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Obama Car Czar Way Off Message On Auto Bailout And Stimulus

RNC Communications - December 14, 2011

Two interesting items to note from former Obama car czar Steven Rattner’s guest hosting duties this morning on CNBC’s Squawk Box:

1) When asked by host Andrew Ross Sorkin if the taxpayers are ever going to be paid back for bailing out General Motors, Rattner responded in a matter of fact tone: “No. But we never said that the taxpayer was going to get paid back.”

That’s a remarkable contrast from what his old boss President Obama said in very clear terms just last year: “We are going to get back all the money that we invested in those car companies.”

2) Rattner seems particularly proud of his role in the auto bailout, so much that he even bragged that the auto bailout was a better plan than Obama’s $825 billion stimulus. Not sure the White House is going to be happy about having their former car czar publicly bash Obama’s key economic policy of his term.

Former Obama Car Czar Steven Rattner Says Taxpayers Were Never Going To Get Paid Back And That His Auto Bailout Was More Effective Than Obama’s Stimulus:

CNBC’s Andrew Ross Sorkin: “Our guest host has been Steven Rattner. And we’ve got a couple of moments to get some final thoughts from you. I did want to go back, because I know Rick did mention the idea of General Motors and I wanted to get a sense from you. Do you think the taxpayer is ultimately going to get paid back on GM?”

Steven Rattner:  “No. But we never said the taxpayer was going to get paid back. We put $82 billion into the car industry as a whole. We will get back all but 14 billion, plus or minus, of it. But, in return for that, we saved 2 million jobs in the Midwest and two great American companies. And you compare that to the $875 billion stimulus program where the trillions of dollars of QE 1, 2, 3, I think the taxpayers got a good deal.” (CNBC’s “Squawk Box,” 12/14/11)

FLASHBACK: Obama Said Taxpayers Would Get Their Money Back On Auto Bailouts:

President Obama Said, "We Are Going To Get Back All The Money That We Invested In Those Car Companies."(ABC’s, “The View,” 7/28/10)


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