Discussion:
The [Obama pay-to-play...] government lost billions more bailing out GM than the $5.7 billion request for wall funding
(too old to reply)
Leroy N. Soetoro
2018-12-24 18:26:56 UTC
Permalink
https://dailycaller.com/2018/12/23/border-wall-compare-spending/

Senate Democrats have shown their willingness to shut down the government
in lieu of spending nearly $6 billion on a border wall, but compare that
price tag to some of the other expenditures the government funds.

House Republicans passed a stopgap funding bill on Thursday that included
$5.7 billion to build a wall along the U.S.-Mexico border. However, Senate
Minority Leader Chuck Schumer vowed to kill any funding measure
appropriating for a wall’s construction.

Schumer has referred to the wall as “expensive and ineffective,” but just
how expensive is it relative to recent expenditures?

The Environmental and Protection Agency (EPA) was appropriated a $5.7
billion budget in 2018, down from the roughly $8 billion annual budget it
has received since the mid-1990s. Inline with the agency’s mission
statement, nearly 90 percent of the budget is used to provide grants
safeguarding clear air, land and water, according to National Geographic.

A Government Accountability Office report uncovered that while the EPA’s
budget has been remaining relatively stable, the amount of employees on
the public relations staff has been spiking. In less than a decade, the
agency increased its public relations staff by 16 percent with more than
140 employees dedicated to pushing the EPA’s message.

In 2017, the federal government spent more than twice as much on farms as
the requested border wall funding. During the fiscal year, U.S. farms
received $13.2 billion in subsidies, according to transparency group Open
The Books. Nearly 15 percent of those subsidies went to farmers in
exchange for not using their land. (RELATED: Chuck Schumer Makes It
‘Crystal Clear’ He Wants No Additional Funding For Border Wall)

The government also footed the bill for nearly half of the country’s most
expensive infrastructure project, which was concentrated in one city
alone. After the ‘Big Dig’, a megaproject that rerouted Boston’s primary
thoroughfare, was plagued by financial mismanagement and design flaws, the
Federal Highway Administration stepped in and provided what amounted to
about $7 billion in grants, reported The Boston Globe.

The project was completed in 2010 with a total ticket price of $15
billion.

And while the federal government has spent billions of dollars on one
city’s project, it has also spent billions of dollars on individual
companies.

According to a 2014 Special Inspector General report, American taxpayers
took an $11.2 billion loss on its bailout of General Motors (GM). After
the automaker declared bankruptcy in 2009, the government invested $49.5
billion in the company with a 61 percent equity share. Overtime, GM’s
stock price dropped, and despite selling back shares, the U.S. government
took billion dollar losses.

While a 2017 internal report from the Department of Homeland Security
(DHS) forecasts that a wall would ultimately cost approximately $21.6
billion to complete, the Federation For American Immigration Reform (FAIR)
estimates that the fiscal burden of illegal immigration on the American
taxpayers is approximately $115.8 billion annually.

“We would save Billions of Dollars if the Democrats would give us the
votes to build the Wall,” Trump tweeted in early December. “Either way,
people will NOT be allowed into our Country illegally! We will close the
entire Southern Border if necessary. Also, STOP THE DRUGS!”

The Senate is scheduled to reconvene on Dec. 27 to resume appropriations
discussions.
--
Donald J. Trump, 304 electoral votes to 227, defeated compulsive liar in
denial Hillary Rodham Clinton on December 19th, 2016. The clown car
parade of the democrat party ran out of gas and got run over by a Trump
truck.

Congratulations President Trump. Thank you for cleaning up the disaster
of the Obama presidency.

Under Barack Obama's leadership, the United States of America became the
The World According To Garp.

ObamaCare is a total 100% failure and no lie that can be put forth by its
supporters can dispute that.

Obama jobs, the result of ObamaCare. 12-15 working hours a week at minimum
wage, no benefits and the primary revenue stream for ObamaCare. It can't
be funded with money people don't have, yet liberals lie about how great
it is.

Obama increased total debt from $10 trillion to $20 trillion in the eight
years he was in office, and sold out heterosexuals for Hollywood queer
liberal democrat donors.
Miloch
2018-12-24 19:00:10 UTC
Permalink
Post by Leroy N. Soetoro
https://dailycaller.com/2018/12/23/border-wall-compare-spending/
Senate Democrats have shown their willingness to shut down the government
in lieu of spending nearly $6 billion on a border wall, but compare that
price tag to some of the other expenditures the government funds.
GM Bailout Saved Millions of Jobs and Republicans Hate it

more at
https://www.alternet.org/newsandviews/article/340648/gm_bailout_saved_millions_of_jobs_and_republicans_hate_it/

... is alive and well, thanks to the Democrats and President Obama. What
industry, you ask? The American automobile industry:

Seventeen months after veering into bankruptcy, General Motors has become the
unlikely darling of Wall Street, poised to complete an initial public offering
Thursday that will fetch more than $20 billion and rank as one of the largest in
history. [...]
The federal government seized the opportunity to recoup part of the bailout
money it injected into the company in the spring of 2009. The Treasury agreed to
sell at least $11.8 billion worth of stock, lowering its 61 percent stake in
what has been disparagingly dubbed "Government Motors" to just under 37 percent,
a senior administration official said. If underwriters take their over
allotments, the Treasury will earn $13.6 billion and its stake will shrink to
33.3 percent. [...]

The administration noted Wednesday that the U.S. auto industry has added 77,300
jobs since GM and Chrysler emerged from bankruptcy, that vehicle exports are up
more than 40 percent from 2009, and that the nation's Big Three car companies
posted operating profits for the first three quarters of this year.

"Certainly this is a very attractive valuation compared to what most of us
expected a year and a half ago," Rattner said. "When the dust settles, Treasury
will be modestly out of pocket on GM, but in terms of the disaster averted, I
think it was a very cheap form of stimulus. It helped the economy when the
economy appeared to be in total free fall."

The investment in GM likely saved millions of jobs directly and indirectly, that
would have been lost if the US government had allowed GM to die:

Should one or more of the Detroit Three fail in 2009, initially all U.S.
automotive operations would be affected, including international producers and
suppliers. In this scenario, the remaining Detroit Three and international
producers recover in 2010. The first year total employment impact would be a
loss of nearly 2.5 million jobs in the U.S. economy—comprised of 239,341 jobs at
the Detroit Three, 795,371 indirect/supplier jobs and over 1.4 million spin-off
(expenditure-induced) jobs.

A former adviser to the President and a member of Obama's auto task force,
Republican Harry Wilson, claims that saving GM and Chrysler may have averted a
liquidation of Ford:

Amid the depth of fear and despair of early 2009, "there was no private capital
available," Mr. Wilson says.
If General Motors had failed, its suppliers would have failed, and the failure
of the suppliers could have taken Ford down, too, he says.

Yet, at the time Obama was planning and then implementing a government funded
rescue of GM (that we now know has succeeded beyond all expectations), major
Republican politicians and prominent conservatives were adamantly opposed to the
deal which saved General Motors. Let me remind you the nasty things Republicans
were saying about the rescue of GM over the the last two years ago:

more at
https://www.alternet.org/newsandviews/article/340648/gm_bailout_saved_millions_of_jobs_and_republicans_hate_it/



*

Loading...