How is Obamanomics like a Hoover upright?

It sucks! OK, it is not the most creative work I ever did but, Hot Air has the red meat!

Last year, while the Obama administration seized two of the nation’s three main domestic auto manufacturers, it also shut down thousands of dealerships across the country, supposedly to stabilize GM and Chrysler.  A new report from Neil Barofsky, the Inspector General of the TARP program, calls into question that decision.  In a sharp rebuke to the White House, Barofsky says that the action needlessly cost tens of thousands of jobs and extended an already-disastrous downturn in employment:

President Obama’s auto task force pressed General Motors and Chrysler to close scores of dealerships without adequately considering the jobs that would be lost or having a firm idea of the cost savings that would be achieved, an audit of the process has concluded.

The report by Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program of the Treasury Department, said both carmakers needed to shut down some underperforming dealerships. But it questioned whether the cuts should have been made so quickly, particularly during a recession. The report, released on Sunday, estimated that tens of thousands of jobs were lost as a result.

“It is not at all clear that the greatly accelerated pace of the dealership closings during one of the most severe economic downturns in our nation’s history was either necessary for the sake of the companies’ economic survival or prudent for the sake of the nation’s economic recovery,” the report said.

Read the whole thing, as Ed Morrissey lays out some vaulable information about the incompetence of Obama’s Car Czar Steve Rattner

This doesn’t come as any great shock.  Barack Obama put Steve Rattner in charge of running his auto bailout program, a man who had just as much experience in the auto industry as Obama did: he drove a few cars.  Rattner had to make a quick exit after just a few months when it became known that he was the target of a federal probe into questionable activities regarding the New York pension fund — and his replacement had just as much experience in the auto industry as Rattner did.

I suppose Ed and I will be called raaaacist now, for pointing to further evidence that Obama is, an empty suit.

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