Every presidential administration will experience conflict and crisis This means that they all will make mistakes and experience negative feedback and feelings of mistrust from constituents and the media. That is unless you are President Barack Obama.
When it was announced this week that General Motors would go bankrupt, despite the previous federal bailout given to them with orders from U.S .Congress to RESTRUCTURE OR FACE BANKRUPTCY, I realized that Obama’s critics were right. This can be literal in the sense that yes Obama’s critics are right of center, however they are also RIGHT. Obama should have allowed GM and Chrysler to go bankrupt in the first place. They did not produce. They should be allowed to fail. America is a capitalist society- at least we once were. We are all given the freedom and the opportunity to succeed or fail.
The Wall Street Journal published this opinion piece today:
The Wall Street Journal
JUNE 2, 2009
The Obama Motor Co.
Back in December, in an economy far, far away, then-CEO Rick Wagoner tossed out the scary cost to taxpayers of $100 billion if General Motors wasn’t saved by the government. Well, GM was saved in December and again in March, and as early as today the feds will rescue it a third time in a prepackaged bankruptcy that is already costing at least $50 billion, and that’s for starters. Welcome to Obama Motors, and what is likely to be a long, expensive and unhappy exercise in political car making.
Taxpayers have so far put up nearly $20 billion, which was supposed to be a loan at market rates but under Treasury’s forced restructuring will mostly be converted into equity in the new GM. The feds are also putting up $30.1 billion in “debtor in possession” financing and will effectively nationalize the once-mighty auto maker by taking roughly 60% ownership. (That’s not counting $12.5 billion to save GMAC, the company’s financing arm.) The Canadian government will go along for the ride for 12% of the new GM, the UAW will get about 17.5%, and the hapless bond holders have to settle for 10%.
The Obama Treasury is portraying this as the best solution to the mess it inherited, leaving GM with much-reduced legacy costs for health care, a cleaned-up balance sheet, a humbler UAW that has forgone some performance pay, and a more efficient dealer network and product line. GM, we are told, will now be able to make a profit and some day even return money to taxpayers. If you close your eyes and imagine that GM’s private managers would be able to make decisions based solely on business judgment, you can even start to believe.
But then you snap out of it.
Every decision the feds have made since December suggests that nonpolitical management will be impossible…
Much of the change, hope and “down with the people” philosophy stuffed down our throats during the Obama campaign belies the grandiosity and pomposity of his presidency and administration. Sure one could feasibly defend him by saying it all Bush’s fault or “the poor guy has only been in office x number of days”. But remember, days turn into weeks, weeks turn into months, which make years. This upcoming fourth week of June will mark Obama’s sixth month in office. That is one half year. Now that I think about it, I have never been more mentally exhausted after a newly inaugurated president’s first six months than I have during Mr. 44’s.
God forbid if we get another attack on American soil. I don’t think I could take it and I am not so sure that our country could either. There were times during the Bush Administration, in which I did not agree with the direction he was taking our country in. I now nostalgically look back on those times as ‘the good ol’ days.”
That sounds harsh and I realize that my liberal readers will want to strangle me again. I did not vote for Bush either time so don’t put peg me as a Bush supporter. I was angry when he was my governor, I was furious when he waged the war on Iraq. However to President Bush’s credit, there was not another foreign attack during his presidency. I believe that his administration would make better decisions should we ever experience another attack, than say the likes of the Romper Room-ish O-Team. Hillary Clinton is a brilliant person but I am not seeing as much of her input as I would like, which is something I was afraid of when she accepted the Secretary of State appointment. Hillary withstanding, the overall impression I get from the Obama administration is one of a somewhat silly” green behind the ears” character. Unfortunately, too many administrations with this plot end unhappily for our country. The White House has been KID napped and we are seeing a tragic parody of true government. Obama and his pals are living in a vacuum of media praise, over confidence and a lack of experience, all compounded by a desire to help too much and experiment.
This brings me back to GM and its takeover by the government. Had Hillary Clinton won the Democratic nomination, I believe, I hope, that she would have been the sort of centrist president to reject this idea of Government Motors. Or would she have? I feel that I no longer know anyone in this age of Obamao.
Nowhere have I seen more that one or two Democrats say that this troubles them. As much as a RINO John McCain can be, I can say with confidence that this would not have taken place had he been president. So between Hillary and McCain, I feel that either would have been a better leader for these difficult times than Obama.
Liberal, or conservative, you can’t possibly favor the idea of our federal government running corporations. If you do please help me understand what could could possibly come of it. I thought Barack Obama felt the same way. Rush Limbaugh pointed this out today:
Transcript from the Rush Limbaugh radio show June 1, 2009:
Obama Claims He Won’t Run GM, Then Explains How He Will Run GM
June 1, 2009
RUSH: September 17th last year. I warned you, and I’m sure all of you in this audience or the vast majority of you in this audience listened. Here we go, GM permanently closing nine more plants, three more to be put on standby. It’s the wrong Chyron, Fox and MSNBC. It is ObamaGM’s in bankruptcy. This is Government Motors, this is Obama. He just told us more plants are going to close; more jobs are going to be lost; more dealerships shut down. Well, right now Fritz Henderson gets the dirty deed, he’s the CEO, he gets to announce the closings. Obama got to announce all the wonderful things, the government’s going to say this and say that, but here’s the GM CEO Fritz Henderson now talking about all the new plant closings and all of the dealership shutdowns and all the jobs to be lost, he’s detailing it. Obama forecast it, but he didn’t give the bad news per se. He’s leaving that to the GM guy. But this is all Obama’s doing. permanently closing. Can we get this right for once? GM doesn’t exist anymore.
Here’s Obama, my friends, as I interpret him. I inherited this, I inherited that, everything going wrong is somebody else’s fault, I inherited it. The majority of the good parts that I inherited I’m going to give to the unions, and what you inherit from me, you won’t be able to pay off for centuries, because I’m leaving you with nothing, I’m leaving you in debt. What you are inheriting from me is — and he believes this BS he is spewing — he believes it, folks, he’s a true believer. That’s what’s so scary. He believes this stuff. All right. We have brief time-out. Well, one more. Audio sound bite two. It’s very short, eight seconds. This is March 30th, two months ago, Barack Obama.
OBAMA: Let me be clear. The United States government has no interest in running GM. We have no intention of running GM.
RUSH: That statement expired today because today Obama announced how he’s running it.
There has been this all of this recent worry on the right about America becoming a socialist country. There is no longer anything to worry about. Socialism has arrived and there is not much left to say about it. Beyond all of the Time magazine covers and Air Force One trips, the “cool’ new black kid on Pennsylvania Ave stuff, we are fucked.
Glenn Beck concurred just this afternoon. Obama has put 31 year old Brian Deese in charge of auto management:
Autographed Letter Signed,