{"id":13911,"date":"2012-05-16T14:07:45","date_gmt":"2012-05-16T18:07:45","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=13911"},"modified":"2012-05-16T14:08:11","modified_gmt":"2012-05-16T18:08:11","slug":"would-you-let-these-people-manage-your-401k","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=13911","title":{"rendered":"Would You Let These People Manage Your 401K ?"},"content":{"rendered":"
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\"Logo<\/a>

Logo of General Motors Corporation. Source: 2007_business_choice_bro_en.pdf (on GM website). (Photo credit: Wikipedia)<\/p><\/div>\n

John Lott<\/a> posted an article at National Review<\/a>\u00a0today about what has happened to the money used to bail out General Motors<\/a>.<\/p>\n<\/div>\n

The article reports:<\/p>\n

Three years ago his administration invested more than $100 billion in taxpayer<\/span><\/a> money to bail out General Motors. On Tuesday, the entire company, not just what the government owns, was worth less than $34 billion. By anyone\u2019s definition, that investment is a glaring failure. Yet over the last few days the Obama campaign<\/a>, in a $25 million marketing blitz<\/a>, has flooded the airwaves with ads in battleground states, claiming the bailout should be counted a rousing success.<\/strong><\/p>\n

The contrast between the facts and the campaign ads<\/a> is amazing.<\/p>\n

Another thing conveniently not mentioned in the campaign ad is the number of automobile dealerships<\/a> that were put out of business in the General Motors and Chrysler<\/a> bailouts<\/a>.<\/p>\n

The article reminds us:<\/p>\n

The only real winners from the GM bailout were unions<\/a>, which were protected from pay cuts, from losing their right to overtime pay after less than 40 hours a week, and from cuts to their extremely generous benefits. They faced only minor tweaks in their inefficient union work rules.<\/strong><\/p>\n

As for \u201chundreds of thousands of new workers,\u201d the truth is closer to a tenth<\/a> of that.<\/strong><\/p>\n

Having just $34 billion to show after a $100 billion-plus investment would get a chief executive of any private company fired. Unfortunately, Obama does not seem to understand how this money has been wasted.<\/strong><\/p>\n

Would you let these people administer your 401K account?<\/p>\n

<\/strong>\u00a0<\/p>\n

\"Enhanced<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

  John Lott posted an article at National Review\u00a0today about what has happened to the money used to bail out General Motors. The article reports: Three years ago his administration invested more than $100 billion in taxpayer money to bail … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2257,425,422,500,121,2606,911,562],"class_list":["post-13911","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bailout","tag-barack-obama-campaign-2012","tag-campaign-advertising","tag-chrysler","tag-general-motors","tag-john-lott","tag-national-review","tag-obama"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/13911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13911"}],"version-history":[{"count":2,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/13911\/revisions"}],"predecessor-version":[{"id":13941,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/13911\/revisions\/13941"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}