America, You Asked For It!

Political News and Commentary from the Right

Here it comes–USMC

No, not United States Marine Corps. United States Motors Corporation.

That’s right. GM, the former icon of American capitalism, could well be the first icon of American Socialism!

GM is offering over 50% of its stock–a controlling interest–to Uncle Sam to cover the ill-advised multi-billion dollar bailout initiated by Bush and exacerbated by Obama. After all the promises that government loans would save the company, the US government just bought itself a car company!

Let’s see, the same government that’s bankrupting Social Security, hemorrages cash through the USPS, forced FRE and FNM to back bad loans, and forecasts trillion dollar deficits as far as the eye can see is somehow going to bring this manufacturing giant back to profitability? Right!

Oh, but Uncle Sam will have plenty of help running this behemoth even deeper into the ground

The automaker also proposed that the United Auto Workers take GM stock for at least half the $20 billion the company owes to a union-run trust…Combined, the union and government would own 89 percent of the century-old automaker

Though we saw it coming, this is truly a sad, sad day in the USA USSA–United Socialist States of America.

April 28, 2009 Posted by | Socialism | , , , , , , | 2 Comments