Saturday, April 24, 2010
GM- A Example of What Happens When Government Runs Industry
GM has finally paid back the TARP bailout. The new CEO, Ed Whitacre , created a TV ad congratulating themselves on their progress. The Gaffe-O-Matic Vice President likewise continued with the happiness reporting. As it turned out, all of this was intended simply to blow sunshine up our ass.
Yes, we've been "had" again by the Obama administration, and its newest acquisition, GM (Government Motors). GM paid the taxpayers back with....are you ready...OUR OWN FREAKING MONEY!! GM took money out of a taxpayer funded escrow account, and paid us back with our own money. They are still operating at a loss, and have no earnings.
I've said this before, and I'll say it again. If any Conservative buys a GM car, your doing nothing but subsidizing Socialism. The UAW, which builds these cars, finances the DNC. The DNC has been taken over by Socialists, so any purchase of a GM car goes to that purpose.
I will never buy another GM car. This is a lifetime commitment for me. I will encourage all members of my family and friends to do likewise. The overtaxed US taxpayer will be facing huge deficits for decades to come, and Federal financing of GM is simply throwing good money down a deep and nasty rat hole. Don't ever let the Government convince you again that any business is too big to fail.