Friday, November 14, 2008

Bailout: This Far, No Farther.

In his 1996 State of the Union speech, President Clinton said that "the era of big government is over". It probably pained him to say it, but that was where the political winds were blowing. Twelve years later, the federal government is the biggest player in the residential mortgage market and has set aside $700 billion dollars to bailout banks and other providers of credit. All of this comes after the Feds bailed out an investment bank and purchased a majority share of the world's largest insurance company. Not saited, the Democrats now want to bailout U.S. automakers. If Clinton were President today, he probably would say that "the era of big government is finally here."

The Democrats don't want to bailout the automakers, they want to bailout Big Labor. They also want to remake the auto industry into a liberal utopia where people work a 6 hour day, 4 days a week, building tiny, unsafe, electric cars with a top speed of 53 miles per hour that have to be plugged into an outlet every 6 hours to recharge. And not a normal outlet - one of those giant ones for your washer or dryer.

If the Democrats bailout Detroit, who will be next? The airlines? The health care insurers?

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