On Friday, President Barack Obama has once again taken credit for saving the American auto industry, when he praised Chrysler for paying back their auto bailout loans. The President visited the Jeep plant in Toledo, OH on Friday where he addressed the workers and some guests.
The President stated:
"We decided to help it retool for a new age, and that's what we're doing all across the country Â— we're making sure America can outbuild, out-innovate and outcompete the rest of the world." - North Jersey News 6/5/11
It is interesting the President takes credit for the resurgence in the auto industry and fails to mention that one reason in the increase in US auto sales has to do with the same reason he uses for the slow recovery in the economy, that being the Japanese earthquake. The Japanese auto companies had to shut down several of their plants and were unable to supply their dealers with vehicles, causing a distortion of the numbers.
Barack Obama also chose an interesting venue to talk about his success, the plant which makes Jeep Wranglers. Why is this interesting? The record sales of these vehicles are proof against the administrations claims that "People want fuel-efficient cars." According to the official Jeep website, the Wrangler is only rated at 15 city and 19 highway by the EPA, hardly what some consider fuel-efficient. And he keeps insisting that he is helping an American auto company while mentioning how he was instrumental in negotiating the deal which allowed the Italian company Fiat to buy the company.
He also fails to mention that many shareholders of these companies lost out on the stocks they owned when the government took over these companies, making their shares almost worthless. Nor does he mention his deal with the UAW, which many argue was at the cost of these shareholders.
But we can let the "savior" of the auto industry take a bow and "spike the football" if it makes him feel good. When the glow subsides, as it already has, and people realize the economy is still failing, the employment situation is not improving and his stimulus plan has failed, Americans will see Obama as he truly is, not the "Messiah" but only a "False Prophet".