He earns three Pinocchios, actually, as even the Washington Post calls His Obamaness a liar. The fact-check covers the president's recent oral fantasy about what a good job he personally did in saving the American auto industry.
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.
The news you can use from this is that Chrysler and GM have not and probably never will return all of the money they extorted from you.
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