Friday, April 24, 2009

The taxpayer-funded UAW subsidy and relief program

Treasury lends $2 billion more to General Motors
13 GM Factories Facing Temporary Shutdowns WASHINGTON – Taxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court. ****Why avoid bankruptcy court? Because the UAW sweetheart deals would be abrogated and Obama owes the UAW bigtime. GM is furloughing plants for nine weeks BUT UAW workers still get 95% of their pay FOR DOING NOTHING. ****
The Treasury Department said Friday it lent the additional money to GM on Wednesday to provide working capital. The loan pushes the total amount of GM's government aid to $15.4 billion after the company said it would need more money in the second quarter to stay afloat. ****GM shuts plants but saves no money on labor. This isn't a bailout of GM; it's a direct subsidy to UAW workers with GM merely serving as an intermediary. When does the outrage start? How blatant can the Obama Administration get?****

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