For everyone who’s ever accused us of being a shill for the Republicans get ready to fire off an angry e-mail because we’re about to blast the Orator in Chief:

Partisan politics in this country being what they are we’re told the paternalistic Democrats look out for the little guy while evil Republicans care only about the wealthy. The truth is likely somewhere in between.

There’s no denying the truth, however, that President Obama royally f****d the American taxpayer (and, remember, the little guy pays little to no federal income taxes) with the White House bailout of the auto industry.

Let’s take a trip down memory lane:

As of October 2010 TARP – the program demonized by the Democrats as a bailout of Wall Street – stabilized the global financial system and generated a profit for the U.S. government of $25.2 billion on an investment of $309 billion. Much of this came in the form of interest and dividends with a smaller amount coming from the sale of equity stakes in the banks. Since that time the government sold its stakes in Citi and AIG taking in another $12 billion and $19 billion respectively. Call it a bailout of greedy bankers but the facts show it was a hugely profitable investment for the government.

Now how about that little guy? How about the working men and women? How about that core Obama constituency? Just how did the little guy make out? To say he stole from the government would be an understatement. To say he was handed a pile of cash courtesy of President Obama would be more accurate.

Even though TARP was designed to stabilize the banking system the Democrats redirected $80 billion of TARP funds to the auto industry as a favor to the unions. And what did the American taxpayer get for his and her investment? The White House is projecting the government will LOSE $14 billion. (See this Wall Street Journal story for the details.)

To make matters worse the pre-packaged bankruptcies of GM and Chrysler were tantamount to theft. Is this hyperbole? Not according to contract law. The food chain is pretty clear. Bondholders get paid before stockholders. Secured debts are paid before unsecured debts. Senior creditors are paid before junior creditors. What the Obama White House did was ensure that the unions as junior creditors received a larger equity stake in the “new GM” and the “new Chrysler” at the expense of more senior creditors like banks, pension funds, insurers and other financial institutions.

President Obama was swept into office on a wave of sentiment and emotion. He ran a campaign based upon a simple premise – change. Wasteful spending and pandering to constituents is not change. IT IS NOT CHANGE!