President Obama’s phony accounting on the auto industry bailout

Excerpt:

With some of the economic indicators looking a bit dicey, President Obama
traveled to Ohio last week to tout what the administration considers a
good-news story: the rescue of the domestic automobile industry. In fact, he
also made it the subject of his weekly radio address.

We take no view on whether the administration’s efforts on behalf of the
automobile industry were a good or bad thing; that’s a matter for the
editorial pages and eventually the historians. But we are interested in the
facts the president cited to make his case.

*What we found is one of the most misleading collections of assertions we
have seen in a short presidential speech. Virtually every claim by the
president regarding the auto industry needs an asterisk, just like the fine
print in that too-good-to-be-true car loan.*

Read more here:
http://www.washingtonpost.com/blogs/fact-checker/post/president-obamas-phony-accounting-on-the-auto-industry-bailout/2011/06/06/AG3nefKH_blog.html


The Washington Post?

Not the Washington Times.  Not the Washington Examiner.  The Washington
Post.  Wow.

J

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Obama is a black mascot of Wall Street oligarchs and a black puppet of
corporate plutocrats. And now he has become head of the American killing
machine and is proud of it. - Cornel West

What never fails inside the mind of an intellectual never works outside the
confines of his head. The world’s stubborn refusal to vindicate the
intellectual’s theories serves as proof of humanity’s irrationality, not his
own. Thus, the true believer retrenches rather than rethinks; he launches a
war on the world, denying reality because it fails to conform to his
theories. If intellectuals are not prepared to reconcile theory and
practice, then why do they bother to venture outside the ivory tower or the
coffeehouse? Why not stay in the world of abstractions and fantasy? - Daniel
J F

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