Google

Sunday, August 24, 2008

Taxpayers- becoming Roadkill for Government Bail-outs

There is an article in the LA Times about Detroit Automakers asking for $50 billion in low interest loans from the government. According to the story, "Early details suggest the plan would be a juicy deal: Interest rates would be about 4.5%, less than a third what the carmakers can expect on the open market. And Congress could defer all payments for as long as five years."
Both Obama and McCain are supporting this bailout, using taxpayer money.
This comes on top of the bail-out of the financial institutions and of the GSEs.

As the comedian Bill Maher alluded to tonight on the Larry King Show, the politicians don't just represent the public, they are representative of the public. He should add that the majority of the public just hasn't developed the mental capacity to "get it."

No comments: