President Obama’s phony accounting on the auto industry bailout

[Pepper]

Washington Post:

Posted at 12:00 PM ET, 06/07/2011

President Obama’s phony accounting on the auto industry bailout

By Glenn Kessler




We take no view on whether the administration’s efforts on behalf of the automobile industry were a good or bad thing; that’s a matter for the editorial pages and eventually the historians. But we are interested in the facts the president cited to make his case.

What we found is one of the most misleading collections of assertions we have seen in a short presidential speech. Virtually every claim by the president regarding the auto industry needs an asterisk, just like the fine print in that too-good-to-be-true car loan.



********

h/t to Glenn Reynolds

Good read.