President Obama and United Auto Workers(UAW) President Bob King are touting the “achievement” of the auto bailouts while slamming Republicans who opposed them. Over the weekend, UAW members chanted, “Thank you, President Obama!” at a rally.
Now the UAW is attacking former Massachusetts governor and presidential candidate Mitt Romney for calling Mr. Obama on putting the union ahead of taxpayers and investors. Instead of letting General Motors (GM) and Chrysler go through the normal bankruptcy process, Mr. Romney pointed out, the president gave “these companies to the UAW.”
The fact is that the UAW has benefited from billions of taxpayer dollars, not just through the direct bailout of General Motors and Chrysler, but also through various programs that gave government dollars to the union’s health care plan. Yet even with the taxpayers supporting it at seemingly every turn, the UAW’s health insurance fund is billions in the red.