Comments on: GM Did Not Really Pay Back Its Loan

By: mikerazar

mikerazar — Sat, 24 Apr 2010 14:49:35 +0000

When we pay our FICA to the Treasury, benefits are paid by the Treasury to the useless old people who haven’t yet been dealt with by a death panel. The excess is “deposited” in the Trust Fund.

So, the so called Trust Fund “holds” some bonds. Those bonds say that the Treasury owes the trust Fund a few trillion dollars. When the trust fund needs money it sells those bonds (perhaps to the Treasury but it doesn’t matter) to raise cash.

By some mechanism when the “excess” becomes a deficiency, money from “selling” the bonds must make its way back to the Treasury to pay the benefits.

Wait! I have it backwards. I thought we pay our FICA to Treasury. Actually, we pay it directly to the Trust Fund, which sends cash to beneficiaries and uses the excess to “buy” bonds from Treasury. So qixlqati is right. Those bonds cause Treasury to “owe” cash to the “Trust Fund”.

So it boils down to whether you think SS checks come from Treasury or from the (giggle) Trust Fund. I still see no difference.

Funny money is always a pleasure to play with. When you lend money to yourself, who is the debtor and who is the creditor? I nominate Bernie Madoff to sort it out.

By: harvey

harvey — Sat, 24 Apr 2010 10:47:19 +0000

Ford cant complain about Cherovlets habit of sucking of the taxpayers tete,they are to busy promoteing the homosexual lifestyle.They have caved in to these siskening fools.
I hare driven Fords all my life but i will never buy another Ford or Cheverolet.

Today the chief executive officer of Cheverolet came on televison and said that G.M.had paid back the taxpayers, LIE

From now on i will nor buy either of these companys product

By: TNJim

TNJim — Sat, 24 Apr 2010 05:16:54 +0000

I do have a bit of inside info on this. While the now defunct NUMMI plant in California was union the other Toyota plants in North America are not. As far as I know, neither is Nissan nor Honda American plants.

Get your facts straight before you post, please.

By: Richard Mullins

Richard Mullins — Sat, 24 Apr 2010 03:37:55 +0000

It’s a different story in Japan though. Are you a moby or plant sent here to spy on us. I’ve hoping to kill the UAW for auto making and start over.

By: soljerblue

soljerblue — Sat, 24 Apr 2010 03:28:57 +0000

correct!

By: soljerblue

soljerblue — Sat, 24 Apr 2010 03:26:04 +0000

2k model, 155,800 miles on it this afternoon…only ever has needed regular service, oil changes, new tires. AWESOME vehicle…who cares what Congress thinks of the company. They carry the UAW’s water anyway.

By: soljerblue

soljerblue — Sat, 24 Apr 2010 03:23:25 +0000

all assembled in Alabama by US citizens — and the UAW hasn’t been able to snare them yet so far as I know.

By: qixlqatl

qixlqatl — Sat, 24 Apr 2010 03:13:00 +0000

it’s the fed. govt. that owes the SS trust fund. Pretty sure that’s what you meant, and most people understood.

By: jeffreywturner

jeffreywturner — Fri, 23 Apr 2010 22:38:15 +0000

Why do you think the German and Japanese automakers always choose to build in the South when they open plants in the US? Very simple, even if they don’t say so openly, they are intentionally AVOIDING the unions by opening up shop in anti-union (ie: right-to-work) states.

By: pilotguy40

pilotguy40 — Fri, 23 Apr 2010 17:43:58 +0000

Its a good place to be from… One of my better choices in life. Now I work for a company that makes NOTHING. They just help people get stuff from China. UPS…

By: romeg

romeg — Fri, 23 Apr 2010 17:30:45 +0000

The Dem’s favorite tool: The Boycott. What a perfect way to punish the UAW for it avaricious treatment of GM’s customers.

By: demooresr

demooresr — Fri, 23 Apr 2010 16:08:07 +0000

All cars built in America are UNION MADE even those Japanese cars made here

By: uselogic

uselogic — Fri, 23 Apr 2010 16:05:45 +0000

… money you spend on a Ford helps fund the Ford Foundation. It is the largest single supporter of left wing, progressive causes. Well, except for the federal government.

By: demooresr

demooresr — Fri, 23 Apr 2010 16:04:06 +0000

WHAT vehicle assembled in the USA is not UAW controled ?

By: chabsentia

chabsentia — Fri, 23 Apr 2010 15:32:26 +0000

First of all , Chrylser has not been a public corporation for some time. It was owned by a private equity firm by the name of Cerebus. Check it out. So the taxpayers bailed out a private equity firm which had refused to inject any more money into it. It was a bailout for the U.A.W. just as it was for General Motor. Ford did not take any money and refused it and had prospered. General Motors is still bleeding money from deficits and the media and this administration go along with this scam and there are a large number of gullible people who believe it.

By: jeffreywturner

jeffreywturner — Fri, 23 Apr 2010 14:29:30 +0000

Mainly, because I think the success of Ford at the cost of GM & Chrysler will lead to the eventual destruction of the UAW.

Think about it, the only reason the UAW was able to survive was through the bail-out, because in a regular bankruptcy, they would have gotten next to nothing just like the creditors did. Also, unemployed workers don’t pay union dues.

So, going forward, if the non-bail-out Ford succeeds while the bailed-out Chrysler and GM fail, then political pressure will lead to an end of the bail-outs, so GM & Chrysler will fold. Then, the only US automaker will be Ford, and they will essentially be able to dictate terms to the UAW, because what are they gonna do if they go on strike from Ford – go work for the non-existent other US automakers? This loss of any meaningful negotiating power will make the UAW irrelevant and lead to their demise as the works see their union dues going for nothing.

By: gatorbob

gatorbob — Fri, 23 Apr 2010 14:14:16 +0000

The way Libs do a few other things is …….
Ignore it whenever Libs do something that is obviously anti-American and/or
so obviously stupid

Whenever they cannot respond intelligently to a honest accusation by Conservatives in a debate… simply do the following…..talk over the Conservatives like a rude Child….use the Racist Card….always say everything that obuma has failed to do anything about or did the wrong thing just say …”well that occurred before obuma was in office”…..

I don’t remember him saying anything during his Campaign about the fact that he could not fix anything that he could falsely blame on the prior Administration……it just gets more and more ridiculous…..GatorBob

By: southernilpat

southernilpat — Fri, 23 Apr 2010 14:13:15 +0000

The myth of GM repaid it’s bailout loan can be added to the myth of Clinton balanced the federal budget. And the same idiots will believe it.

By: erp617

erp617 — Fri, 23 Apr 2010 13:40:45 +0000

Ford still does business with UAW. No Ford in my future either. I swore I wouldn’t buy a Japanese car, but when my two old cars are no longer fixable, I’ll look for a car made by non-union workers no matter who owns the company.

By: michiganwolverine

michiganwolverine — Fri, 23 Apr 2010 12:32:34 +0000

As I was watching Foxnews last night, I saw a GM commercial where they specifically stated that they had paid back the money. What a fraud.

It will be interesting to note who takes this on.

Sorry, but I would not buy a GM car if you paid me too.

Ford would be my choice.