Government involvement in the American auto companies has resulted in not only the demise of the companies involved, but also many billions of dollars in taxpayer-funded “bailouts”. While President Obama touts increased jobs at every turn, his actions in throwing money at the troubled auto companies (with the claim that bailout was absolutely required to keep them from going bankrupt) has resulted in the worst of both worlds – not only have billions in national debt been incurred, but the companies are still going bankrupt! With Obama’s administration taking controlling interest and orchestrating the bankruptcy, the unions of course incur a less severe impact.
Meanwhile, part of the bankruptcy actions involve canceling hundreds of franchises to independently owned automobile dealerships, even many that are viable, profitable businesses! As a result, thousands of jobs (mostly non-union, of course) will be lost. How is this called job creation by any stretch of the imagination?
And now we’re left with GM being controlled by the Obama administration (who know absolutely nothing about managing any company) and they are proceeding to even define the cars that must be produced… never mind the questionable market demand for these products.
It would have been far better to “keep” the many billions of tax dollars in the first place and simply let our free enterprise system work the way it is most effective. Capitalism quickly punishes the companies that become poorly managed, and the more healthy, robust companies emerge to survive. But the Liberals just can’t keep their fingers out of business operations, and look at what we’ve ended up with!