North Korea Gives Barry Another 3am Call

Will he answer? Or, is it time for another photo-op trip to get a burger with Joe, frozen custard with the kids, or maybe a round of golf? This is what North Korea had to say regarding the U.S. trailing…

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North Korea Gives Barry Another 3am Call

Obama Bails Out GM with Our Tax Dollars, Who Will Bailout America?

- Scott Miller

Today Obama used our kids future paychecks to bailout the UAW and GM. During his teleprompter-fed speech today, Obama said this:

Promising “the beginning of a new GM,” President Obama today announced that General Motors was entering bankruptcy protection, and that the federal government was giving it an additional $30 billion, making taxpayers a 60% owner of the auto giant. “Understand we’re making these investments not because I want to spend the American people’s tax dollars, but because I want to protect them. Instead of taking so much stock in GM, we could have simply offered the company more loans.”

Obama continued, “But for years, GM has been buried under an unsustainable mountain of debt. And piling an irresponsibly large debt on top of the new GM would mean simply repeating the mistakes of the past. So we are acting as reluctant shareholders — because that is the only way to help GM succeed.”

The president also stressed that he has no interest in running GM. “GM will be run by a private board of directors and management team with a track record in American manufacturing that reflects a commitment to innovation and quality,” he said. “They — and not the government — will call the shots and make the decisions about how to turn this company around.”

Sooo… let me ask this really silly question… how is it that the brilliant Obama (savior of the world…  able to leap over buildings… sorry got of track there) suddenly seems to understand how detrimental massive debt can be? I mean seriously, for fun, let’s swap out the word “America” for “GM”… it would sound like this:

“But for years, America has been buried under an unsustainable mountain of debt. And piling an irresponsibly large debt on top of the new America would mean simply repeating the mistakes of the past. So we are acting as reluctant shareholders — because that is the only way to help America succeed.”

You see, in Obamaland it’s OK to bury the country in debt (as he piles another $10 trillion in Obama debt on the shoulders of our kids) because we can just turn on the printing presses, right? Wrong. The same economic principles about unsustainable debtload that applies to GM, applies to the United States government. So the question must be asked… who will bailout America?

Also, calling the new GM board a  “private board of directors”, is an out-and-out lie. With the American and Canadian governments appointing the vast majority of the directors to the board, there is nothing “private” about it. He just wants to be able to blame someone else, “the private board”, when this whole thing fails again.

Obama is so arrogant with his say-one-thing-and-do-another approach, it’s just plain silly now. How he can think anyone, other than Pravda (our MSM), believes him when he says ‘he doesn’t want to run GM’ is beyond me… that is exactly what he wants to do, and that is exactly what he will be doing.

And at the end of the day, this is just delaying the inevitable… GM is toast, both the old GM and the new GM. Americans will instinctively turn away from buying vehicles made by the government… same holds for the new Chrysler. Our tax dollars are being thrown down a rat-hole.

Seems to me Ford has a tremendous opportunity to gain mega market share here… let’s see if they can get their act together enough to capitalize on it.

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Obama Bails Out GM with Our Tax Dollars, Who Will Bailout America?