Here's a little glimpse into your future under government run Obamacare.
December 2008: President Bush announced a rescue plan for General Motors and Chrysler LLC Friday morning that will make $13.4 billion in federal loans available almost immediately.
The money will come from the $700 billion fund set aside to bail out Wall Street firms and banks in October.
With these loans, Treasury will have committed virtually all of the $350 billion of that fund that it can hand out without additional authorization from Congress. Once Congress releases the other $350 billion, the two automakers will be able to borrow an additional $4 billion. [CNN]
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President Obama, speaking at a GM plant in Lordstown, Ohio, September 15, 2009: “That program was good for automakers, consumers, and our environment,” Obama said of the Cash for Clunkers programs, “and the Chevy Cobalt that you build here was one of GM’s most sought-after cars under that program. Dealers across the country started running out of it and needed you to build more.” [National Review]
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"General Motors late Friday expanded its ignition switch recall to cover 824,000 newer models of the same cars in the U.S., and 970,700 worldwide.
GM says it now will replace the ignition switch in all model years of its Chevrolet Cobalt, HHR, Pontiac G5, Solstice and Saturn Ion and Sky. Until now the recall covered only cars through the 2007 model year." [USA Today]
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