President B.A. Barackus To Bitch Slap Detroit

Oh my.

President Sunshine is pissed the fuck off.

And, more than likely,he is a secret liberal Buddhist Caliph.

From Politico:


President Barack Obama announced an extraordinary bid to remake the ailing U.S. auto industry Monday, saying he would withhold long-term federal aid to two carmakers unless they make sweeping changes to ensure their survival.

In blunt terms, Obama said his vision for reshaping GM and Chrysler would be painful to the companies and their workers, but insisted the strong medicine was the only course to saving them – while also leaving open the possibility they could fail.

And he spoke directly to auto workers and communities who rely on the plants, saying, “I will not pretend the tough times are over. I cannot promise you there isn’t more pain to come. But what I can promise you is this – I will fight for you. You are the reason I am here today.”

“These efforts, as essential as they are, will not make everything better overnight. There are jobs that cannot be saved. There are plants that will not reopen. . . .”

...In the case of GM, Obama sought the resignation of CEO Rick Wagoner, and Wagoner complied by stepping aside. Obama gave GM 60 days to restructure and sounded optimistic the company could.

In the case of Chrysler, Obama was much more pessimistic – giving them only 30 days to cut a merger deal with Italian automaker Fiat. If they merged, he offered $6 billion in new loans. If they don’t, Obama said they would get no more federal aid – and likely be forced into bankruptcy.

“Year after year, decade after decade, we have seen problems papered-over and tough choices kicked down the road, even as foreign competitors outpaced us. Well, we have reached the end of that road,” Obama said. “And we, as a nation, cannot afford to shirk responsibility any longer. Now is the time to confront our problems head-on and do what’s necessary to solve them,” Obama said.