Their fiscal losses are covered by YOUR WALLET

" The Obama administration will tell Congress Wednesday that it expects to lose about $30 billion of the $82 billion government bailout of the auto industry.

Gene Sperling, senior counsel to Treasury Secretary Timothy Geithner, confirmed in an interview late today that the administration's forecast is that it will lose $30 billion on its auto investments -- but that's down from an earlier estimate of $44 billion.

"The real news is the projected loss came down to $30 billion from $44 billion," Sperling said, noting that auto sales have improved ahead of what many analysts had forecast. The administration still holds out hope that if things improve, the administration could still recover more.

"It was right decision then and the right decision now," Sperling said, calling it a "courageous decision by the president" to give the two automakers a "rebirth even though he knew it was not going to be politically popular.""

---How was the Auto Industry Bailout the right decision? Where and how does it make good/rational sense to give my money I earned to a private company?

I am afraid Aaron Russo is right..We already are a Socialist/Fascist Country..We just haven't realized it yet..

http://www.detnews.com/article/20091208/AUTO01/912080414/Obama-administration-predicts-$30B-loss-on-auto-bailout

Cash for Clunkers Revisted

Cash For Clunkers

If you traded in a clunker worth $3500, you get $4500 off for an apparent "savings" of $1000.

However, you have to pay taxes on the $4500 come April 15th (something that no auto dealer
will tell you). If you are in the 30% tax bracket, you will pay $1350 on that $4500.

So, rather than save $1000, you actually pay an extra $350 to the feds.

In addition, you traded in a car that was most likely paid for. Now you have 4 or 5 years of
payments on a car that you did not need, that was costing you less to run than the payments
that you will now be making.

But wait, it gets even better: you also got ripped off by the dealer.

For example, every dealer here in LA was selling the Ford Focus with all the goodies including
A/C, auto transmission, power windows, etc. for $12,500 the month before the "cash for
clunkers" program started.

When "cash for clunkers" came along, they stopped discounting them and instead sold them at
the list price of $15,500. So, you paid $3000 more than you would have the month before.

(Honda, Toyota, and Kia played the same list price game that Ford and Chevy did).

So let’s do the final tally here:

You traded in a car worth: $3500

You got a discount of: $4500

Net so far +$1000

But you have to pay: $1350 in taxes on the $4500

Net so far: -$350

And you paid: $3000 more than the car was selling for the month before

Net -$3350

We could also add in the additional taxes (sales tax, state tax, etc.) on the extra $3000 that you paid for the car, along with the 5 years of interest on the car loan but lets just stop here.

So who actually made out on the deal? The feds collected taxes on the car along with taxes on the $4500 they "gave" you. The car dealers made an extra $3000 or more on every car the y sold along with the kickbacks from the manufacturers and the loan companies. The
manufacturers got to dump lots of cars they could not give away the month before. And the poor stupid consumer got saddled with even more debt that they cannot afford.

Obama and his band of merry men convinced Joe Consumer that he was getting $4500 in "fr ee" money from the "government" when in fact Joe was giving away his $3500 car and paying an additional $3350 for the privilege.

-from an email I received, I did not write this.

'Cash for Clunkers program out of gas'

http://www.comcast.net/articles/finance/20090819/US.Cash.for.Clunkers/

What a joke...notice how the liberal writer forms the paragraphs and spins this redistribution of wealth program..

http://wcbstv.com/business/ny.dealers.clunkers.2.1135243.html

"Hundreds of auto dealers in the New York area have withdrawn from the government's Cash for Clunkers program, citing delays in getting reimbursed by the government, a dealership group said Wednesday.

Schienberg said the group's dealers have been repaid for only about 2 percent of the clunkers deals they've made so far.

Many dealers have said they are worried they won't get repaid at all, while others have waited so long to get reimbursed they don't have the cash to fund any more rebates, Schienberg said."

Why would any rational American buy into this program? Why would any logical American believe that the Federal Govt. can fix the Healthcare Problem? How could big government make wise decisions with our tax dollars? It does not hurt the Fed. Govt. to lose money on a project, they have a magic printing press entitled the Federal Reserve that will print more money, meanwhile we the American Taxpayers will experience increased taxes to pay for their grab for totalitarian power...

Have you been to the DMV lately? How about the Veteran's Hospital? Ever heard of Medicare and Medicaid fraud and wasteful spending?

Absolute insanity...JokerObama is crazy if he thinks rational American believe in him or trust him...

Here's the link to the government run hospital for Veteran's and how efficient Big Brother is:
http://www.foxnews.com/story/0,2933,512963,00.html