Auto Bailout Was Really Just a UAW Bailout

June 13, 2012

Politics/National Debt

From Morning Bell at the Heritage Foundation: American taxpayers will lose about $23 billion dollars, that went directly into the pockets of the UAW.  If we had allowed GM to go through normal bankruptcy procedures, we would have broken even.  More than $26 billion went out the door and into the UAW’s pockets.

This was bigger than the “entire budget of the State Department. It was bigger than all U. S. foreign aid spending. It was 50% more than NASA’s budget.”

Why has Congress allowed this flagrant abuse of taxpayer money? Bankruptcy law has been transgressed, lien holder positions usurped, and government coffers have been pilfered. And they wonder why the Tea Party is angry!

, ,

About laura997

Ordinary citizen concerned with the direction our country is headed.

View all posts by laura997


Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: