Obama hears it from Jeep employees after underestimating Wrangler

[Im Not Spam]

Filed under: SUV, Jeep, Off-Road

Obama talks to Jeep workers in Toledo, Ohio - Click above to view video after the jump​

The Jeep Wrangler is renowned for its off-road capabilities. With recent updates, it has evolved from a slightly crude utilitarian workhorse, to a utilitarian workhorse with a long list of comfort options. To say the workers in Toledo, Ohio who assemble the trucks are proud of what they do is an understatement. They're fanatical about their work.

So, when President Obama jokingly questioned the Wrangler's capabilities this week, some workers didn't laugh. The President was in Toledo to take credit for Chrysler repaying money owed to the federal government for the bailout. During his speech, he said Chrysler had faced bumps in the road that even a Wrangler couldn't drive over. Jeep workers immediately voiced their consternation, and the president defused the situation with a joke. To see excerpts of Obama's Chrysler appearance, check out the video after the jump.Continue reading Obama hears it from Jeep employees after underestimating Wrangler

Obama hears it from Jeep employees after underestimating Wrangler originally appeared on Autoblog on Sun, 05 Jun 2011 16:03:00 EST. Please see our terms for use of feeds.



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[LongHorn]

As usual our "Community Organizer & Chief" is obfuscating the truth.

From the Washington Examiner June 3, 2011

President Obama told a Chrysler plant in Toledo, Ohio, today:
“Chrysler has repaid every dime and more of what it owes the American taxpayer from the investment we made during my watch.”

That is just not true. Here is the math.

Chrysler received the following loans from the federal government:

January 2009: Chrysler receives $4 billion loan from TARP

January 2009: Chrysler financial receives $1.5 billion from the Treasury Department

May 2009: Chrysler receives a $1.9 billion debtor in possession loan from the Treasury Department

June 2009: Chrysler receives a $6.6 billion loan from the Treasury Department

Total loaned to Chrysler: $14 billion

Chrysler made the following payments to the federal government:

May 2010: Chrysler pays the Treasury Department $1.9 billion to settle their January 2009 loan.

May 2011: Chrysler pays the Treasury Department $5.1 billion as partial settlement for June 2009 loan.

June 2011: Chrysler pays the Treasury Department $560 million to settle the rest of the June 2009 loan.

Total paid back by Chrysler: $7.56 billion

Total loss to taxpayers ($14 billion – $7.56 billion) = $6.44 billion.

I guess that Barry must be using the "New" math.