate to do anything else with its limited schedule. The energy bill is in trouble anyway, but by playing games with small businesses, making any progress on energy is looking even less likely.

      • 5 Years Ago
      Okay anyone that thinks that the money that was paid back into TARP is being returned to us is seriously not understanding how THIS govt is actually using the money they are getting back. Its more or less a large slush fund that has already been tapped for initiatives that it was never intended to be used for.

      You think the automaker bailout will really come back to the tax payers? I for one do not trust the govt will "return" this money to the people in ways that will benefit us...Couple that with the expiration of the Bush era tax breaks...we've been double tapped...

      Good `ol Potomac two step at work
      • 5 Years Ago
      This is an early stop on his 2012 campaign. This bailout was of his union cronies plain and simple. The bondholders, American people and rule of law all got screwed.
        • 5 Years Ago
        Exactly which law was broken? And in what ways is this a text book example of the goals and aims of corporate restructuring in bankruptcy?
      • 5 Years Ago
      Find out the name of the collection company, keep records of every call you get and record the time and the name of the person who called. Ideally, record the conversations and If they are not following the Fair Debt Collection Act, you can sue them for a whole lot of money as well as have the government impose huge fines on them for violations of the law. Good luck and happy recording!
      • 5 Years Ago
      all Obama is is talk talk talk.We are in worst shape than we where 2 years ago and all Obama does is pay the blame game and not listen to the American people..excuse me he listen to black radicals and communist and the terrorist but he don't listen to the american people if he did he would have support that bill and not sue az....
      I feel people who voted for him and still do have betray america really you have you sold america out and now we all pay
      • 5 Years Ago
      What about the AMERICAN people bailout,duh,what happened to the days when wall street workers were jumping out of buildings,due to losing things,now this ahole bails them out what about US,we probably paid for the little clinton wedding,or maybe monica did.
      • 5 Years Ago
      I was for the bailouts and I think it worked out pretty well. We kept a lot of people in their jobs at a time when we needed to keep people working. The Cash 4 Clunkers program also worked out well since it is what re-ignited the confidence of consumers. So both ended up working out well. They did cost quite a bit of money, but we're probably going to get most of it back from GM/Chrysler and even if we end up $10-12 billion short at least the government blew money on something that actually helped the country. Hell we spend that much a month to kill people in Iraq and that's not really benefiting us.
        • 5 Years Ago
        It is not going to work.
        • 5 Years Ago
        U must be kidding.

        You think C4C was good.

        That was one of the biggest flushing of taxpayer money down the toilet I've seen in a long time.
        • 5 Years Ago
        It was successful and kick started car sales. Sure it lost money, but at least it did some good. The US Government blows billions of dollars on stupid **** all the time. People were saying that after C4C ended then the market would slow back down. It went back down some, but it didn't go anywhere near the lows it was before C4C came about.
        • 5 Years Ago
        Now you're not even arguing a point. Yes, the government lost money on C4C and will lose money on the bailouts. However, the money was spent on a good purpose. It's not like they were blowing it on BS. The government spends over $600 BILLION on the military every year. Which is over $500 billion more than ANY other country. So them spending $12 billion or so to keep the economy from going in a tail spin and giving a kick to the car sales industry in the US(which supplies a lot of jobs) then that's money well spent.

        At least Ica
        • 5 Years Ago
        The point of the C4C was to stimulate the market and it did. I'm all for it and here's all the reports for it:



        Remember these are long term report unlike Edmund 2 months report after C4C. The links above are long term studies and fairly new, 2010, the doom and gloom for C4C article are 2009 ones.

        This is much better than the Trickle Down theory tax cut for the wealthy, which add $1 trillion a year to the deficit.

        No, I'm not rich, I just believe in Keynesian economics, rather than classical economic or the bull crap neo economic both of which doesn't account for human behavior (bubble burst etc..).
        • 5 Years Ago
        Wow Chad, so you admit you like it when the government TAKES your hard earned money and gives it to corrupt corporations like GM and watch as it is flushed down the toilet.

        You must have more money than you can spend and don't mind flushing your own money.

        Must be nice to be rich.
        • 5 Years Ago
        If I recall...

        Most of that money got flushed across the Pacific...

        Helpful wasn't it?
      • 5 Years Ago
      Who gives are rat's ass how much was loaned to the automakers! The federal government could grant them 10's or 100's of billions of dollars.
      How can we be a sovereign nation without the ability to manufacture actual things? We can not.

      Wallstreet has stolen TRILLIONS of dollars, and Obama is their puppet. (same as their previous puppet Cheney/Bush)

      I wonder if he has seen the Obama Deception.
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