White House and Congress Reaching Accord on Slow Bleed of Taxpayers

Congressional Democrats have unveiled their latest bail-out, a scheme that manages to be both cynical and foolhardy at the same time.

With 54 percent of Americans opposed to handing over their hard-earned money to three of the nation’s biggest corporations, Democrats and the White House have decided to bilk us slowly rather than quickly, with a $15-Billion loan to the Big Three now, and, well, who knows how much later? As of this writing, the White House is pushing for changes in some details of the taxpayer shake-down.

The scheme calls for a “car czar”, appointed by President George Bush XLIII, the guy who appointed Hank Paulson. This person would “manage a vast restructuring of the firms and restore them to profitability”.

Methinks somebody’s been inhaling too many gas fumes. About the only person less worthy to manage the auto industry than the current crop of CEO-Whiners is a federal bureaucrat.

Nothing about this scheme suggests that it will foster America’s long-term economic or moral health. It’s a slow bleed of the taxpayers and a big step toward nationalizing the auto industry.

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1 thought on “White House and Congress Reaching Accord on Slow Bleed of Taxpayers

  1. true, leslie, that it is a slow bleed, but i think it’s responsible action, not giving them the requested relief, making them have to restructure as if in Chapter 11 and be accountable. I don’t mind a slow bleed because you can plan for it. it’s the big one-two punch i think most Americans are in fear of. if it were me i’d let them actually file bankruptcy and then restructure with loans in place. and nationalization couldn’t happen to a better and more deserving industry. too bad the actual workers are the ones who will feel the pain, not the executives or stockholders so much….

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