First the banks. Then the “plan” to take over private industry Health Care. Now he’s fired the GM CEO because he “feels that Wagoner’s plan is not a good plan”. Where in the constitution does it say that our government has the power to make BUSINESS decisions for private companies?
What will today’s announcement do to competition outside of the big 3 in the auto industry? These other manufacturers, who also employ plenty of people in the US, were just beginning to get a leg up and offering great consumer choices with low prices. But how can they compete fairly when our President has announced special incentives for consumers to purchase big 3 autos? He says their warranties will be “fully backed by the US Government”, and people will get tax breaks and other incentives if they buy these cars. Can the government even do that??? How is it constitutional to enable special advantages for these companies “backed by the government”. Wait…I’ve heard this before…oh yeah, that’s what financial experts testified to Congress during this whole bank bailout thing – that you cannot have a level and fair competitive playing field when you give the impression that any specific company is “backed by the government”
You know, I’ve owned my Subaru Forester for 10 YEARS and it’s still going. I was happy to see them, among others like KIA and Hyundai, thriving in this environment by being creative. But who knows what will happen now? I hope I won’t be forced to buy a GM when I’m ready to turn in my beloved Subaru.
Obama Sets New Deadlines for Auto Restructuring