While Obama continues along the campaign trail praising himself for the auto bailout, “Coming hot on the heels of speculation that some Jeep production may be moved to China comes a bombshell from a Bloomberg report. Fiat is now considering moving Chrysler and Jeep production to Italy.”
Update: The hilariously named “politifact.com” announced that its “Lie of the Year” was Mitt Romney’s campaign statement that Jeep was moving its U.S. production to China. Well, now it’s been confirmed: “Fiat… and its U.S. unit Chrysler expect to roll out at least 100,000 Jeeps in China when production starts in 2014.”
Obama, referring to TARP (the financial bailout program), says “We got back every dime we used to rescue the financial system.”
The Congressional Budget Office– on the SAME DAY that Obama was quoted– used numbers from Obama’s own Office of Management and Budget to conclude that the federal government will actually lose $24 billion.