GM's Wagoner says automaker bailout needed to save U.S. economy from "catastrophic collapse"!!!!GM's Wagoner also said "O ba ma, O ba ma, O ba ma" hoping that by chanting the saviors name 3 times in a row that Barack would magically appear and bail him out.
My, the rancor is thick in here the last few days.
ReplyDeleteTell me: Where was all this righteous indignation over corporate welfare for the last 8 years?
Seriously Mike. Why weren't you complaining about all of the corporate bailouts over the last 8 years?
ReplyDeleteThe auto companies received like 18 bailouts during the Bush/McCain administration.
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ReplyDeleteBailouts in the last 8 years = 1.
ReplyDeleteAfter 9/11 for the airlines.
As for the $700b... it was Republicans (not lead by John 'Not Mavericky' McCain) who blocked it the first time and who lead the opposition (what little there was) prior to the second vote.
This rash of bailout-fever is unprecedented in our lifetime and frankly neither party, candidate, politician, governor or mayor is doing anything to stop it. They all have their hands out. These bailouts and this pot of $700b is causing all of our leaders to abandon any speck of financial discipline they may have had.
You say righteous indignation, I say have an opinion.
I'm sorry, I must have mis-typed. Did I say "corporate bailouts"?
ReplyDelete[checks my last comment]
No, I'm pretty sure I said "corporate welfare." Wide-reaching and often unnecessary direct or indirect subsidies of private sector entities, many of whom cry "wolf" about impending market failure. The Cato Institute (libertarian think-thank, not some liberal cadre of whining Walmart protesters) calculates FY2006 corporate welfare at $92 billion. The Department of Commerce themselves puts 2005 direct subsidies at $57 billion.
I don't like it either, but we started down this slippery slope a long time ago, before any of us were even born. Maybe you guys are just joking, but trying to somehow hang this on "O Bam A" before he even takes office seems a little disingenuous.
"frankly neither party, candidate, politician, governor or mayor is doing anything to stop it."
ReplyDeleteYeah, that was so partisan.
In regards to the Big 3 bailout specifically, it is Obama calling for it, Pelosi who drafted the proposal and Frank pushing it, definitely not Republicans (see Mitt Romney post). That is not the focus of my post or complaint though. Chanting "O Ba Ma" is just a cheap shot... be forewarned: I will take cheap shots at Obama. Yikes!
Please don't focus on my little bits of snarkiness and sarcasm. I also said how maybe you're just joking.
ReplyDeleteI ask again: Is corporate welfare just now starting to piss you off? Or is it the extraordinary amount?
"Is corporate welfare just now starting to piss you off? Or is it the extraordinary amount?"
ReplyDeleteIts the cavalier, throw caution to the wind, ram it down the American people throat approach. It's the abandonment of core principles (like, why are the Dems lining up for any of this?). Its like the American tax payer is being held for ransom. "Give us money or else the earth will crash into the Sun!!" (no thanks to Millard Filmore)
The amount just exacerbates my concern.