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Yo_Mama_Been_Loggin

(107,085 posts)
Wed Nov 28, 2018, 03:48 PM Nov 2018

Trump retweets item saying GM should pay back bailout money

WASHINGTON — President Donald Trump on Wednesday retweeted a suggestion that General Motors Co. should pay back the money the government spent to keep it afloat as part of the auto industry bailout if it doesn't keep jobs in the country.

"If GM doesn't want to keep their jobs in the United States, they should pay back the $11.2 billion bailout that was funded by the American taxpayer," read the tweet by The Trump Train, which calls itself a fan account of the president.

Trump, who has expressed anger over GM's planned closing of American auto plants this week, retweeted the tweet without comment.

https://www.msn.com/en-us/news/politics/trump-retweets-item-saying-gm-should-pay-back-bailout-money/ar-BBQcy2K?li=BBnb7Kz

I thought they did pay it back, with interest.

27 replies = new reply since forum marked as read
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Trump retweets item saying GM should pay back bailout money (Original Post) Yo_Mama_Been_Loggin Nov 2018 OP
Nobody cares. When will he figure that out. n/t CincyDem Nov 2018 #1
They did, fucker is stupid. Iliyah Nov 2018 #2
They did and with interest too. Botany Nov 2018 #7
They did, years ago. Once again Tiny proves he has no idea what's going on. The Velveteen Ocelot Nov 2018 #3
He actually might know, but at the same time knows his knuckle-dragging cult are a bunch of clueless mr_lebowski Nov 2018 #6
Just more yap flapping for his deplorable base The Genealogist Nov 2018 #4
Not According The Propublica ProfessorGAC Nov 2018 #5
The US sold its shares back in 2013 Kaleva Nov 2018 #11
Is My Cite That Old? ProfessorGAC Nov 2018 #12
Here's a link Kaleva Nov 2018 #14
Thanks Again! (nt) ProfessorGAC Nov 2018 #19
No problem! I didn't know about the stock selloff until I google searched and found that article Kaleva Nov 2018 #22
I Searched Too ProfessorGAC Nov 2018 #27
We must repeal & replace the the trump/McConnell tax fraud bill bronxiteforever Nov 2018 #8
Trump threatening folks about paying money back? gratuitous Nov 2018 #9
GM already paid that back. Using TARP funds it recieved but didn't need. Kaleva Nov 2018 #10
That's true. fescuerescue Nov 2018 #15
There was 2 components of the bailout fescuerescue Nov 2018 #13
First he said he was going to take away bailout money NastyRiffraff Nov 2018 #16
Here's what he said (about plants closing in Michigan) when he was campaigning mokawanis Nov 2018 #17
Because of this from trump duforsure Nov 2018 #18
Deadbeat Donald is insisting others pay back their loans? Ilsa Nov 2018 #20
This is how ignorant his remaining base is. WeekiWater Nov 2018 #21
GM is acting in wjat it sees as its own best interest.... Adrahil Nov 2018 #23
Hey, Tiny, isn't that how the free market works in a capitalist system? The Velveteen Ocelot Nov 2018 #24
GM has paid it back. n Blue_true Nov 2018 #25
Then by this logic shouldn't he pay back all his bankruptcy bailouts? MLAA Nov 2018 #26
 

mr_lebowski

(33,643 posts)
6. He actually might know, but at the same time knows his knuckle-dragging cult are a bunch of clueless
Wed Nov 28, 2018, 03:58 PM
Nov 2018

dumbf***s who'll believe any nonsense he vomits out on the twitter-machine, so ...

Win-Win, right?

The Genealogist

(4,723 posts)
4. Just more yap flapping for his deplorable base
Wed Nov 28, 2018, 03:55 PM
Nov 2018

I don't know which he likes better: hearing the sound of his own voice, or the mindless cheers of the deplorables.

ProfessorGAC

(64,419 posts)
5. Not According The Propublica
Wed Nov 28, 2018, 03:57 PM
Nov 2018

[link:https://projects.propublica.org/bailout/list|

There was substantial payback and interest and the gov't owns 60% of GM and 8% of Chrysler.

You can click on the 2 car companies and see a breakdown. Per this link, Chrysler has been forgiven 8 billion after they emerged from BKO and the merger with Fiat.

The debt outstanding on GM is higher, but the government has a huge stake in the company in the form of equity shares.

gratuitous

(82,849 posts)
9. Trump threatening folks about paying money back?
Wed Nov 28, 2018, 04:10 PM
Nov 2018

A long line of stiffed Trump creditors responds, "You first, Deadbeat Donnie."

fescuerescue

(4,448 posts)
15. That's true.
Wed Nov 28, 2018, 04:20 PM
Nov 2018

They used part 2 of the bailout to payback part 1.

That's awesome. I mean. It's always nice to get paid back $11 billion dollars...no matter how rich you are, $11b can be put to use.


But that's a pretty big asterix next to that accomplishment.

fescuerescue

(4,448 posts)
13. There was 2 components of the bailout
Wed Nov 28, 2018, 04:16 PM
Nov 2018

A Loan and an equity position.

GM paid back the loan ($10.5 B)

The equity position the government took is still out there and most can't be recovered. That's about $49B.

But that was simply an investment that US government made into GM. From a financial/investing standpoint, it was never expected to pay off in the traditional way.

The payoff there is in saving jobs and the auto industry. While about $34B will never be recovered and can be considered lost, it was still a good investment from a societal point of view.

https://www.factcheck.org/2010/05/general-motors-debt/

NastyRiffraff

(12,448 posts)
16. First he said he was going to take away bailout money
Wed Nov 28, 2018, 04:22 PM
Nov 2018

that ended in 2014. Now, someone finally told him that, so he's demanding GM repay it, which they already have. With interest.

God, he is stupid.

mokawanis

(4,434 posts)
17. Here's what he said (about plants closing in Michigan) when he was campaigning
Wed Nov 28, 2018, 04:25 PM
Nov 2018

Donald Trump campaigned for president on a promise to Michigan auto workers that

“If I’m elected, you won’t lose one plant, you’ll have plants coming into this country, you’re going to have jobs again, you won’t lose one plant, I promise you that.”

So, tRump, don't make promises you can't keep.

duforsure

(11,882 posts)
18. Because of this from trump
Wed Nov 28, 2018, 04:33 PM
Nov 2018

More companies will move outside of this country now for fear he'll hurt them intentionally, and he will. He wants absolute power over them all. This should also cause many more to support the Democrats in 2020.

 

Adrahil

(13,340 posts)
23. GM is acting in wjat it sees as its own best interest....
Wed Nov 28, 2018, 06:03 PM
Nov 2018

... and if they didn't and failed again, the same ole idiots would be howling.

BUT... we, as a society, need to be looking after our people. WE need to ensure they get adequate unemployment benefits, health care, retraining where appropriate, and investment in our nation, including investment that can provide jobs (infrastructure, R&D. etc.)

And GM and other corps need to be taxed to help make that happen. Oh yeah, and rich folks too.

The Velveteen Ocelot

(115,276 posts)
24. Hey, Tiny, isn't that how the free market works in a capitalist system?
Wed Nov 28, 2018, 06:14 PM
Nov 2018

GM made a business decision based on various considerations, not the least of which were reduced demand for sedans and Tiny's own tariffs on steel, that were in the best interests of its shareholders. I thought GOPers didn't want the government interfering in the operations of private businesses competing in a free market. Tiny was too dumb to realize it was a bad idea to make promises he couldn't keep.

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