Obama claims "GM is back"
Obama claimed today that "GM is back." Well, here is how GM's stock price has changed since the IPO in late 2010.
The Hill newspaper has more on pushing the GM bailout yet again:
President Obama touted his administration's bailout of the U.S. auto industry as American car companies are beginning to sell their 2013 model year vehicles.
"Every year around this time, American car companies start rolling out their newest, shiniest models, hoping to entice you into buying one," Obama said in his weekly address. "And this year is no exception. They’ve got some pretty good-looking cars coming out.
"But something is different this time around – and it starts with the auto companies themselves," the president continued. "Just a few years ago, the auto industry wasn’t just struggling – it was flatlining. GM and Chrysler were on the verge of collapse. Suppliers and distributors were at risk of going under. More than a million jobs across the country were on the line – and not just auto jobs, but the jobs of teachers, small business owners, and everyone in communities that depend on this great American industry."
Obama has often used the auto bailout to counter Republican claims that his policies are harming the U.S. economy. . . . .