Barack Obama and Joe Biden repeatedly told the American public that Romney helped send American jobs overseas. Biden said it so often that it sounded like a broken record or a looped sound bite, mindlessly playing the same thing over and over and over again until everyone is sick and tired of hearing it. They said it so often that millions of gullible voters began believing them and voted for Obama.
If the current rumors are true, I wonder how Obama and Biden would justify their part in doing what they accused Romney of?
Recall when Obama used $51 billion of taxpayer money to bail out General Motors? So far, most reports state that GM has repaid $36 billion back to the Treasury Department. Most estimates seem to hint that once the remaining stocks have been sold that the final payback will total about $41 billion. That means that US taxpayers lost $10 billion on the GM bailout.
One of the stipulations of the bailout was that GM did not send any jobs overseas. The question now is have they? The bailout set yearly car production requirements that GM was required to meet. In 2010, their federal quota was 1.8 million vehicles made here in the US. Each year that number increased and by 2014, GM was required to produce 2.26 million vehicles a year here in the US.
In 2010, GM missed its US quota by 81,000 vehicles. Each year after that, GM has not met its federal production quota. Then earlier this year, GM announced that they were no longer publishing their production numbers. At the same time, GM’s auto plants in China announced that they were ramping up production by 70%. Additionally, the exportation of Chinese produced GM vehicles was being increased from 77,000 to 130,000 vehicles.
Is it coincidence that GM’s Chinese facilities and exports have been increased by around the same numbers as the shortage of US produced vehicles? And why can’t the US plants produce the amount of vehicles that GM agreed to produce in their agreement with the federal government? Would it be safe to say that rather than hire more people to increase production here in the US that GM has turned to its cheaper labor source to meet its federal production quota? If that is true, then doesn’t Obama’s bailout of GM which is forcing them to turn to more jobs overseas rather than here in the US make him just as guilty of what he accused Romney of a year ago?