Obama’s Union Led Auto Bailout Costs Jobs
As time goes by the Obama bailout of GM and Chrysler proves to be a bigger boondoggle to taxpayers and the private sector. Both these companies where and still are riddled with horrible union contracts and poor management. If both where left alone to go into bankruptcy they could have terminated the terrible union contracts and purged the companies of to many middle managers. Instead tax payers where fleeced out of billions to support union supporters of the Democratic Party. The capitalist system tends to purge bad companies and reward well run business. Government intervention just drives us deeper into debt and postpones the inevitable. How many times is the taxpayer going to bailout Chrysler, bankruptcy and reorganization would of cut the fat and given these companies a long term shot. Instead investors and dealers got screwed while unions and incompetent management where rewarded. The guys who dragged the companies down prospered while taxpayers an investors got screwed. The Obama administration is loaded with socialist and elitist and devoid of capitalists. Its amazing how the media continues to fail at questioning the reasons why the economy and country continue to crumble. Our enemies are bolder and stronger, our economy continues to shed jobs and our debt is reaching unsustainable levels. The total lack of capitalist in the Obama administration is only going to continue are economic meltdown and destruction of the middle class.