Rand Paul: You’ll Bail Out Detroit ‘Over My Dead Body’
” Why would Mr. Paul be so against another bailout? Hmm, maybe because we don’t have the money. That kind of stuff matters to some of us.
His final piece of advice:
“You don’t set up an implicit promise from the federal government that everybody is getting bailed out,” Paul said. “It’s sort of like too big to fail for banks. If you have too big to fail for cities or for states and they believe they’ll be bailed out they’ll continue to make unwise decisions.
“So, really, the answer is, just like the federal government, live within your means and spend what you have but don’t spend money you don’t have. The problem is so many of our state governments, the politicians are being elected by the public service unions. “
America Sinks as We Bail Out Egypt
” John Kerry just spit in the eye of the American people. For the past month we have been bombarded with Obama and his administration predicting Armageddon due to the sequester.
The American people were supposed to be looking at cutbacks and layoffs, long lines at the airports, no more food inspections, and children starving in the streets! Not to mention we haven’t enough money to send the aircraft carrier U.S. Truman to the Persian Gulf.Well that was last week. I guess we found some spare change in an old suit because John Kerry just gave $250 million to Egypt and the Muslim Brotherhood this weekend! Wow! Think of the kids that could have fed
Just after the delivery of our $213 million dollar gift of F-16’sto the Muslim Brotherhood, guess who was invited over for tea? None other than Ahmadinejad who received the full red carpet treatment from Morsi. What was he doing? Picking out which jets he wanted sent to Iran? Perhaps they were comparing notes on their hatred of Israel calling the Israeli people “descendants of apes and pigs” and saying that Egyptian children should be “nursed” on “hatred for Israel”. “
” One thing, which I wish Taibbi had emphasized more is that it looks increasingly like credit would not have “seized up” across the board, for very long anyway had the big banks been allowed to fail. The mid-sized banks and the community banks, which lacked exposure to much in the way of toxic assets (because they sold them off to the big banks which then folded them into Mortgage Backed Securities) would have survived. It would have been bumpy but well run banks just outside of big bank status, BB&T for instance, would have filled in the space.
The bailout was, as David Stockman says, a Wall Street crisis. The bankers all freaked out when their bets turned terrible, and then played the information leverage game with Washington to get the tax payers to pay for their mistakes. They basically said that the entire economy was going down (it wasn’t) and therefore an unprecedented abandonment of what was left of our market based economy was justified. It was a giant con. “
Illustration By Mike Keefe
” Government Motors opened plant in China four months after closing plant in Wisconsin “
“A bailed out General Motors expanded its small truck and SUV manufacturing in China soon after closing down similar facilities in Janesville, Wisconsin—the plant Barack Obama pledged to save
and keep open for “another hundred years” in 2008.
GM has increased its manufacturing capacity in China by 55 percent since emerging from bankruptcy thanks to a $ 50 billion bailout from taxpayers. An
important piece of that increased
capacity has taken place in Changchun, Jilin Province in China.”
” It’s no secret that the Obama administration (including Obama himself, who reassured the UAW that he’d personally buy a Volt when his presidency ended) has been flacking for the Volt for a long time — but that’s kind of unfortunate for them (and for GM) because it helps set the stage for what an abysmal failure the car has
As Steven Green points out , the success of Dear Leader’s voltswagen ( poor analogy I know given the ubiquitous presence of the Bug , but I couldn’t resist , I’m easily amused I guess ) , I mean Volt , has been a fitting example of the endless downward revisionism we are subjected to as the left tries to justify their failed policies .
They have gone from saying that a sales figure of 10,000 per month , a number touted by the Obama Administration , was likely, to saying that 5000 was a victory , to again lowering the bar for success to 3000 . Don’t forget now that the cars were flying out the door so fast that GM had to shut production down to offer their employees a little R&R… LOL
Now that is popularity on a massive scale . With total Volt sales for 2011 at 7700 units and maybe another 4-5000 this year that isn’t exactly a tidal rush of demand is it ? On top of that we have no idea how much monkey business has been used to create these sales figures . Let us not forget the tax-payer subsidies in the form of rebates .
Suffice to say that even if they have to give them away we will be tirelessly regaled of the success of Detroit’s comeback in general and the wisdom of seer Obama and his Voltswagen . It is an election year after all and the Bootlick media um DNC is in full campaign mode