12 December 2008

If You Can't Beat 'Em, Go Around 'Em **Updated**

Here's a story problem for the day:

An automaker - after decades of inefficient operations and government oppression - can no longer keep up with its obligations. Rather than allow them to declare bankruptcy, which works for the airlines every couple of years, government leaders - with the approval of Union bosses - want to give them tax dollars. (Note: Because of the way the government pays for things, those are really future tax dollars.) ...The people object, despite the best efforts of the Legislative branch of government to do it while attaching "strings," so the Executive branch decides to just git 'er done and prepares to give them the money, anyway.

Flat-out-stupid economic policy aside, I'm looking for one good reason why this isn't fascist. Anyone?

(To put this in context, the "Bailout" - which is finally being examined more critically by Congress - was also forced on financial institutions... this isn't the first time government has said, 'we're your new bosses, and we dare you to object.')

***UPDATE #1***
So now the Senators are "un-American" for voting against it, according to Michigan's governor. Hmm. Really? Does that mean it's more "American" to run an industry into the ground? Or is it the regulation that's "American?" Or perhaps the "I'll sit on my duff and produce nothing but continue to be paid during 'retirement'" Union obligations are "American?" Hmm. Maybe he just means "punishing the entire country additionally for three companies' bad business policy under suffocating regulation" is "American," instead.

***UPDATE #2***
And ooh! Here's a good sign: the Fed won't disclose the recipients of the funds from the "first" Bailout. Hmm. Simultaneously, there are massive fraud discoveries. Hmm. I mean, honestly - who would've seen this stuff coming? ;-)

1 comment:

Jennifer Dunn said...

I liked the point that GM is in better financial shape than our country is in. Maybe "like" isn't the right word. I think it's an important point.