Monday, November 17, 2008

Obama's First Bad Idea

I'll let Tom in Paine tell you why a bailout of the big 3 U.S. auto companies is Obama's first bad idea.

As Tom so astutely points out: "GM going into bankruptcy is not the worst thing that can happen. Major airlines have done the same and come out of it stronger and more viable. The possibility of Ford and Chrysler having to merge is also a better idea than throwing tens of billions of taxpayer money at management teams that don't deserve it."

What does Obama say? ""It's my belief that we need to provide assistance to the auto industry".

Great.

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