RNC Statement on General Motors Financial Report

WASHINGTON – Republican National Committee (RNC) Chairman Michael Steele released the following statement today:

“Today’s release of General Motors’ financial results is further proof that President Obama’s economic experiments are wrong for America. Sadly, GM has not only failed to turn a profit since the president poured $50 billion of the taxpayers’ dollars into GM’s bankruptcy restructuring, but it has actually lost $1.2 billion. As the “Cash for Clunkers” program clearly demonstrated, government interference in private industry doesn’t help the companies involved and ends up greatly costing the American taxpayer.

And now the president, Nancy Pelosi, and Harry Reid are trying to do the same thing to our health care system, which would put the government in charge of 1/6 of our economy. President Obama and Congressional Democrats believe increased spending and massive government regulation in private enterprise are best for the economy. Clearly they’re wrong.”