Obama Says He Does Not Want to Run the Auto Industry Even as He Dictates it's Future - Video 3/30/09

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Here is video of President Barack Obama today laying out his plans for the future of U.S. Auto Industry. Obama announced that he has given deadlines to both GM and Chrysler to present new working plans for their futures. Obama said plans already submitted were not sufficient. He used the "B" word, Bankruptcy, as the course that may need to be taken to help GM shed it's debt load and be able to restructure quickly. Obama also said Chrysler is in worse condition, so bad in fact, it will need a "partner" to be able to continue. He named car maker Fiat at the likely partner.

What was humorous about the whole thing is that Obama spends all this time in the video dictating the future of the Auto Industry, even announcing that the GM CEO is out, but actually said with a straight face that the Federal Government has no desire to "run the Auto Industry." But in reality, that is exactly what they are now doing. Bureaucrats and lifetime politicians like Obama are now making the decisions as to who runs companies like GM and will even seek to dictate what kind of cars they will build in the future. Obama also said the Federal Government will stand behind all GM and Chrysler warranties.