Bill O’Reilly Suggests GE Received Stimulus As Payback For NBC’s Support Of Obama

Last night on The O’Reilly Factor, host Bill O’Reilly appeared to take the bait from Gateway Pundit’s Jim Hoft who yesterday suggested that the nearly $25 Million in federal stimulus money received by GE was payback for pro-Obama coverage by NBC News (which is owned by General Electric.)

For his part, Fox News analyst Charles Krauthammer seemed to treat O’Reilly’s suggestion that GE CEO Jeffrey Immelt refuse the stimulus package as not only moronic, but also inconsistent with the fiduciary responsibilities he’s pledged to uphold to the shareholders of General Electric. A transcript of the back and forth follows the video below.

O’Reilly: Impact Segment tonight, a situation that made me pause. In 2009 the General Electric corporation generated 156 billion with a b dollars in revenue. Obviously an enormous number. GE also received 25 million bucks in government stimulus money, our tax dollars. However, GE let 18,000 workers go last year after getting the money. How does that add up? We asked Fox News political commentator Charles Krauthammer to assess the situation. He joins us now from Washington. We have coming up behind you Senator Coburn about a billion dollars possibly wasted in Haiti. He is coming after you. What I can’t understand and you are much smarter than I am as everyone knows. Why would we give ge $25 million in the first place when they’re generating an enormous amount of money. They don’t need stimulus package.

Krautammer: Look, that 25 million was not an act of charity. The fact that ge is one of the largest corporations on earth in the middle of one of the worst recessions in seven years would shed jobs and try to get lean is not news. That’s what every business, large, small, and medium has been doing. And the fact that GE got $25 million is meaningless. do you know how — you are a Harvard guy. You can do the math. That is 1/3 of one one hundred of 1% of the Stimulus.

O’Reilly: Here is what I would have done if I were Jeffrey immelt the ceo of GE I wouldn’t have taken a nickel of taxpayer money if I knew I was going to lay off people. How does thatook? Even though it’s a minuscule amount compared to the trillions of dollars the government dolled out in the face of the recession, it’s still 25 million. Then they they lay off 18,000 people. The folks are going, what is this?

Krautammer: I’ll tell you what it is. If you are the head of a corporation, you have fiduciary obligation to try to maximize your profits and to make the corporation a going affair. If you have to shed jobs in a recession like everybody has to, you go ahead and do you it.

O’Reilly: don’t take the government’s money.

Krautammer: The government comes along and offers you a check thank you I will take it.

O’Reilly: a lot of companies wouldn’t do that.

Krautammer: Then I’m not sure I would want to hold their stock.

O’Reilly: what about the moral responsibility that GE has to the taxpayer?

Krautammer: Look, if the government believes that it has to spend a trillion dollars and you and I oppose the stimulus, I think it was almost complete waste of money, it will not leave a trace, unlike what happened in the great depression when we have the Hoover dam and tva and the interstate highway system and the space program in the 50s. This is not going to leave a trace. I was against it I think it’s the wrong way to stimulate an economy. Nonetheless, the democrats won the election. And they had control of the house and senate and they decided to spend the money. If it’s going to be spent and you are the head of the corporation and the government offers you in one of your divisions, let’s say a green project, I think it’s all nonsense, but if the government offers you that you take it. Why not? That’s what business is about.

O’Reilly: then you lay off 18,000.

Krautammer: That’s not connected to the money. It’s —

O’Reilly: The appearance of greedy big corporation letting the little guy go out the door when they are getting taxpayer money.

Krautammer: Look, look, look. Hold on one second. You have know the fallacy there go hawk you are the Harvard man, meaning if x happens before y it doesn’t mean x caused y. there is no connection between stimulus money thrown thrown out of an airplane sprinkled all over America where a minuscule amount lands on GE shedding jobs which is what every company has to do in a recession.

O’Reilly: GE is widely perceived to be maybe erroneously maybe to be in the pocket of president Obama. The NBC news arm obviously promoted his election and some might say cynical people well, look, it’s payback time. They are getting a bunch of green contracts. They are getting the 25 million, even though it’s not much, it’s still 25 million. It’s really pay back time. Do you see it that way?

Krautammer: If you are going to sell your soul you don’t sell it for a happy meal without the fries. Ah, it’s a trivial amount of money.

O’Reilly: contracts aren’t.

Krautammer: So ideologically inclined in that case and that’s why they built NBC, MSNBC, the web site, all of this as a way to amplify a left-wing pro-Obama message, then why did he sell it? If he already it had he sold it to Comcast.

O’Reilly: It failed. Not doing that well.

Krautammer: Is comcast which has now purchased it also left wing and ideologically inclined?

O’Reilly: I don’t think so.

Krautammer: It’s a business proposition.

O’Reilly: okay. all right, Charles. it will be interesting to see the mail on this.