Soviet States of America
Let's see now...didn't President Barack Obama tell us that the General Motors bailout was necessary to prevent bankruptcy?
And didn't he assure us that the government intervention, i.e., billions of dollars of taxpayer money, was needed to prevent this from happening?
This administration just sunk lots of other people's money into a bad investment.
Remember that the justification for these billions of dollars
for U.S. car companies was, "If they go bankrupt, it will be the end of the economy."
Well, the result of this brilliant plan is that two are bankrupt.
Political agendas have nothing to do with truth.
So now GM wends its way through bankruptcy with the help of
another $30 billion of taxpayer money. The initial billions didn't cut it, and bankruptcy
happened anyway. It's the same result with just one little difference – the
government now owns the biggest piece of this pie, and
continues to expand its tentacles into every corner of
Will GM be run with the same degree of success as Medicare, Medicaid, Social
Security and dozens of similar programs? Can you
say "U.S. Postal Service" or
This entire auto-industry bailout mess is symptomatic of
how out of touch Obama and his administration is with
the realities of our current economic crisis. Last
week, while the rest of the nation is suffering through a near-depression,
President and Mrs. Obama jetted off to New York at taxpayer expense for "date night".
That is the height of arrogance.
Clearly Obama is much more in touch with the rock-star trappings of
his office than with the people he was elected to serve.
Welcome to the Soviet States of America, where the
government controls banking, insurance, investments, health care,
executive pay and now, the auto industry.
I can't wait for the next Yugo, built by