Barack Obama was in Toledo, Ohio today, touting the ′success′ of the Chrysler bailout. He claims that it was his administration that was responsible for saving the automobile industry. Obama also told the gathered crowd at the Chrysler plant that ″every dime″ of the taxpayers money has been repaid. Well, that just simply is not true. Here is what Barack Obama considers a success. The Federal government giving a private sector company $35 Billion dollars to buy a partial stake to a business worth at most $4.8 Billion dollars. All but $1.3 Billion dollars of direct loans were paid back, but the overall loss to the taxpayers, due to the low stock price amounts to a John Q. Public paying $6.4 Billion dollars. Mainly for no other reason than to save some 30,000 union jobs. The numbers for the General Motors bailout are even worse.

barack obama chrysler

Yes, Anti-President Barack Obama understands economics. The Community Organizer in Chief spent some $213,000 dollars for each union job ‘saved’. Only after spending nearly $1.166 Million dollars to save each job. This is how Obama plans to save the American economy. The actual cost including interest of all the cash borrowed will probably wind up increasing this set of numbers even higher. But that does not matter to Obama, who only did what he did to ensure 30,000 votes in 2012 which he probably would have gotten any way for nothing.

If this does not disturb you enough, Pirates Cove has a fun article about how cats cause global warming. Or how about Sister Toldjah who did a piece today about the slimeball John Edwards? If mass graves in Yemen are more your style, The Jawa Report provides the latest info. Gun violence in Minnesota is the topic of the day at Mikeb302000.

More on the dismal jobs report today at Power Line. Over at NetRightDaily there is concern that the longer it takes for the GOP to get a debt ceiling deal done, the more ‘free money’ Obama is spending without Congressional approval. The question of just how conservative Mitt Romney is is explored at New Zeal. And finally, our good friends at the The Lonely Conservative take a close look at Obama′s new Commerce Secretary, John Bryson. What a piece of work he is!

So is it any wonder why the economy is tanking and heading into a double-dip recession? Anti-President Barack Obama actually thinks that investing $35 Billion dollars into a company worth only $4.8 Billion, and ultimately costing taxpayers some $6.4 Billion dollars or more, is a success. That is how Obama justifies the bailout of Chrysler today while in Toledo, Ohio. He claims that he saved the automobile industry. All he really saved was the United Auto Workers union.