General Motors is more dead than alive

By Rob Janicki
From The Patriot Update comes this little teaser of a caption:  Fact Check: Osama Bin Laden Alive, General Motors Dead".

No, Osama bin Laden is NOT actually alive in the sense of what we know to be a living human being, but General Motors may as well be dead since their corporate pulse is irregular and their breathing is shallow.  Okay, enough of the verbal dancing.  General Motors today, is as close to bankruptcy, as it was when government bailed it out while ignoring United States bankruptcy laws that would have put it on a better path to a sound financial recovery.

[...] Vice President Joe Biden has a suggested slogan for the Obama/Biden 2012 campaign. He repeats it everywhere he goes. “Osama Bin Laden is dead,” he bellows, “and General Motors is alive!”

There’s only one problem. He’s wrong.

Yes, Bin Laden’s dead, thank God. And General Motors is still an operating concern. But in point of fact, the cause for which Osama Bin Laden stood is stronger than at any time in American history, thanks in large part to the Obama administration. And as for GM, it’s not so much alive as it is a member of the corporate living dead, feasting on taxpayer brains while slowly deteriorating, the first zombie company created by Obama’s cronyism. [...]

GM still owes the American taxpayers somewhere in the range of $25-$30 billion dollars with little to no prospect of paying back that amount, or anything close to it, to taxpayers.  In addition GM was allowed to write off $45 billion dollars owed to various creditors.  This, in it self, deprived the United States government from collecting untold billions of dollars of tax revenues, had those creditors been given some part ownership ship of GM going forward, rather than giving the United Auto Workers union the majority ownership in GM.

Republicans need to remind Americans about this albatross that Obama has hung around their necks and for their future generations for all eternity.  The GM debacle is only one of the many similar disasters that happened, beginning with G.W. Bush and put on steroids by Obama.  By obviating the Chapter 11 process of reorganization under U.S. bankruptcy laws, Obama managed to saddle taxpayers with huge debt from Fannie Mae and Freddie Mac, to name the biggest financial boondoggles, that taxpayers have been strapped with going forward.

Save the Republic.  Defend Liberty and Freedom.  Vote on November 6.  Sweep out the socialists.