Wool pulled over eyes

I believe taxpayers have been hoodwinked by the Democrats for political gain. Remember the 2012 Democratic convention that proclaimed Osama bin Laden is dead and General Motors is alive?

Okay, fine, until you start looking beneath the surface.

1. Bin Laden is dead, but al-Qaida is still alive, blowing up people in Afghanistan and Iraq. Don’t forget Benghazi. It seems Barack Obama was so anxious to take credit for bin Laden’s death that he compromised security by revealing details of the raid.

2. The U.S. Treasury has finally sold the last of its GM stock it acquired in the GM bailout. This reportedly brings the Treasury’s recovery to $39.4 billion of the total $49.5 billion given to GM, leaving taxpayers about $10 billion short on the investment. GM also has just announced a $26.8 billion “cash pile” for attracting better management and possibly paying stock dividends. No mention of the loss it left the taxpayers.

I believe it is false to leave the impression that GM would have been forced into liquidation without the bailout, with millions of jobs lost. That’s nonsense. Bankruptcy allows restructuring of debts and employee contracts and the business can begin to operate more efficiently. Think Ford, operating through the “financial crisis” without a bailout.

So what did the government get for its multibillion-dollar program? From GM, a $10 billion loss to the taxpayers and some political talking points. That’s why I buy Ford cars.

CLARENCE RICHMOND Searcy