Socialist Obama & Democrats Stimulus At Work

The Socialist Obama and the Democrats stimulus package so far is working very well. Each week an additional 600,000 people lose their jobs. GM has just announced 21,000 more job cuts and will close the Pontiac Division. This stimulus package had no stimulus in it. What it contained was all pork that the Socialist Democrats wanted.

GM is living on $15.4 billion in government loans and said Monday in a filing with the U.S. Securities and Exchange Commission that it envisions receiving an additional $11.6 billion. But if GM's restructuring plan can't satisfy the government by June 1, the struggling company could go into bankruptcy protection.

GM is going to ask the government to take more than 50% of its common stock in exchange for canceling half the government loans to the company as of June 1. This would cancel about $10 billion in government debt. GM is also offering stock to the United Auto Workers for at least 50% of the $20 billion the company must pay union trust that will take over retiree health-care expenses starting next year.

If this goes through the federal government will own 50% of GM and UAW health care trust would own about 39% of GM stock. When did the federal government start nationalizing businesses and owning the largest portion of them?

The Socialist Democrats caused the present economic crisis with their manipulation and involvement forcing banks and lending institutions to loan to those who could not afford those loans. That in turn has helped cause the current auto crisis. Part of the auto crisis is also the socialist Democrats rules and regulations on vehicles. To meet government fuel standards and to provide cars that Americans wanted to buy the auto makers have had to sell small cars at a loss.

America we need the federal government and the Socialist Democrats to stay out of the way of big business and lending institutions, not doing more damage to them than they already have. The Socialist Obama and Democrats stimulus package is a failure. We need to voice our opinion for them to stay out of business and cause them to be a failure also.

America don’t let the socialist behavior of President Barack Hussein Obama and the socialist Democrats destroy America.   Join with SpeakNowAmerica.org today! We are ready to defend our rights and tell the truth the socialist main stream media won’t tell you. Join us America to protect your rights, your country, and your money. Comment here and email us at YourVoice@speaknowamerica.org. Help us and be part of bringing our Great country back.

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