Wednesday, September 9, 2009
GM Bailout -- Money Down the Drain
The Congressional oversight committees are now owning up to the fact that the bulk of the auto bailout money will never be repaid. This money was simply poured down a rathole to preserve the rich pension and health care benefits of a small group of union auto workers. Meanwhile, millions of workers lost their job and will be asked to pay even higher taxes to support Obama's bailout for his political allies. The auto bailout will cost more money than the Iraq war this year. No doubt, Obama will ask for more. Soon the Iraq war will look cheap compared to Obama's gifts to his political allies. These people have no shame.