Bob Lutz is a good man.  A Swiss-born immigrant American success story.

He’s held big gigs at BMW and Ford.  He also worked way up the food chain at (now $85 billion bailed-out) Chrysler and General Motors (GM) – retiring as GM’s Vice Chairman in 2010.

And he has recently written a piece:

Chevy Volt And The Wrong-Headed Right

…in vociferous defense of the Chevy Volt.

You know, the more-than-$200,000 in government-subsidies-per-unit-sold Volt.

The overproduced, unprofitable, unpopular, combustible Volt.  (And January 2011’s sales were no less disappointing.)

That Chevy Volt.

Are we on the Right wrong-headed?  Let’s take Mr. Lutz’s piece piecemeal and see.

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How much bailing out does one company need? After receiving some $50 billion in tax dollars from us courtesy of Obama’s “cash stash,” GM is claiming success with a “big profit” with last year’s third quarter report, and in his recent State of the Union Speech, President Obama claimed that GM was “back on top as the world’s number one automaker.” But true or not, if all is coming up roses for GM, why is the company now lobbying the individual states for mini bailouts?

That is exactly what is happening. The new “big success” automaker is spending millions hiring lobbyists to squeeze more millions out of state legislatures. As Justin Owen notes, GM has “turned to another, smaller government teat” by putting its hand out to the states. GM, Owen says, “has received another $1.7 billion in taxpayer-funded grants and tax abatements.”

This is no accident of timing, either. GM admitted to the Tennessee Watchdog that begging to the states for tax dollars is a concerted effort.

“We are increasing our activity with the states obviously, in the communities in which we operate. In doing this, we’ve invested more than $6 billion (throughout the states) during the last five years and brought 15,000 people back to work. So, the activity at the state level is important to us. Our lobbying is comparable to what our competitors are doing throughout the states,” said GM spokesman Greg Martin.

For the Watchdog, Christopher Butler found that GM has received more than $1.5 billion from Michigan, $7.5 million in tax incentives from Kentucky, over $10 million from Texas, and over $2 million from Indiana. Ohio and Maryland have given to the GM bailout fund, too, with tax incentives and other giveaways. (more…)

I attended Wednesday’s 8:00am (8am?!?) House Oversight and Government Reform Committee hearing entitled:

Volt Vehicle Fire: What Did NHTSA Know And When Did They Know It?

The witnesses were killer:

National Highway Transportation Safety Administration (NHTSA), Barack Obama-appointee Administrator David Strickland.

And General Motors (GM), Barack Obama-appointee CEO Dan Akerson.

The scope of the hearing was a bit too narrow – leaving out some fairly important attending facts.  Like, say, the (at least) five other Chevy Volt fires that have occurred besides the one being discussed.

This hearing was all about a single June Volt blaze.  The battery burst into flames about three weeks after a test crash at and by the National Highway Transportation Safety Administration (NHTSA).

A fire about which Obama’s NHTSA did tell the Obama White House.

But a fire about which neither Obama’s NHTSA, the Obama Administration nor Obama’s GM told the American people for nearly six months – and then did so only when forced by a looming Bloomberg news story.

But:

The White House had no role in the decision to delay disclosure of a fire that broke out in a crash-tested Chevrolet Volt, the Obama administration told Congress on Friday.

Of COURSE not.

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President Barack Obama is in full 2012 reelection mode.  Part of that process is preparing to possibly take on Mitt Romney – whom (it appears) he thinks has the strongest chance to be his Republican opponent.  Which he and many Democrats think is very good news.

Romney fits right into the Left’s absurd anti-capitalism, “robber baron,” Occupy Wall Street anti-1%-er, scorched earth storyline.

Romney is very wealthy, which for Obama and his Democrats is the height of eee-vill (except – these Donkeys are mostly rich…).  Never mind that Romney’s wealth is right in line with many past Presidents and candidates – including 2004 Democrat nominee John Kerry.  (The difference?  Romney earned it, Kerry married it.)

And as Romney recently told us, he these days pays the 15% capital gains tax rate – rather than the (absurdly) higher income tax rates those of us receiving salaries do.  Never mind that this is perfectly legal (and good fiscal policy, and “fair”) – it is culled right from the Leftist, Warren Buffett “I pay less in taxes than my secretary” fraudulent script.

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How did Romney make his coin?  Via the epitome of eeeee-villll free market entities – the venture capital firm.  His was, of course, Bain Capital.

Yes, Bain sometimes invests in failing companies.  Some of which they determine to be not worth saving, so down they go.  Welcome to Reality, Boys and Girls.

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What’s an absurd Leftist policy without an agitprop song to accompany the inanity?

The attempted spoonful-of-sugar to help force down the bad Progressive medicine they are pushing.

Which brings us to General Motors (GM) and one of the Leftist ideological windmills at which they tilt – the Chevy Volt.

We the Taxpayers have spent billions subsidizing the Volt.  And continue subsidizing it still.

We bailed out GM ($50 billion) and Chrysler to the tune of $83 billion.  On which the Obama Administration now admits we’ll lose (at least) $23.6 billion.  (President Obama once upon a time promised us we’d actually make money on the deal.)

We the Taxpayers are still stuck holding 500 million shares of GM stock – on which we are poised to lose tens of billions of dollars more.

But you know what makes all of this terrible-ness so much less worse?  GM spent some of our money on – the Chevy Volt official song and music video:

Don’t you feel better?

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What’s a Barack Obama Administration multi-billion dollar boondoggle without a Czar to oversee it?

For the automobile industry bailout, the Lord Overseer was Car Czar Steven Rattner.

This is the same Steven Rattner who late last year reportedly paid a $6.2 million Securities and Exchange Commission (SEC) fine and accepted a two-year ban from associating with broker-dealers or investment advisers.  For an alleged “pay-to-play” New York state pension fund kickbacks scheme he orchestrated after leaving Washington and his Czar-ship.

DC-Wall Street nexis, anyone?  Crony Socialism, anyone?

His current gig – besides being a (shocker) MSNBC Morning Joe “Economic Analyst”?  Managing New York Mayor – and 1%-er billionaire – Michael Bloomberg’s personal and philanthropic assets.

DC-Wall Street nexis, anyone?  Crony Socialism, anyone?

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If we judge Barack Obama by his own promises, we must conclude that he has failed miserably. After all, it was he—not others in his stead—who spent the 2008 campaign promising to “provide care for the sick and good jobs for the jobless,” blah, blah, blah. It was he who used rhetoric so far removed from reality that some people actually thought Obama’s election would mark the end of every conceivable worry a human could possess. People grounded in reality knew this wasn’t true, but many among us who were already accustomed to living off the mercy of the government were easily fooled.

Think about it this way:

What good has Obama’s stimulus package done? Our national unemployment is ranging between 8.6 & 9.1%, and it only appears that low because those keeping tabs on it stopped counting people who have given up on ever finding jobs. Moreover, because of the Democrat’s tax and spend approach, our national debt is now at $15, 182,756,264,288.80, and Obama’s plan to change this is “more EPA, more NLRB, more Dodd-Frank, and more Obamacare.”

As Larry Kudlow put it: “Obama’s economic policies have failed.”

And if you want a microcosm of Obama’s failed presidency, of his ridiculous approach to economic policy, look no further than the Chevy Volt. The sticker price on a Volt is $40,000, but the cars are so technologically challenged that each one is subsidized to the tune of approximately $250,000. Now that’s Obama-nomics in a nutshell: Brag about your car company’s $40,000 electric car, but never mention that the $40,000 price tag costs tax payers a quarter of a million dollars per car.

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From the Associated Press:

General Motors will buy Chevrolet Volts back from any owner who is afraid the electric cars will catch fire, the company’s CEO said Thursday.

In an exclusive interview with The Associated Press, CEO Dan Akerson insisted that the cars are safe, but said the company will purchase the Volts because it wants to keep customers happy. Three fires have broken out in Volts after side-impact crash tests done by the federal government.

Akerson said that if necessary, GM will recall the more than 6,000 Volts now on the road in the U.S. and repair them once the company and federal safety regulators figure out what caused the fires.

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Government Motors has finally found its hottest car and the Chevy Volt is it. Unfortunately for Chevy, it isn’t because it is popular. It’s because the car seems to catch on fire a lot. Industry watchers are preparing for the Volt to undergo a recall to fix whatever problem the car’s lithium-ion battery pack has that seems to be causing the vehicles to spontaneously burst into flames.

Of course, this little catching on fire problem seems emblematic with everything about Government Motors. After President Barack Obama pumped $53 billion of our tax dollars into bailing out GM all we’ve gotten out of the deal so far is a stock tumble from $53 a share to under $25 (a $15 billion loss) and a badly selling “green” car that catches on fire every time you turn around. Such a deal.

As to the burning issue of the day, the Associated Press notes that an “investigation” has begun by the National Highway Traffic Safety Administration to determine why the cars are catching fire.

One Volt battery pack that was being closely monitored following a government crash test caught fire Thursday, the safety administration said in a statement. Another recently crash-tested battery emitted smoke and sparks, the statement said.

For its part, GM claims the cars are perfectly “safe.” Well, except for that whole catching on fire business, I suppose.

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We have oft spoken of how ridiculous Government General Motors (GM) has continued to become since receiving $50 billion of our bailout money.

And of the Barack Obama Administration’s puffing up for political and campaign purposes GM’s alleged “recovery” from its bankruptcy.

(A bankruptcy, by the way, that could have just as easily transpired without our $50 billion.  But I digress….)

It’s not really much of a recovery when one considers the fact that GM’s thus far $7.4 billion in 2011 profits is greatly fostered and augmented by the Obama Administration’s years-on-end GM federal tax exemption.

A Crony Socialist boon to the tune of as much as $45.4 billion.

(How’s that for federal deficit reduction?  Is absolutely nothing at all GM’s “fair share?”)

GM’s is an even less impressive “recovery” when we remember that We the People still own just over 500 million shares of GM stock.  On which to break even we need to sell at $53 per – and it is currently trading at around $23.

Which sets up We the Taxpayers for a more than $15 billion loss.

Not quite the GM “success” President Obama is repeatedly touting on the Trail to 2012.

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The Barack Obama Administration has been absolutely atrocious in signing off on terrible legislation and policy prescriptions.

ObamaCare.  The $878 billion alleged “stimulus.” The $30 billion bump (to $50 billion) of the General Motors bailout.  Cash for Clunkers.  Cash for Caulkers.  Dodd-Frank.  Lilly Ledbetter.  And on, and on, and on…

Then there’s the stuff the Obama Administration tried–and failed–to rush through the Donkey Congress (2009-2011).  But because these things were also so heinous and because the Administration and Congressional Democrats had already reached their Heinous Maximus quotient, they were unable to pile them on We the People. There was Cap and Trade.  And Card Check.  And Net Neutrality.  And…

Being stopped in Congress didn’t stop the Administration.  It didn’t even slow them down.  As President Obama said, there’s more than one way to skin these cats. These ways aren’t Constitutional.  They are, in fact, dictatorial.  But this from all appearances doesn’t bother Obama a whit. He is using his every Department, Commission, Agency and Board to jam through these terrible ideas–and more–via executive branch regulatory fiat. All of this goes a very long way towards explaining why we remain mired in plus-9% unemployment and less-than-1% economic growth.

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The White House has denied pressuring Ford to pull its ad that criticizes competitors that took and have yet to repay taxpayer dollars from the Troubled Asset Relief Program. However, the Obama administration can’t deny a new gift it showers on General Motors and Chrysler in its package of tax hikes to pay for its so-called American Jobs Act.

For all the talk about fairness and equity with the so-called Buffett Rule, there is one sneaky loophole in the Obama revenue proposal that has largely escaped notice. In doublespeak that would make even George Orwell do a doubletake, President Obama’s “financial crisis responsibility fee” would tax banks, insurance companies and brokerage houses that have paid back their bailout money — and even some firms that never took a bailout — to pay the tab of irresponsible firms, namely the auto companies that still owe the government billions.

“We also ask the largest financial firms — companies saved by tax dollars during the financial crisis — to repay the American people for every dime that we spent,” President Obama proclaimed in the Rose Garden two weeks ago. But the details of this “responsibility fee” in the 80-page plan the president submitted to the Joint Committee on Taxation makes it clear that this fee will only be on firms that have already repaid the TARP funds and likely on some firms who never took a dime of taxpayer money.

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There has been news aplenty about the Solyndra solar power company.

The chock-full-of-Barack-Obama-Administration-cronies-and-donors corporation that received more than half a billion dollars in government-guaranteed loans to build the alleged future of energy.

Which President Obama hailed as such after the government-backed checks had cleared.

Which turned out to be totally untrue, and Solyndra’s solar folly an abject failure.  In fact, a bankrupt one.

Which anyone who knows anything at all about “green” energy knew would be the result long before it was even a glint in Obama’s Crony Socialist eye.

(This is Crony Socialism.  It has very little to do with – and is even less successful than – Crony Capitalism.)

And as it turns out, the those-in-the-know included the Obama Administration.  Who were repeatedly warned that the company was in hay-yuge trouble before the first check was cut, but pushed through the loan guarantees anyway.

And now the Federal Bureau of Investigation (FBI) has raided the joint, walking out with boxes and boxes of documents.  (We don’t yet know if this is the beginnings of a real inquiry, or a Clinton-esque move where the paperwork vanishes, only to turn up years from now in the White House residence wing.)

Was the Administration so hurriedly adamant – despite all the evidence screaming “Stop” – because of the company’s Obama cronies and their campaign cash?

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You’ve heard the expression “building on success.”

Where you identify something that’s working – and work to maximize and further broaden its fruition.  In large part by determining what’s working – and seeking to replicate it.

The Left has always remained blissfully unfamiliar with this concept.

Probably at least in part because they are perpetually too busy building instead on failure.

Take the Barack Obama Administration and their D.C. Leftist cohorts.

They in 2009 spent nearly $1 trillion on an alleged economic stimulus.  Which would, we were told, keep unemployment below 8%.

Oops.

That having failed miserably, the D.C. Leftists built upon their failure by spending more “stimulus” coin on Cash for Clunkers, Cash for Caulkers and a whole host of other pitifully failed attempts at publicly invigorating the private sector.

Oops.

Building on failure.

We all now anxiously await September’s latest-in-a-long-line of famous President Obama problem-solving speeches.  In which, we are told, he will focus like a laser on creating the jobs they have thus far failed miserably at creating with their top-down, centrally-planned borrowing and spending.

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Every time we turn around these days President Obama is touting the idea that the “future” of America lies in green energy and one of those greenie ideas is an Obama favorite: electric cars. Not to let him down, Government Motors has obliged by pushing the Chevy Volt as the car of the future. But thus far the future looks a lot like GM’s present; a whole lot of failure leaving a whole lot of questions.

While Obama continues to tout his — meaning our — investment in GM others are not so sanguine. For instance, billionaire Warren Buffet has invested in a Chinese electric car company instead of putting his considerable investment acumen to use with the Chevy Volt. Buffet may be a dolt on taxes, but apparently his investing senses haven’t gotten any spark from the Volt.

One of the reasons that Buffet went for the Chinese company is that some of its technology seems superior to various systems of the Chevy Volt. According to Forbes, Buffet has targeted the company because the, “car can travel 186 miles, more than the Nissan Leaf and Chevy Volt, on a single charge with a top speed of 87 miles per hour.”

Naturally, sales of the Chevy Volt are dismal and have been for quite some time. Sadly, some reviewers are saying that the Volt is overly flashy and techy and isn’t a good value for the money, so no help for GMs sales record there.

Even lefty profs at Berkeley could see that the Volt was a horrible investment. Berkeley physicist Leon J. Schipper, for one, was not enamored of the Volt.

Analyzing the Chevy Volt, the new sedan that is supposed to go 40 miles on batteries and then use a gasoline engine, he calculated that because of inefficiencies in electricity generation, its fuel economy was no better than a Toyota Prius hybrid running on gasoline, while its price was roughly double that of the Prius.

“Does the extra $20,000 justify the overall fuel and possible carbon dioxide savings?” he asked. “If two drivers switched to Prius, the overall savings of oil likely would be larger than one driver switching to a Volt, for the same money.”

So, why should the American people sit idly by while GM pumps even more money into the Volt, a car consumers don’t want? Maybe because wealthy environmental activists think it’s wonderful and seem to imagine that sales will grow up from the ground as if by magic.

Great, isn’t it?

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The transformation of General Motors (GM) to Government Motors (GM) has cost a lot of Americans a lot of money.

Many, many of them under questionable and in fact illegal circumstances.

Let us begin with the $50 billion ‘We the People’ were forced to “invest” in General Motors – including a $30 billion Barack Obama bump so as to give his Administration greater sway in how things would subsequently go down.

We were originally told – by Obama himself – that we would make money on the bailout.  Now we’re told we’ll lose somewhere between $11 and $14 billion (and given the stock price’s long, slow slide, maybe even more).

And about which we were lied to by the Administration.  Which said this titanic loss of coin is less than they were expecting – just seven months after Obama his own self said we’d turn a profit.

Then there was the 2009 GM bankruptcy filing (which we were told our $50 billion would forestall – oops).

Through which the Obama Administration’s new toy car company eviscerated existing law to benefit their union, campaign-funding cronies at the illegal expense of GM bond holders – who should have by law received preferred treatment.

The ripped off didn’t take too kindly to being the Administration’s latest dupes:

We believe the offer to be a blatant disregard of fairness for the bondholders who have funded this company and amounts to using taxpayer money to show political favoritism of one creditor over another….

No kidding.

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If you are the Chief Executive Officer (CEO) of a company that has received $50 billion in federal bailout coin, there are certain things that you realistically shouldn’t say or do.

Both from a substantive policy and an optics perspective, you should walk a pretty straight line until We the People are made whole.

Behold General Motors (GM) CEO Dan Akerson – a man who obviously doesn’t adhere to this philosophy.

As we said back in March, Akerson is a foundational part of the Washington, D.C.-Wall Street crony capitalism nexus.

Akerson is not – and never has been – a car guy.  He himself said so.  What is he?  He is a DC-connected, Wall Street hedge fund big coin guy.

Akerson’s immediately preceding gig was Managing Director and head of Global Buyout for the incredibly inside-the-Beltway-connected Carlyle Group.

This hip-joined relationship with the federal Leviathan means Akerson’s a cardboard cutout for the real CEO of Government Motors – U.S. Treasury Secretary (and yet another fellow DC-Wall Streeter) Tim Geithner.

And from all we have since seen, Akerson is one giant toe on the Huge Government, Obama Administration line.

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In this, the third Age of Bailout, the Troubled Asset Relief Program (TARP)’s $50 billion General Motors (GM) bailout (upped from $20 billion by President Barack Obama) is yet another unmitigated disaster.

But a few of the many failures:

• GM had to file for bankruptcy anyway.

• President Obama originally claimed we’d make money on our $50 billion.  Seven months later, the Administration admitted we’d lose more than $16 billion – and dishonestly claimed the loss they had said would be a profit was “less than the(y) originally expected.”

• GM last year claimed in a television ad campaign to have “repaid (their) government loan in full, with interest, five years ahead of the original schedule.”  Which was another total lie.  They had in fact paid back only a tiny fraction thereof – and had done so so with other government TARP money.

• So fraudulent was GM’s media-buy proclamation that there has been a Federal Trade Commission (FTC) complaint filed against them.

• As of November 16, 2010 – more than half a year after the “paid in full with interest” ad – GM had only paid back $361 million.

• GM and Chrysler has been dominating the Forbes Worst Cars of the Year list.

• With the exception of the 2011 Mercedes-Benz S-Class, the 2011 Smart For Two and the 2011 Nissan Titan, the cars on the list are all American-made. Worse than that, they all come from two manufacturers: General Motors and Chrysler. Ford managed to avoid the list completely…. (GM) offerings from Chevrolet and Cadillac crowded the picture…

• GM has some work to do before it can regain a good reputation fleet-wide. Four GM-made vehicles–the Cadillac Escalade, Chevy Tahoe Hybrid, Chevrolet Colorado, and Chevrolet Aveo/Aveo 5–are ranked as among the worst on the market today. All but the Tahoe Hybrid qualified for the Worst Cars list last year as well.

• Probably also due at least in part to these distractions, GM has had to recall their cars – again, and again, and again, and again, and again, and again, and again, and again, and….

As horrendous as all of this is, it can at least perhaps be written-off as the utterly predictable, yet unintentional, ruinous outcome of government involvement in the private sector.

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President Barack Obama and his fellow Democrats face in 2012 running for reelection into the stiff headwind of a terrible economy – largely of their own making.

In just the last four years, the federal government – run by a Democrat Congress since 2007, and adding a Democrat President in 2009 – has increased spending by 29%.

2007 Federal Budget: $2.73 trillion.

Note: This was the last all Republican budget – the House, Senate and White House were at the time all run by the Rs.

2011 Federal Budget: $3.82 trillion.

Note: This is an estimated total.  Because the Democrats that were at the time running the House, Senate and White House didn’t write a budget – because they were afraid to go on the record with how much they actually wanted to spend in advance of the 2010 election.

Meaning – it could have been WORSE.

That is a $1.09 trillion increase – in just the last four years.

Behold the nation’s third Age of Bailout.

And the resulting Age of Bailout economy has been – atrocious.

Thusly, Democrats are seeking to rewrite recent history – and the present – in terms far more favorable to them than Reality to assist them in their re-electoral pursuits.

Much as our entire Left-Liberal cultural nexus -  our government (i.e. public) schools, the Leftist PlayLand colleges and universities and the Hollywood-Media Corridor – have rewritten the histories of the first two Ages of Bailout.

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