Government Motors is What Obama Wants to Do to 'Every Industry'

President Barack Obama on Thursday uttered the following utterly absurd thing:

“I want to (bailout) manufacturing jobs, not just in the auto industry, but in every industry.”

Even before President Obama dramatically bumped up the auto bailout to $82 billion, we were saying that this government-funded Crony Socialism model is what he has in mind for the entire once-private sector economy.  He’s just now openly asserting it.

So let’s take a look at the auto bailout nightmare mess - and marvel at what President Obama wishes to multiplicatively replicate. 

(If some of the following sounds recently familiar, you must listen to gracious radio host-exemplar Mark Levin.)

  • $26.5 billion of the loss was a straight payoff to the Democrat-apparatchik United Auto Workers (UAW) union.
  • During the bankruptcy process, President Obama illegally paid off the UAW first and in full - before secured bondholders who should have been made whole before anyone else got a dime.  Which was incredibly disruptive and destructive of the entire bond market.  Economic uncertainty, anyone?
  • Meanwhile, President Obama cut the pensions of non-union GM-subsidiary Delphi’s employees by up to 70%.
  • President Obama illegally carried forward through the bankruptcy the ridiculously exorbitant UAW contracts.  Which were a hay-yuge contributing factor to GM going under in the first place - and are again, predictably, helping to wreck the bottom line.
  • Why has the stock tanked so precipitously?  Because GM is no longer a for-profit car company - it is a Leftist ideological entity.  To wit:
  • We the Taxpayers pay $7,500 per Volt sold in bribe money - I mean incentive.  And in President Obama’s latest unanimously rejected budget he wanted to up that to $10,000 per.  

And so on, and so on, and....

All of this slow-motion train wreck-litany - is President Obama’s vision for how we should from now on do all things economy.

Because for this President, "success" doesn't mean greater free market achievement - it means greater government control.


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