President Obama recently terminated Rick Wagoner, CEO of General Motors. Now, Wagoner may have deserved punitive action for his failure to lead the giant auto maker through the latest government created financial crisis. But did he really deserve to lose his job? If so, why not apply the same logic and get rid of Obama too?
Look at the federal government’s actions for 1st quarter 2009. Their $3.6 trillion budget plan projects a deficit of $1.4 trillion for fiscal 2010 and $3.95 trillion from 2010 to 2014. Incredibly, the Office of Management and Budget titles the bloated spendapalooza, “A new era of responsibility”. Billions of taxdollars have been handed over to private banks and AIG. Billions more were given to automakers. Billions are in the budget for new government programs. In the midst of this orgy of spending, Obama and his merry band of socialists are busy trashing American business as the ‘cause’ of all our economic troubles.
And don’t you love Obama playing the big shot President of the United States? It’s like something out of a fantasy socialist reality TV show. Here he is ‘firing’ the CEO of GM. A CEO who spent a lifetime of creating real jobs and real value for shareholders. What has Obama done to deserve to tell GM how to run its finances? Let’s see. He spent 20 years walking the Chicago slums creating unrest as a “Community Organizer”. And he taught a bit on the Constitution. (On how the Constitution is a flawed document). Business experience? Uh- anybody got anything? Oh yeah – he was a lawyer for awhile.
But back to GM. They made a deal with the devil – the US government. Now they are paying the price. This is what happens when you do business with the US government. Don’t forget however that GM created hundreds of thousands of jobs. They sold millions of cars. They endured endless government meddling, regulations, and taxes. Foreign competitors hacked away at their market share. Through all this, they managed to make payroll and until recently, a profit.
Our federal government on the other hand, never has to worry about pesky profits or where they’ll get the money to float their endless spending programs. First, they have the military. So when they demand that you pay up – you pay up or else. Another special resource at government disposal is the private Federal Reserve. It’s like having your own money machine right in your basement. But you can’t have one – it’s only available to huge spending profligates like the current Keynesians taking up space in the White House. When they promise you a huge free program like health care – why they simply print more money to pay for it. Or they suck the taxpayer dry like a spider on a fly.
If the federal government had to conform to regular accounting principles like the businesses they publicly trash, they would be bankrupt. Compare the finances of the US government to those of GM. If GM CEO Wagoner needed to go, so does Obama. He’s no better.