The last time the Congre$$ was threatened only 2 months ago to Bail-US-Out or havoc&chaos will abound, it cost us 700 billion or so we were told... the actually figures are in the billions and we don't really know who is getting bailed-out.
They were right about the havoc&chaos part at least, the bail-out line has grown dramatically longer since.
the democrat plantation includes—
gm, ford, and chrysler.
GM said it would seek up to $18 billion from the government: $12 billion in loans, including $4 billion by the end of December, and a separate $6 billion line of credit in case market conditions worsen.
There is plan B you disingenuous would be thief. It’s called receivership. Chapters 11 and 7 are at your service. If we subsidize our failing northern factories laden down with bad union deals, we deserve the taxpayer revolt and breakdown that’s coming.
This will also be a nail in the free trade coffin as we show no hesitation to subsidize our crappy offerings. That could be really disastrous. Protectionism is a fool’s gambit.
All because they let a cash cow in the "Vega" go.
It just ain't fair....
“Do nothing” is always a plan B. And a damn good one in this case.
Congress could buy the entire company outright for less than 5 billion.
This 'bailout' is fiscal insanity.
L
One of the worst things politicians have done to our country is ingrain in Americans a Marxist, labor-centric concept of the economy. They’ve planted in the American subconscious the notion that businesses exist not to turn a profit, but to create jobs, regardless of whether those jobs actually provide any value to the economy.
That’s the entire rationale behind the auto bailout. GM and Ford have to be saved not because they provide some valuable service to our country, but because they and their suppliers employ too many people. Forget the fact that an obscene number of those jobs either add less value to the economy than they cost or add no value at all.
Therefore, Congress is going to suck capital out of productive, profitable sectors of the economy and shovel it down that black hole in Detroit, all in the name of “jobs.” Forget the fact that that money has to come from somewhere, probably from somewhere where it could have been used to hire someone in an industry that is actually viable.
I really wish we had someone who could go in front of the American people and ask them, “Why is this GM worker’s job more important than yours? Why should your job be sacrificed to save his? Is it because he’s part of a union that gives money to Congressmen and you aren’t? Isn’t Congress supposed to be representing all of us?”
No one will, though. Free enterprise has no defender in Washington today. Democracy exists now only to distribute largess to those who have the most influence at the moment. Usually I’m pretty optimistic about the ability of America to withstand the depredations of its leaders, but things like this start to make me wonder if we aren’t turning into a cross between the Weimar Republic and the Soviet Union.
See, I don’t understand why everyone is so afraid of Obama implementing a socialist agenda. We are already living under one.
Bail-US-Out Pay Big-Time or Pay Big-Time
Fixed for accuracy.