I did not catch the 40 BILLION in tax breaks in your model.You wouldn't be "Lying" would you?If P then Q, the market will catch up with you.Your parents deserve a refund from Yale.You misrepresent the critics points.At what cost ($/job saved)?You left out the bond holders you screwed, further weakening confidence in our financial system.Confiscating dealerships was absent.Obama could not do more to destroy the system if he had planned it. His perverted world view came from his commie mentors.
How many advisors has Obama gone through in the past 2 1/2 years? Obama is done. Double dip recession coming soon!!! None of his economic advisors have never owned or ran a businees. They have no idea what they are doing. Say hello to government cheese, long unemployment lines, more food stamps and welfare. The middle class is done. China dumped 97% of US government t-bills this week. They know Obama is a joke.
It's unfortunate that a lot of people here are still uninformed, despite the fact they were bailed out, they're STILL borrowing money from the government, AKA: you basically put them on life support and they're not getting better. It would probably have been better to allow them to be liquidated so other car manufacturers and such could expand and take in more employees. GG government, you saved a dying race horse, but its still not running any races.
Yeah right. People are just stepping on each other to go buy GM's crappy ass cars? Does anyone really believe that? This video is ministry of truth bull**** and Goolsbee is a shill who will say whatever it takes and play loose with the facts to get you to believe it.
I have a video response to this video but that feature is disabled so please check out noagendashots # 40 for my video response if they allow this comment
A news poll on TV just out, said that a majority of voters regretted voting republican. Their reason they gave for doing so, was because the economy wasnt growing fast enough, and unemployment was still so high! That reminds me of the guy who committed suicide because the doctor wasnt making him get well fast enough!! Wake up America, the republican party will not do anything to help you!! REPUBLICANS LOOK OUT FOR THE WEALTHY! DEMOCRATS LOOK OUT FOR THE POOR AND MIDDLE CLASS!!!!
change you can believe in, cuz you can actually see it. this is just one example of how a fundamental change in operation can make such a huge difference going forward.
@TheKaos007 I suggest you look up the word "grammar" as it is missing from your post. This, in fact, is a change from the operation of GM before restructuring, and it has resulted in both record profits and a record setting IPO. Do you not want GM and the rest of America's auto and manufacturing industries to succeed?
We know what the GM bailout, Chrysler bailout was. It's to give the unions ownership to protect their health care benefits the true investors (US) in Chrysler, for example, got hosed. And Obama told 'em they were being childish. certain people (US) are not gonna be allowed to get into the IPO, and the IPO share is false and inflated It's an insider game
GM needed to have several very positive quarters of growth before they would offer IPO to the public and they have not...WE ARE NOT STUPID
Are you really happy that the government took an investing gamble with our tax money? They shouldn't be throwing our money around in the first place! Give it back to us!
@universalmusac NO!! If anything, our taxes should go up! President Obama and Congress has so much more to do, lot of legislation needs to go through in order to complete their tasks! More money will be needed for education, building high speed rail service, green energy, communication, airline navigation overhaul, helping the poor!! Lots more government programs need to be implemented which will cost billions!! I say let the bush tax cuts expire, and implent a VAT like Europe has!!
@TomThumbsFables Tom, what's stopping you from supporting those worthwhile causes with your own money? Why get the government involved at all? What happens when they start supporting things you disagree with? If we all had more of our money and the government closed many of their programs, we could support the programs we wanted and fire the organizations that performed poorly. You can't fire the government, even with a change in leadership.
@universalmusac Well, so far, everything that Obama and democrats have done are positive things which is for the overall good of everyone! Even if I sortof wonder about whether they are doing the right thing, President Obama always explains how the bill that he signed is good for America! He never seems doubtful, and is sure about what he is doing, so I trust him to do whatever is best for the nation! Simple as that!
The way corporations were most immediately impacted in 2008 was that banks stopped lending. That's a crisis. They called it a 'liquidity crisis' because companies are constantly taking out small short-term loans as part of the normal operation of their business.
The whole point of lending to the banks was to allow the banks to lend TO the private sector.
To end the liquidity crisis and allow capitalism to work.
@ReliableInsider I don't know if I buy the, since bad stuff didn't happen, all the actions we took must have been worth it approach. There is no way to know what would have happened, only speculation and justification after the fact. Small businesses still have a hard time getting credit, a lot of good it did for us.
@TomThumbsFables i love it with you liberals always want peoples money to do things.Why don't you write a big fat check and send it to the gov instead of forcing people to do it..Obama ain't doing nothing more for the next 2 years the adults are back in charge,the people of America have had enough of his socialism..
@maxium4x4 Wow I wish the government would bail my small business out if we took on a bunch of debt we couldn't afford and made crappy products. Their competitors would have likely swooped in to buy them at a discount and/or taken over their market share and expanded their plants. So now instead of Ford and Toyota plants we have GM. And the government owns it....
@mihiryouthere612 You pay debt with earned money where I went to school. GM seems to be using TARP funds from an escrow account at Treasury to make the debt repayments. The quarterly report from the Office of the Special Inspector General for TARP says “The source of funds for these quarterly [debt] payments will be other TARP funds currently held in an escrow account.” See, Office of the Special Inspector General for TARP, Quarterly Report to Congress dated April 20, 2010, page 115.
@maxium4x4 GM has been operating at a profit, so it can slowly ween itself off the need for those TARP funds. its been almost three quarters since April, i suggest you read up how GM has been doing fiscally.
CHINA MUST PAY USA A HUGE FINE FOR VIOLATING COPYRIGHT RULES! MY KIDS WILL GROW UP AND HAVE CANCER COS CHINA POLUTES OUR PLANET WITH THEIR $ 1 DOLAR CRAP.USA OPEN WIDE EYES TO CHINA ON HOW TO OPEN FACTORIES AND CHINESE STOLE ALL AMERICAN IDEAS, CHINA OWES USA HUGE FINE! CHINESE DRIVE MERCEDES AND AMERICAN PEOPLE DRIVE HONDA, DREAM ON COMMUNIST FUCKERS WE OPEND UR EYES, WE CAN CLOSE THEM WHENEVER WE WANT!
Is Mr. Goolsbee aware that the money given to the GM in the bailout was about that much?!?! 49.5 billion to be exact... so actually with his logic, without government intervention GM would have still had a profitable year, and the tax payers wouldn't be in the business of owning private coorperations in the first place!
Back in the 1980s, GM had the opportunity to make better cars than the Japanese auto makers. They could've made more fuel-efficient cars. But they decided not to. They didn't want to EVOLVE. So, like the dinsaurs, they slowly became extinct. This company should've died in 2008. The executives of GM are living in the stone age. If they were smart, they would've made better cars that were attractive to Americans. Most Americans put GM out of business! Why tax them to bail out GM?!! It's stupid.
Oh oh, evidence pictures just released show the twin towers exploding from the inside, according to RTN news, showing that 9/11 was a inside job. The question is now why?
I risky proposition.. what happened to shareholders when they went belly up? Did they get their money? Now they want people to invest again. Have they paid back that 49 billion? I think Soetoro said they have. Do we have any proof? If they did are we the taxpayer seeing the benefits of this pay back? Something fishy here ..
@Josephdaz1 Did the shareholders get what money? When GM went bankrupt, its stock was worth approximately zero dollars. A lot of people blame GM's executives for its failure, but the shareholders are allowed to fire those executives.
As for paying back the money, the government's aqusition of GM qualifies as GM paying the government back in stock rather than dollars. Now the government is selling that stock to the highest bidder.
CHINA MUST PAY USA A HUGE FINE FOR VIOLATING COPYRIGHT RULES! MY KIDS WILL GROW UP AND HAVE CANCER COS CHINA POLUTES OUR PLANET WITH THEIR $ 1 DOLAR CRAP.USA OPEN WIDE EYES TO CHINA ON HOW TO OPEN FACTORIES AND CHINESE STOLE ALL AMERICAN IDEAS, CHINA OWES USA HUGE FINE! CHINESE DRIVE MERCEDES AND AMERICAN PEOPLE DRIVE HONDA, DREAM ON COMMUNIST FUCKERS WE OPEND UR EYES, WE CAN CLOSE THEM WHENEVER WE WANT!
GM should incorporate a flash drive to the fuse box under the hood in concert with the diagnostics. Owners can remove it, plug into a PC or Apple, bring codes, all diagnostic information, & history.
A great selling point now that GM is on the market & we could also take the flash drive into a dealership without taking the entire vehicle in.
Communicate with the dealership, GM online so customers can make an informed decision before going to a dealership. I was ASE Certified, I can't w
@MishuTaste Not exactly the message.... but if that's what you heard, you might wanna get your hearing checked. Take a look at the recent changes at GM's stock and tell me they haven't turned their company around. Don't take my word for it or the word of Austan Goolsbee. Do a bit of research about the company. It's becoming quite profitable.
@aaronmcnello I know it's a profitable company. But they were granted FREE MONEY from the taxpayers instead of earning the money to develop their product. Collectively, we had to sacrifice our money for them to be a success.
@MishuTaste And now they are paying it back. OH NO!!! WE SAVED A BUNCH OF PEOPLE FROM LOSING THEIR JOBS WHICH WOULD HAVE MADE US GO INTO A DEEPER RECESSION! Shame on america for loaning money to their neighbors. -_-
@aaronmcnello What I have a problem with is this: Congress decided which corporations should succeed instead of free market competition. I don't want the U.S. federal government to show favoritism to corporations. The executives of GM decided NOT to compete with the Japanese auto makers. The majority of Americans decided that they liked the Japanese cars more. The free market decided to put GM out of business. It sucks, but that's the reality of the situation.
@aaronmcnello If GM was so profitable can you tell me why the Government sold such a big stake of their shares for a loss of around 10-11 dollars per share?
Why should the Executive Branch care about the performance of a single corporation? GM is responsible for its own problems! GM should've been competitive w/ the Japanese auto industry 20 years ago! American companies, take notice: If you can't give your customers what they want, you're going to lose!
If a consumer does not know anything about cars, it is ok. In the las 60 years the industry has put a lot of money for the political whels. But the quality is not there. The DA's in every state act like the police for the industry. GM and its dealers are not honest. The same applys to ATT and Verizon. They are dishonest.
I'm just worried that they aren't going to be selling alot of those Chevy Volts, not alot of people out there will have the money to spend on them, and the banks are still reluctant to start lending again.
I still feel we are in this liquidity trap, and I believe that our trade deficit with China has something to do with it.
@boss1001 Only because we are flooded with imports from countries who violently repress them. When unions are everywhere it's actually a really good thing. Post WW2, when we were basically the only industrial country still standing, unions built the middle class.
The govt invested in GM with a price per share cost average of $43.84. Now the government just sold off over half their stake in the company for a loss of $10.84 per share!!! now if this was such a great company, such an engine of growth why sell for a loss?!?!?!
You may not agree with the President on many topics, but GM being alive, growing, and building cars that people want (and making them in the United States) is good for the US. My next car will be a Chevy Volt.
This comment has received too many negative votesshow
I LIKE THAT THIS GUY USES FORD AS AN EXAMPLE FORD DIDNT NEED ANY HELP BECAUSE THE FREE MARKET DECIDES WHO WINS AND FAILS NOT THE GOVERNMENT EXECPT IN A SOCIALIST COUNTRY FORD DID THERE HOME WORK AND KNEW WHAT PEOPLE WANTED TO BUY. GM SHOULD HAVE FAILED AND THERE NOT PAYING BACK THE AMERICAN TAX PAYERS WERE NEVER GONNA GET A CHECK IN THE MAIL OR A SHARE OF STOCK THE ONLY PEOPLE THAT WILL GET MONEY IS THE PEOPLE THAT HAD GM STOCK AND WAS TOLD TO HOLD ON TO IT AND THEY WOULDN'T LOSE ANY MONEY.
This comment has received too many negative votesshow
THIS DORK IS FULL OF SHIT GM SHOULD HAVE FAILED AND NOW THAT THE AMERICAN PEOPLES TAX MONEY PAID TO BAIL THEM OUT AND NOW THEY STILL SUCK NO ONE WILL STILL BUY THERE AMERICAN CARS SUCK
@jettaknightvr6 Are they profitable? They seem to be. It's in our national interest to have certain industries, and we will use policy to attempt to serve our national interest. That's one of the things governments do.
@pgunn01 yeah anything thats in our national interest is suppose to be good just like the tsa strip seaching a 5yo at the airport because noone under 15 has ever highjack an airplane but it in the name of safty right.
GM(government motor(eletric)) Today GM choice of material is aluminum, plastic and lead with sulfur acid. Government motor is harm to the environment. Fluorite is a waste product when aluminum is produce.Plastic is dumb in the ocean(recycle). Lead will leave you brain dead and contain some form of mercury, and the sulfur acid from the battery will contribute to acid rain.All these HARM to the environment will bring enforcement on some form of carbon tax.
Plus you will suffer from electromagnetic wave produce by high voltage coil with magnetic wave just like the TSA X-rays body scanning machine.See you roasting in the rain, please tell us you have some wealth to spread.cause we know a compac electric car will cost $100,000 with GM insurance,financing and salvage(recycle dump program business
Instead of investing in transit, we're blindly purusing the same strategy that has us falling behind in terms of our global competitiveness while at the same time continuing our exposure to national security risks associated with dependence on foreign oil largely provided from areas of the world that don't particularly care for us?
@racole001 And you wanted this total restructuring on our economic base a couple of months after he won his election and with a negative growth for the 3 first quarters? Wow, that's fast...really excellent thinking
Transit: The real job engine. We need to invest in new and/or improved transit in heavily congested urban corridors while at the same time pricing *all* existing highway capacity (and not expand any of it). Use the revenue to fund both highway and transit ops/maintenance, significantly reduce congestion, provide a huge boost to economic activity, improve the flow of commerce by getting commuters off the road during peak use periods, and manage to help the environment in the process; a win-win.
@racole001 Thank you for this. Ultimately, it comes to this: transit price has to reflect its real cost. Anything else is a market distortion. Bundling road & freeway costs into the tax base means that drivers don't bear that cost. When we pay for buses or trains out of the general tax base, we hear the hue and cry: "They're not profitable! Waste!"
Solution: Tax cars and trucks based on mileage and fuel use, and balance that tax to pay for all maintenance and expansion of roads.
EmpathyWorks Better go back and read - seaplaneguy1 - post. It explains obama magical liberal math and how this video is just another day of odumbo drones "Lying-By-Omission"
@memama2 I wish I had your life. Because then I wouldnt have to research or do ANY math at all, and I could just point my racist finger at Obama and blindly blame him for everything.
I wish I could do that. But I cant, because I think Id kill myself if I tried to perfect your talent for being a worthless piece of trash.
@bsharker Nov 02? You mean the House defeat of the democrats, but also the night crazy wack-a-doodle tea party nonsense was defeated in the senate.
Also, funny you think it's socialist ideas that were defeated, since the people who've the GOP had already declared they won't be cutting defence spending, social security spending or medicare spending (which amounts to more the 63% of the budget) all 3 are pretty socialist ideas and yet you won't find many willing to live without them.
The reason the Republicans in Washington have been fighting Obama tooth and nail is that the banking industry and the health insurance industry and the oil industry and corrupt private military contractors have been PAYING them to.
Republican Members of Congress are scared that Obama's going to fix the economy too quickly and they're ALL going to be out of a job.
They filibustered everything. America should have punished them for that in the voting booth.
White House White Board: The Rebirth of the American Auto Industry
November 19, 2010 --In the fourth edition of White House White Board, Austan Goolsbee, Chairman of the Council of Economic Advisers, discusses the President's tough decisions on the American auto industry in light of the General Motors IPO.
No matter how high the bar is, Republican's will trash Obama's success. It's plain and simple. Obama is black, so they want "to take [their] country back!"
I owned a Chevy Cavalier; It was a GREAT little car with ZERO defects. It had 94,000 on it, when I got rid of it; the old man in Georgia who bought it LOVES the car... God BLESS America...
Gm did NOT turn a profit. When you get you money for free you are not having real costs. 50 billion at 5% is 2.5 billion. Add that in as a cost and they have NOT made a profit. Reality is nobody would loan to them because the bond holders were shafted.
If I had $50billion, you would be driving a car that got 500 mpg city and 250 highway...at night and twice that during the day depending on duty cycle. GM management has no idea what is coming.... Wake up White house...
seaplaneguy1 ...best post on YouTube this week! Keep coming back and posting when you see AustieSpumantieGoolsbee magical liberal math videos. It helps the obots see that someone can do factual actual MATH. And those numbers are hella bad worse than obama claims
@memama2 Look...get an engine that gets 60% vs 13% for a GM engine on average. .60/.13=4.6 or 460% improvement. A GE combined cycle gets 60%, and freighter diesels get 58%...very doable. 1/4.6=.79 or 79%. That leaves 21%. Add in a solar cycle and power from your house and you get...90%. My house, two car, electrical house power...90%.
B. Gates put up 23.5 million for an engine that will do 15% better. Reality is 90% is possible. No gov official has a clue...
There is technology in works that will get 90% of the current fuel loads out of the average person's life. GM will NOT survive...sorry...or at least all the leadership will have to be replaced and all the union thugs removed.... With this technology, GM shares would be worth $400+/share, not $34. Volt car is a joke.
I CANT BELIEVE THIS, BUSH IS PROMOTING HIS BOOK, WHILE AMERICAN PEOPLE SUFFER AT THE AIRPORTS SECURITY, BEING X-RAYED, REMOVING THEIR BOOTS, SOON WE WILL BETO REMOVING UNDERWEARS AND BUSH WILL BE SIGNING MORE BOOKS! WTF IS HAPPENING TO US? DRUNK PRESIDENT KILLED 3000 AMERICAN PEOPLE AND DESTROYED TWIN TOWERS AND WE BUY HIS BOOK? ARE WE DRINKING TO MUCH CAFFEINE? MAY BE WE GET TOO MUCH RADIATION FROM CELLPHONES? WAKE UP AMERICA, 3000 AMERICAN PEOPLE WHO DIED IN 9/11, REST IN PEACE!
@Rigorvitus Thumbs down. Ron Paul would bring great harm to the nation. He doesn't understand how important our laws and institutions are, and just wants to unplug everything and tear it apart. You wouldn't let someone like that service your car - why should you let them tinker with government?
I'd sooner reelect BushJr or James Buchanan than elect Ron Paul.
@Tydomes We're at 9.6%, which is where we were at just 6 months into Obama's presidency, before his economic policies had a chance to take hold. We need 100,000 new jobs every month just to keep up with population growth. It's estimated the stimulus saved 3 million jobs, and has been creating private sector jobs for 10 straight months now. It's not fast enough, but if Republicans had had their way, we'd be in far worse shape today but the rich would still be getting their handouts.
@Tydomes Job losses and gains in the public sector don't figure in all that much, but if you're talking about the jobs lost after the census, that was expected.
And, if Republicans hadn't gotten their way on the stimulus, more public sector jobs would've been saved.
@demmmmm1 what i was referring to is if there is an average of 70,000 jobs gained in the private sector each month....how the hell are we still at 9.6% unemployment.
@Tydomes The jobs numbers are positive, but they don't match the natural increase of young people reaching working age plus the jobs lost to the austerity measures most states are employing. The rate *has* to increase. At this rate your economy is still atrophying.
Tydomes We are up to 14 - 19 percent unemployment in many areas if you count all the kids who cannot even find any work part time or full time. And the adults who have dropped off unemployment rolls and live off family or spouse who still work. The entire thing is going to go *boink* when the obama union pensioners start retiring and the BILL$ COME DUE! Add on the exemption they all got to keep their premo health care WE THE PEOPLE (who are not on government pensions) HAVE TO PAY FOR it sucks
Obama knows what he's doing, you just have to trust.
2012ForObama 2 months ago
I did not catch the 40 BILLION in tax breaks in your model.You wouldn't be "Lying" would you?If P then Q, the market will catch up with you.Your parents deserve a refund from Yale.You misrepresent the critics points.At what cost ($/job saved)?You left out the bond holders you screwed, further weakening confidence in our financial system.Confiscating dealerships was absent.Obama could not do more to destroy the system if he had planned it. His perverted world view came from his commie mentors.
idesofmarchUNIAEA 4 months ago
I want Obama for president in Spain...!
Emmets 8 months ago
America was based on this ideal and it always works
bushiman32 8 months ago
How many advisors has Obama gone through in the past 2 1/2 years? Obama is done. Double dip recession coming soon!!! None of his economic advisors have never owned or ran a businees. They have no idea what they are doing. Say hello to government cheese, long unemployment lines, more food stamps and welfare. The middle class is done. China dumped 97% of US government t-bills this week. They know Obama is a joke.
09geauxtigers 8 months ago
Jesus is future king of earth, repent for his judgement comes. Jesus loves you
bass109 1 year ago
It's unfortunate that a lot of people here are still uninformed, despite the fact they were bailed out, they're STILL borrowing money from the government, AKA: you basically put them on life support and they're not getting better. It would probably have been better to allow them to be liquidated so other car manufacturers and such could expand and take in more employees. GG government, you saved a dying race horse, but its still not running any races.
theaznfishy 1 year ago
Yeah right. People are just stepping on each other to go buy GM's crappy ass cars? Does anyone really believe that? This video is ministry of truth bull**** and Goolsbee is a shill who will say whatever it takes and play loose with the facts to get you to believe it.
3vils3qu3nc3 1 year ago
Is this a Joke?
scottj1988 1 year ago 3
This has been flagged as spam show
4 seconds ago
to quote bluetablepainting...
"Any company can have a resurgence if money is ripped out of other business and people and given to them"
This man is saying that the value of the company is now more than 50 billion dollars.
Think of how many small businesses could have been bailed out with the $52,000,000,000 given to General Motors.
(of which they have still only begun to pay back)
Emidretrauqe 1 year ago
Comment removed
Emidretrauqe 1 year ago
The chosen one will bring down the real new world order.
BranIL28 1 year ago
I have a video response to this video but that feature is disabled so please check out noagendashots # 40 for my video response if they allow this comment
noagendashots 1 year ago
it says we cant post video responses but I have one
noagendashots 1 year ago
This has been flagged as spam show
Austan Goolsbee is strangely awesome...
imajor86 1 year ago
Austan Goolsbee is strangley awesome...
imajor86 1 year ago
Yeah we will see how long this last until the next hand out!
hardcorenyc 1 year ago
This has been flagged as spam show
A news poll on TV just out, said that a majority of voters regretted voting republican. Their reason they gave for doing so, was because the economy wasnt growing fast enough, and unemployment was still so high! That reminds me of the guy who committed suicide because the doctor wasnt making him get well fast enough!! Wake up America, the republican party will not do anything to help you!! REPUBLICANS LOOK OUT FOR THE WEALTHY! DEMOCRATS LOOK OUT FOR THE POOR AND MIDDLE CLASS!!!!
TomThumbsFables 1 year ago
change you can believe in, cuz you can actually see it. this is just one example of how a fundamental change in operation can make such a huge difference going forward.
mihiryouthere612 1 year ago
@mihiryouthere612 I suggest you look the word "Platitude" it explains your post ...
TheKaos007 1 year ago
@TheKaos007 I suggest you look up the word "grammar" as it is missing from your post. This, in fact, is a change from the operation of GM before restructuring, and it has resulted in both record profits and a record setting IPO. Do you not want GM and the rest of America's auto and manufacturing industries to succeed?
mihiryouthere612 1 year ago
@mihiryouthere612 Sorry English is a second language but if you feel better with personal attacks good for you..Now fuck off...
TheKaos007 1 year ago
We know what the GM bailout, Chrysler bailout was. It's to give the unions ownership to protect their health care benefits the true investors (US) in Chrysler, for example, got hosed. And Obama told 'em they were being childish. certain people (US) are not gonna be allowed to get into the IPO, and the IPO share is false and inflated It's an insider game
GM needed to have several very positive quarters of growth before they would offer IPO to the public and they have not...WE ARE NOT STUPID
meltdown53 1 year ago
Are you really happy that the government took an investing gamble with our tax money? They shouldn't be throwing our money around in the first place! Give it back to us!
universalmusac 1 year ago
@universalmusac NO!! If anything, our taxes should go up! President Obama and Congress has so much more to do, lot of legislation needs to go through in order to complete their tasks! More money will be needed for education, building high speed rail service, green energy, communication, airline navigation overhaul, helping the poor!! Lots more government programs need to be implemented which will cost billions!! I say let the bush tax cuts expire, and implent a VAT like Europe has!!
TomThumbsFables 1 year ago
@TomThumbsFables Tom, what's stopping you from supporting those worthwhile causes with your own money? Why get the government involved at all? What happens when they start supporting things you disagree with? If we all had more of our money and the government closed many of their programs, we could support the programs we wanted and fire the organizations that performed poorly. You can't fire the government, even with a change in leadership.
universalmusac 1 year ago
@universalmusac Well, so far, everything that Obama and democrats have done are positive things which is for the overall good of everyone! Even if I sortof wonder about whether they are doing the right thing, President Obama always explains how the bill that he signed is good for America! He never seems doubtful, and is sure about what he is doing, so I trust him to do whatever is best for the nation! Simple as that!
TomThumbsFables 1 year ago
@TomThumbsFables Your first mistake was trusting your government whole heartedly.
universalmusac 1 year ago
@universalmusac
The way corporations were most immediately impacted in 2008 was that banks stopped lending. That's a crisis. They called it a 'liquidity crisis' because companies are constantly taking out small short-term loans as part of the normal operation of their business.
The whole point of lending to the banks was to allow the banks to lend TO the private sector.
To end the liquidity crisis and allow capitalism to work.
You can't have capitalism without capital.
ReliableInsider 1 year ago
@ReliableInsider I don't know if I buy the, since bad stuff didn't happen, all the actions we took must have been worth it approach. There is no way to know what would have happened, only speculation and justification after the fact. Small businesses still have a hard time getting credit, a lot of good it did for us.
universalmusac 1 year ago
@TomThumbsFables i love it with you liberals always want peoples money to do things.Why don't you write a big fat check and send it to the gov instead of forcing people to do it..Obama ain't doing nothing more for the next 2 years the adults are back in charge,the people of America have had enough of his socialism..
TheKaos007 1 year ago
Mr goolsbee, jesus christ bless you with great future. Keep your heart strong!
bass109 1 year ago
Mr. Goolsbee, do you think the American public is this gullible? You should file this video under Humor.
maxium4x4 1 year ago 3
@maxium4x4 Wow I wish the government would bail my small business out if we took on a bunch of debt we couldn't afford and made crappy products. Their competitors would have likely swooped in to buy them at a discount and/or taken over their market share and expanded their plants. So now instead of Ford and Toyota plants we have GM. And the government owns it....
universalmusac 1 year ago
@maxium4x4 do you think you're smart? because if so, get used to accepting facts for truth.
mihiryouthere612 1 year ago
@mihiryouthere612 You pay debt with earned money where I went to school. GM seems to be using TARP funds from an escrow account at Treasury to make the debt repayments. The quarterly report from the Office of the Special Inspector General for TARP says “The source of funds for these quarterly [debt] payments will be other TARP funds currently held in an escrow account.” See, Office of the Special Inspector General for TARP, Quarterly Report to Congress dated April 20, 2010, page 115.
maxium4x4 1 year ago
@maxium4x4 GM has been operating at a profit, so it can slowly ween itself off the need for those TARP funds. its been almost three quarters since April, i suggest you read up how GM has been doing fiscally.
mihiryouthere612 1 year ago
This has been flagged as spam show
CHINA MUST PAY USA A HUGE FINE FOR VIOLATING COPYRIGHT RULES! MY KIDS WILL GROW UP AND HAVE CANCER COS CHINA POLUTES OUR PLANET WITH THEIR $ 1 DOLAR CRAP.USA OPEN WIDE EYES TO CHINA ON HOW TO OPEN FACTORIES AND CHINESE STOLE ALL AMERICAN IDEAS, CHINA OWES USA HUGE FINE! CHINESE DRIVE MERCEDES AND AMERICAN PEOPLE DRIVE HONDA, DREAM ON COMMUNIST FUCKERS WE OPEND UR EYES, WE CAN CLOSE THEM WHENEVER WE WANT!
democratsaresmart 1 year ago
Is Mr. Goolsbee aware that the money given to the GM in the bailout was about that much?!?! 49.5 billion to be exact... so actually with his logic, without government intervention GM would have still had a profitable year, and the tax payers wouldn't be in the business of owning private coorperations in the first place!
hddnwrd 1 year ago
Back in the 1980s, GM had the opportunity to make better cars than the Japanese auto makers. They could've made more fuel-efficient cars. But they decided not to. They didn't want to EVOLVE. So, like the dinsaurs, they slowly became extinct. This company should've died in 2008. The executives of GM are living in the stone age. If they were smart, they would've made better cars that were attractive to Americans. Most Americans put GM out of business! Why tax them to bail out GM?!! It's stupid.
MishuTaste 1 year ago
More solid evidence comes out that 9/11 was an inside job. Reference: youtube.com/watch?v=NX_UKdqoa_o
BranIL28 1 year ago
Oh oh, evidence pictures just released show the twin towers exploding from the inside, according to RTN news, showing that 9/11 was a inside job. The question is now why?
BranIL28 1 year ago
I risky proposition.. what happened to shareholders when they went belly up? Did they get their money? Now they want people to invest again. Have they paid back that 49 billion? I think Soetoro said they have. Do we have any proof? If they did are we the taxpayer seeing the benefits of this pay back? Something fishy here ..
Josephdaz1 1 year ago
@Josephdaz1 Did the shareholders get what money? When GM went bankrupt, its stock was worth approximately zero dollars. A lot of people blame GM's executives for its failure, but the shareholders are allowed to fire those executives.
As for paying back the money, the government's aqusition of GM qualifies as GM paying the government back in stock rather than dollars. Now the government is selling that stock to the highest bidder.
mustang6172 1 year ago
@mustang6172 So they got nothing .. why would anyone want to invest with the potential for another future failure?
Josephdaz1 1 year ago
This has been flagged as spam show
CHINA MUST PAY USA A HUGE FINE FOR VIOLATING COPYRIGHT RULES! MY KIDS WILL GROW UP AND HAVE CANCER COS CHINA POLUTES OUR PLANET WITH THEIR $ 1 DOLAR CRAP.USA OPEN WIDE EYES TO CHINA ON HOW TO OPEN FACTORIES AND CHINESE STOLE ALL AMERICAN IDEAS, CHINA OWES USA HUGE FINE! CHINESE DRIVE MERCEDES AND AMERICAN PEOPLE DRIVE HONDA, DREAM ON COMMUNIST FUCKERS WE OPEND UR EYES, WE CAN CLOSE THEM WHENEVER WE WANT!
democratsaresmart 1 year ago
GM should incorporate a flash drive to the fuse box under the hood in concert with the diagnostics. Owners can remove it, plug into a PC or Apple, bring codes, all diagnostic information, & history.
A great selling point now that GM is on the market & we could also take the flash drive into a dealership without taking the entire vehicle in.
Communicate with the dealership, GM online so customers can make an informed decision before going to a dealership. I was ASE Certified, I can't w
greyghost1957 1 year ago
@greyghost1957 dude you should e-mail GM about that. That's actually a tight as hell idea.
tiftmasta 1 year ago
@tiftmasta
I did but like DC, GM now part of the same family, I doubt I hear back.
The plan was to get back with them today.
greyghost1957 1 year ago
@tiftmasta
I did but GM is part of the DC family so it will either take years for them to reply of they never will.
Plan was to get with them today
greyghost1957 1 year ago
Did he blame Bush for this as well?
5packzach 1 year ago
The message I get from this video is: "We can do whatever we want to do w/ your tax money whether you like it or not! Nyaaaaaaaaaaaaaaah!"
MishuTaste 1 year ago
@MishuTaste Not exactly the message.... but if that's what you heard, you might wanna get your hearing checked. Take a look at the recent changes at GM's stock and tell me they haven't turned their company around. Don't take my word for it or the word of Austan Goolsbee. Do a bit of research about the company. It's becoming quite profitable.
aaronmcnello 1 year ago
@aaronmcnello I know it's a profitable company. But they were granted FREE MONEY from the taxpayers instead of earning the money to develop their product. Collectively, we had to sacrifice our money for them to be a success.
MishuTaste 1 year ago
@MishuTaste And now they are paying it back. OH NO!!! WE SAVED A BUNCH OF PEOPLE FROM LOSING THEIR JOBS WHICH WOULD HAVE MADE US GO INTO A DEEPER RECESSION! Shame on america for loaning money to their neighbors. -_-
aaronmcnello 1 year ago
@aaronmcnello What I have a problem with is this: Congress decided which corporations should succeed instead of free market competition. I don't want the U.S. federal government to show favoritism to corporations. The executives of GM decided NOT to compete with the Japanese auto makers. The majority of Americans decided that they liked the Japanese cars more. The free market decided to put GM out of business. It sucks, but that's the reality of the situation.
MishuTaste 1 year ago
@aaronmcnello If GM was so profitable can you tell me why the Government sold such a big stake of their shares for a loss of around 10-11 dollars per share?
RLWSNOOK410 1 year ago
Why should the Executive Branch care about the performance of a single corporation? GM is responsible for its own problems! GM should've been competitive w/ the Japanese auto industry 20 years ago! American companies, take notice: If you can't give your customers what they want, you're going to lose!
MishuTaste 1 year ago
Austan is cool
wullebulle123 1 year ago 5
@wullebulle123 I'm inclined to agree with you. He has a unique swagger and confidence about him
lildwayne21 1 year ago
If a consumer does not know anything about cars, it is ok. In the las 60 years the industry has put a lot of money for the political whels. But the quality is not there. The DA's in every state act like the police for the industry. GM and its dealers are not honest. The same applys to ATT and Verizon. They are dishonest.
1930GUSTAVO 1 year ago
wow, this guy makes obama sound like jesus.
ironmantis24 1 year ago
I'm just worried that they aren't going to be selling alot of those Chevy Volts, not alot of people out there will have the money to spend on them, and the banks are still reluctant to start lending again.
I still feel we are in this liquidity trap, and I believe that our trade deficit with China has something to do with it.
XionXXXX 1 year ago
The government should have nationalized GM. Private ownership of any industry leads to shortsightedness and disorganization.
FaaarLeft 1 year ago
Aren't unions a big problem, too, though?
boss1001 1 year ago
@boss1001 Only because we are flooded with imports from countries who violently repress them. When unions are everywhere it's actually a really good thing. Post WW2, when we were basically the only industrial country still standing, unions built the middle class.
ArchNME 1 year ago
Austan Goolsbee is a genius.
lildwayne21 1 year ago
ford
SmasherVlog 1 year ago
man, it is rare for me to see genius. I am really really impressed.
AnimeStacks 1 year ago
@AnimeStacks pure genius. Government sells shares for a loss. If it is such a great company why sell for a loss?
RLWSNOOK410 1 year ago
The govt invested in GM with a price per share cost average of $43.84. Now the government just sold off over half their stake in the company for a loss of $10.84 per share!!! now if this was such a great company, such an engine of growth why sell for a loss?!?!?!
RLWSNOOK410 1 year ago
You may not agree with the President on many topics, but GM being alive, growing, and building cars that people want (and making them in the United States) is good for the US. My next car will be a Chevy Volt.
edumgr 1 year ago
This comment has received too many negative votes show
I LIKE THAT THIS GUY USES FORD AS AN EXAMPLE FORD DIDNT NEED ANY HELP BECAUSE THE FREE MARKET DECIDES WHO WINS AND FAILS NOT THE GOVERNMENT EXECPT IN A SOCIALIST COUNTRY FORD DID THERE HOME WORK AND KNEW WHAT PEOPLE WANTED TO BUY. GM SHOULD HAVE FAILED AND THERE NOT PAYING BACK THE AMERICAN TAX PAYERS WERE NEVER GONNA GET A CHECK IN THE MAIL OR A SHARE OF STOCK THE ONLY PEOPLE THAT WILL GET MONEY IS THE PEOPLE THAT HAD GM STOCK AND WAS TOLD TO HOLD ON TO IT AND THEY WOULDN'T LOSE ANY MONEY.
jettaknightvr6 1 year ago
This comment has received too many negative votes show
THIS DORK IS FULL OF SHIT GM SHOULD HAVE FAILED AND NOW THAT THE AMERICAN PEOPLES TAX MONEY PAID TO BAIL THEM OUT AND NOW THEY STILL SUCK NO ONE WILL STILL BUY THERE AMERICAN CARS SUCK
jettaknightvr6 1 year ago
@jettaknightvr6 Are they profitable? They seem to be. It's in our national interest to have certain industries, and we will use policy to attempt to serve our national interest. That's one of the things governments do.
pgunn01 1 year ago
@pgunn01 yeah anything thats in our national interest is suppose to be good just like the tsa strip seaching a 5yo at the airport because noone under 15 has ever highjack an airplane but it in the name of safty right.
jettaknightvr6 1 year ago
@jettaknightvr6 well seeing how that policy doesnt apply to young children, you're clearly highly uninformed.
mihiryouthere612 1 year ago
Comment removed
jettaknightvr6 1 year ago
GM(government motor(eletric)) Today GM choice of material is aluminum, plastic and lead with sulfur acid. Government motor is harm to the environment. Fluorite is a waste product when aluminum is produce.Plastic is dumb in the ocean(recycle). Lead will leave you brain dead and contain some form of mercury, and the sulfur acid from the battery will contribute to acid rain.All these HARM to the environment will bring enforcement on some form of carbon tax.
SteveXnycperformance 1 year ago
Plus you will suffer from electromagnetic wave produce by high voltage coil with magnetic wave just like the TSA X-rays body scanning machine.See you roasting in the rain, please tell us you have some wealth to spread.cause we know a compac electric car will cost $100,000 with GM insurance,financing and salvage(recycle dump program business
SteveXnycperformance 1 year ago
most kids first toy car is electric., then they learn to walk.
SteveXnycperformance 1 year ago
Instead of investing in transit, we're blindly purusing the same strategy that has us falling behind in terms of our global competitiveness while at the same time continuing our exposure to national security risks associated with dependence on foreign oil largely provided from areas of the world that don't particularly care for us?
racole001 1 year ago
@racole001 And you wanted this total restructuring on our economic base a couple of months after he won his election and with a negative growth for the 3 first quarters? Wow, that's fast...really excellent thinking
USASalim 1 year ago
Transit: The real job engine. We need to invest in new and/or improved transit in heavily congested urban corridors while at the same time pricing *all* existing highway capacity (and not expand any of it). Use the revenue to fund both highway and transit ops/maintenance, significantly reduce congestion, provide a huge boost to economic activity, improve the flow of commerce by getting commuters off the road during peak use periods, and manage to help the environment in the process; a win-win.
racole001 1 year ago 2
@racole001 Thank you for this. Ultimately, it comes to this: transit price has to reflect its real cost. Anything else is a market distortion. Bundling road & freeway costs into the tax base means that drivers don't bear that cost. When we pay for buses or trains out of the general tax base, we hear the hue and cry: "They're not profitable! Waste!"
Solution: Tax cars and trucks based on mileage and fuel use, and balance that tax to pay for all maintenance and expansion of roads.
rickrussell 1 year ago
Holy crab! That most be the biggest growth Ive ever seen!
Hansped33 1 year ago
TALK SHIT NOW TEA PARTY!!!
you dumb pieces of shit.
EmpathyWorks 1 year ago 21
EmpathyWorks Better go back and read - seaplaneguy1 - post. It explains obama magical liberal math and how this video is just another day of odumbo drones "Lying-By-Omission"
memama2 1 year ago
@memama2 I wish I had your life. Because then I wouldnt have to research or do ANY math at all, and I could just point my racist finger at Obama and blindly blame him for everything.
I wish I could do that. But I cant, because I think Id kill myself if I tried to perfect your talent for being a worthless piece of trash.
EmpathyWorks 1 year ago
This has been flagged as spam show
@EmpathyWorks
I believe you are being over-generous to the the Koch-Tea-Party
pseudotruth 1 year ago
@EmpathyWorks Go on Google finance, type in GM, then hit "3M," not looking to hot now, even without paying taxes.
kjshins 10 months ago
*applause*
inappropriategiggle 1 year ago
Great video! Keep it up please!
cnewsome3 1 year ago 2
If the President said Mom and apple pie are good things, the Republicans in Washington would be against them.
If the President said Freedom and Democracy are good things, the Republicans in Washington would fight against them.
If the President said he loved the Constitution of the United States of America, Republicans in Washington would try to repeal parts of it.
It's time to stop rewarding Republicans in Washington for holding us back.
Whether they like it or not, there's work to do.
ReliableInsider 1 year ago 3
@ReliableInsider Too bad most people don't agree with you. You must have missed Nov 2nd, aka massive Dumbocrat and their socialist ideas defeat.
bsharker 1 year ago
@bsharker Nov 02? You mean the House defeat of the democrats, but also the night crazy wack-a-doodle tea party nonsense was defeated in the senate.
Also, funny you think it's socialist ideas that were defeated, since the people who've the GOP had already declared they won't be cutting defence spending, social security spending or medicare spending (which amounts to more the 63% of the budget) all 3 are pretty socialist ideas and yet you won't find many willing to live without them.
s19eightyfour 1 year ago
@bsharker
The reason the Republicans in Washington have been fighting Obama tooth and nail is that the banking industry and the health insurance industry and the oil industry and corrupt private military contractors have been PAYING them to.
Republican Members of Congress are scared that Obama's going to fix the economy too quickly and they're ALL going to be out of a job.
They filibustered everything. America should have punished them for that in the voting booth.
ReliableInsider 1 year ago
This has been flagged as spam show
White House White Board: The Rebirth of the American Auto Industry
November 19, 2010 --In the fourth edition of White House White Board, Austan Goolsbee, Chairman of the Council of Economic Advisers, discusses the President's tough decisions on the American auto industry in light of the General Motors IPO.
GOVERNMENT MORTGAGE RELIEF
1-858-366-4777 SKYPE
1-800-270-2928
88888FORCE 1 year ago
No matter how high the bar is, Republican's will trash Obama's success. It's plain and simple. Obama is black, so they want "to take [their] country back!"
Lifeplay 1 year ago 3
I like 3:10-3:15
"And Paying Back the American Taxpayer!"
braupaul 1 year ago
They should´ve done to banks what they´ve done to GM
alonelychild 1 year ago
@alonelychild Unfortunately, we didn't have the same administrations back then...
jshjamaar 1 year ago
and the Gov't should of made a deal with GM. You make really efficient cars and we will give you this "loan"
Tydomes 1 year ago
I owned a Chevy Cavalier; It was a GREAT little car with ZERO defects. It had 94,000 on it, when I got rid of it; the old man in Georgia who bought it LOVES the car... God BLESS America...
BuyaNissan 1 year ago
Gm did NOT turn a profit. When you get you money for free you are not having real costs. 50 billion at 5% is 2.5 billion. Add that in as a cost and they have NOT made a profit. Reality is nobody would loan to them because the bond holders were shafted.
If I had $50billion, you would be driving a car that got 500 mpg city and 250 highway...at night and twice that during the day depending on duty cycle. GM management has no idea what is coming.... Wake up White house...
seaplaneguy1 1 year ago
seaplaneguy1 ...best post on YouTube this week! Keep coming back and posting when you see AustieSpumantieGoolsbee magical liberal math videos. It helps the obots see that someone can do factual actual MATH. And those numbers are hella bad worse than obama claims
memama2 1 year ago
@memama2 Look...get an engine that gets 60% vs 13% for a GM engine on average. .60/.13=4.6 or 460% improvement. A GE combined cycle gets 60%, and freighter diesels get 58%...very doable. 1/4.6=.79 or 79%. That leaves 21%. Add in a solar cycle and power from your house and you get...90%. My house, two car, electrical house power...90%.
B. Gates put up 23.5 million for an engine that will do 15% better. Reality is 90% is possible. No gov official has a clue...
seaplaneguy1 1 year ago
There is technology in works that will get 90% of the current fuel loads out of the average person's life. GM will NOT survive...sorry...or at least all the leadership will have to be replaced and all the union thugs removed.... With this technology, GM shares would be worth $400+/share, not $34. Volt car is a joke.
seaplaneguy1 1 year ago
This has been flagged as spam show
I CANT BELIEVE THIS, BUSH IS PROMOTING HIS BOOK, WHILE AMERICAN PEOPLE SUFFER AT THE AIRPORTS SECURITY, BEING X-RAYED, REMOVING THEIR BOOTS, SOON WE WILL BETO REMOVING UNDERWEARS AND BUSH WILL BE SIGNING MORE BOOKS! WTF IS HAPPENING TO US? DRUNK PRESIDENT KILLED 3000 AMERICAN PEOPLE AND DESTROYED TWIN TOWERS AND WE BUY HIS BOOK? ARE WE DRINKING TO MUCH CAFFEINE? MAY BE WE GET TOO MUCH RADIATION FROM CELLPHONES? WAKE UP AMERICA, 3000 AMERICAN PEOPLE WHO DIED IN 9/11, REST IN PEACE!
democratsaresmart 1 year ago
@democratsaresmart wait when did bush destroy the twin towers?
Tydomes 1 year ago
@Tydomes WHEN HE WAS DRINKING JACK DANIELS WHILE ON A PHONE WITH SAUDIS! DO U HAVE BIG BALLS?
democratsaresmart 1 year ago
@democratsaresmart your name doesn't suit you.
Tydomes 1 year ago
lol, thank you for pointing out absolutely nothing.
Tydomes 1 year ago
Lol, nice propaganda.
TomValedro 1 year ago
@TomValedro Can you dispute any of the facts, or are you just doing what the typical righty does?
demmmmm1 1 year ago 2
Thumbs up if you're voting for Ron Paul in 2012.
Rigorvitus 1 year ago
@Rigorvitus Thumbs down. Ron Paul would bring great harm to the nation. He doesn't understand how important our laws and institutions are, and just wants to unplug everything and tear it apart. You wouldn't let someone like that service your car - why should you let them tinker with government?
I'd sooner reelect BushJr or James Buchanan than elect Ron Paul.
pgunn01 1 year ago 6
An estimated 1,000,000 jobs were saved. Republicans hate that.
demmmmm1 1 year ago 5
@demmmmm1 lol this is small compared what brazil got in last year
ballxpaulmito9999 1 year ago
@demmmmm1 how are we still at 10% unemployment then?
Tydomes 1 year ago
@Tydomes We're at 9.6%, which is where we were at just 6 months into Obama's presidency, before his economic policies had a chance to take hold. We need 100,000 new jobs every month just to keep up with population growth. It's estimated the stimulus saved 3 million jobs, and has been creating private sector jobs for 10 straight months now. It's not fast enough, but if Republicans had had their way, we'd be in far worse shape today but the rich would still be getting their handouts.
demmmmm1 1 year ago 2
@demmmmm1 No, this is propaganda still.
TomValedro 1 year ago
@demmmmm1 well how bout that job loss in the public sector? lol
Tydomes 1 year ago
@Tydomes Job losses and gains in the public sector don't figure in all that much, but if you're talking about the jobs lost after the census, that was expected.
And, if Republicans hadn't gotten their way on the stimulus, more public sector jobs would've been saved.
demmmmm1 1 year ago
@demmmmm1 what i was referring to is if there is an average of 70,000 jobs gained in the private sector each month....how the hell are we still at 9.6% unemployment.
Tydomes 1 year ago
@Tydomes New people enter the workforce each month, statistically, meaning that if you created zero jobs in a month, you'd lose ground.
demmmmm1 1 year ago
@Tydomes The jobs numbers are positive, but they don't match the natural increase of young people reaching working age plus the jobs lost to the austerity measures most states are employing. The rate *has* to increase. At this rate your economy is still atrophying.
EdgeNicx 1 year ago
Tydomes We are up to 14 - 19 percent unemployment in many areas if you count all the kids who cannot even find any work part time or full time. And the adults who have dropped off unemployment rolls and live off family or spouse who still work. The entire thing is going to go *boink* when the obama union pensioners start retiring and the BILL$ COME DUE! Add on the exemption they all got to keep their premo health care WE THE PEOPLE (who are not on government pensions) HAVE TO PAY FOR it sucks
memama2 1 year ago 2
Saveing american jobs at what cost? the lives of innoscent people murdered by the car industry that the previous presidents should have changed..
Into super trains.
Good job secureing the future of death for americans.. and keeping the jobs..
What does all this mean.. were screwed..
were in wheel chairs and we dont have self propelled techonlogy trains . and a better transportation system
yes saving jobs is good. but at what cost? i understand it was neccessary to keep gm alive ;[
trinity00matrix00 1 year ago
First comment, WOOH. Obama rocks!
Archimedes555453525 1 year ago 4
Wow, interesting stuff! Thanks for this good explanation and showing this, very informative.
CDTbossy 1 year ago 4