Team Obama's government auto mechanics also ignored the economic impact of rushing those closures. According to Barofsky, they discounted counter-testimony from industry officials that "closing dealerships in an environment already disrupted by the recession could result in an even greater crisis in sales."
The inspector general also noted that, "it is clear that tens of thousands of dealership jobs were immediately put in jeopardy as a result of the terminations by GM and Chrysler."
After extensive investigation, the watchdog concluded that, "the acceleration of dealership closings was not done with any explicit cost savings to the manufacturers in mind." Only after Capitol Hill critics - both Republican and Democrat - started questioning the Dealergate decisions did Obama's auto "experts" come up with market studies and estimated job loss data to assess the impact of their reckless, arbitrary orders.
In sum, the inspector general found:
"(A)t a time when the country was experiencing the worst economic downturn in generations and the government was asking its taxpayers to support a $787 billion stimulus package designed primarily to preserve jobs, Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls - all based on a theory and without sufficient consideration of the decisions' broader economic impact."
Read more at the Washington Examiner: http://www.washingtonexaminer.com/op...#ixzz0uRBjSmLk
The inspector general also noted that, "it is clear that tens of thousands of dealership jobs were immediately put in jeopardy as a result of the terminations by GM and Chrysler."
After extensive investigation, the watchdog concluded that, "the acceleration of dealership closings was not done with any explicit cost savings to the manufacturers in mind." Only after Capitol Hill critics - both Republican and Democrat - started questioning the Dealergate decisions did Obama's auto "experts" come up with market studies and estimated job loss data to assess the impact of their reckless, arbitrary orders.
In sum, the inspector general found:
"(A)t a time when the country was experiencing the worst economic downturn in generations and the government was asking its taxpayers to support a $787 billion stimulus package designed primarily to preserve jobs, Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls - all based on a theory and without sufficient consideration of the decisions' broader economic impact."
Read more at the Washington Examiner: http://www.washingtonexaminer.com/op...#ixzz0uRBjSmLk
It's a lie!!! It can't be!!! Obama is the savior!!!!!
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