$17 Billion Paid Off

Are we totally insane? It seems the bill is coming to the surface. General Motors is claiming that it can need as much as $30 billion in 2011. We are now to the point where this is all asinine.

It is bad enough that Obama signed into law that farce of a bill designed to stimulate the economy. The only thing that is going to be stimulated are some of the pocketbooks of those who supported those who are presently on power. Now, he is going to have to decide whether to give these morons in Detroit additional money. My hope is that he tells them to go fly a kite. However, my hunch is that he will help them out.

Those of you who are regular readers of this blog know that I detested the "end around" that Bush pulled on Congress back in December. The predictions that came from most economists was that the bailout was not going to solve anything. And, it did not. Instead, 60 days (or so) later, they are back at the door with their hand out looking for more money. It is atrocious.

What needs to happen is for GM, and perhaps Chrysler, to enter into Chapter 11 and get reorganized. Many in management need to be removed in favor of others who can steer the company right. The crushing contracts with the unions and the dealers need to be renegotiated in bankruptcy court so that these companies can compete in the open market with the foreign imports.

Simply put, if Donald Trump can enter bankruptcy for a third time, General Motors can try it at least once. Enough of wasting taxpayer money on bull crap. We expect better from our leaders President Obama,

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