Bush Continues March to Socialism with Auto Bailout

by Sal on December 19, 2008

in Economy,Politics

President Bush today defied the will of Congress and voted to use $15 billion of TARP money (the original Paulson bailout that was appropriated to save failing financial institutions during the credit crunch) to bail out the auto industry.  The bailout went to Chrysler and GM, as Ford decided it did not need a bailout after all.

The bailout is in the form of a “loan” that can be rescinded by the Government in March if the auto industries do not make major structural changes and the unions do not make major concessions.  However, since the Bush administration will not be in office in March, these conditions are meaningless.

The plan gives the Federal Government stock in the two auto companies, cementing  government ownership in the private sector as part of our new American Socialist Republic. And we have a Republican President to thank for it.

And while we are in the worst economic situation since the depression, driving our deficits to new heights, Congress has decided to give itself a pay raise.  It must be nice to set your own salary.

As I’ve stated before, we’re at the dawn of the United Socialist Republic of America.  Welcome to our new Marxist paradise.  I think I am going to be sick.

{ 2 comments… read them below or add one }

Chris December 20, 2008 at 12:01 am

Very sad Bush has taken this route…and I guarantee that the UAW workers will never pay homage to Bush for saving their jobs and contract.

The Federal Government (CAFE Standards) and the UAW have hurt the US Auto Industry and the US Government having a say in how they do business will hurt them even more.


Ryan December 20, 2008 at 11:15 am

There should be a major public outrage over Congress’ poorly-timed pay raise.

Not only can we not vote for our won pay raise (as Sal points out), but with deficits over a trillion bucks already for next year, people, businesses, and states needing to tighten their belts, Congress needs to give itself more money?

OK, so big CEOs who get public money need not take a bonus or a salry next year, but Congress (also using the people’s money) will get more money. I hope sometime over the next two years, the American public wakes up from its lethargy and stop acquiescing to the painful dictates of an irresponsible Congress.


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