President Obama defended his bailout of the auto industry on Friday by taking a tour of two Detroit factories in a media event. The Chrysler and General Motors factories are of the two domestic auto companies that Obama controls. As a shining example of the success of a government and private industry “cooperation;” Mr. Obama took a ride in Chevy’s newest vehicle the “Volt.” This car is the first of a new breed of hybrid that can deliver up to 40 mpg. Instead of the traditional hybrid design that uses a driveline of both electric and gas power, the Volt uses only electric motors to power its front wheels. There is an onboard gas engine that acts as a generator to constantly replenish a battery pack . The Volt reportedly can travel the first 40 miles solely on electric power derived from its batteries. After that the gas generator will kick in when the battery storage capacity is down to 30 percent. The result is a combined estimated fuel economy of 40 mpg. President Obama, looking every bit of a banana republic dictator, smiled broadly as he took a test drive of his car company’s latest creation. The Federal government purchased more than 60% of General Motors last year with more than $50,000,000,000 of taxpayer money. President Obama currently controls 10 of the 13 seats on the Board of Directors of GM.
The Volt costs $41,000 and is based on the $17,000 Chevy Cruze platform. President Obama reportedly will provide up to a $7,500 tax credit to purchasers of the new Volt. That will reduce the cost of this latest hybrid to $33,500. That would assure it to be more costly than Ford Motor Company’s highly acclaimed Fusion Hybrid which costs several thousand dollars less as well as many sedans that are even cheaper. According to the LA Times, in anticipation of huge demand, President Obama, through his Board of Directors at GM, announced they would boost production of the electric car by 50%, despite having made no sales or deliveries as of yet. With President Obama’s seal of approval, the car will be released in seven states now, up from the three that had been planned by executives at General Motors.
The launch of the new “Volt” is just one part of the President Obama’s “Green Jobs Economy” plan to bring prosperity back to the United States. This visionary concept is modeled after the highly acclaimed and equally disastrous green economy effort of Spain. The idea is that everyday Americans are thirsty for extremely fuel efficient and electric cars that are extremely slow and underpowered. That has become more of a reality as President Obama continues to choke off the United States’ ability to tap into its vast resources of energy. The other part of the equation may be more difficult to deal with: In a stagnant economy, what everyday American can afford the $41,000 er, $33,500 government car?