So Much for Not Giving in to Bailouts...

US SEIZES CONTROL OF AIG WITH 85 BILLION DOLLAR LOAN


I guess it really was too much to ask to believe that the Federal Government could avoid bailing out another company, despite its recent decision not to bail out Lehman Bros. Lets see, so far this year they helped arrange a huge loan to Bear Stearns, took over Fannie Mae and Freddie Mac, and now have basically bought AIG. Whats next? Auto Companies.

I know our American Auto Companies are struggling. But the fact is that overseas they are doing very well. Ford is selling great in Europe, GM is selling great in China and a bunch of other places. The problem is here in America. Whats the difference? Here in America the Federal Government tries to tell them what cars they have to make instead of letting them build the cars that people want. They also made bad decisions regarding how they pay their employees, but the main point is that the federal government tells them what they can and can't do with its control over mileage standards and the recent raising of those standards causing the car companies to re-tool their factories and cars at a very high cost. So whats the answer? Apparently its a $50 billion loan to the car companies.

Let me tell you how to save Detroit and $50 billion. Just Get Out of The Way. Stop trying to tell them what they can and can't do and just let them build what poeple will buy. Here's an example. Ford has a diesel engine car in Europe that gets 65 MPG. Where is it in America? No where. Ford is planning on selling a regular gasoline version here in the USA, but it won't get as good gas mileage and they can't afford to sell the diesel version because of restrictions placed on such cars by the ... federal government. I'm sure it is tempting for the Auto Companies to want this money, but heres the thing. Once the federal government "loans" you $50 billion dollars... they are going to expect you to do whatever they want, no matter how bad for business it might be.

We gonna tax those evil rich to buy you a Toaster!

BIDEN: Our tax plan would take that tax cut of another $130 billion that John wants to give to people making over $250,000 next year, not let it go forward and give it to the middle class, the very people who desperately need it to stay in their homes, to buy food, to take care of the gas to fill up their tank, to be able to go out and buy a toaster, to unemployed people.

OOOOkay. So, Obama's plan is to tax "rich" people and "give" the money to the middle class so that they can buy a toaster. Riiiight. I have a better idea. Lets not increase taxes on anyone. People need money for gas? Why don't we try and get some sort of sane energy policy so that we can GET MORE ENERGY. People need money for food? Why don't we stop encouraging fuel companies to put ethanol in our gasoline which has caused the price of food to rise dramatically? Your just gonna give unemployed people money? Why don't we try to have some policies that will encourage economic growth so that those people will get jobs?

Doesn't that sound better than the Obama proposed all-encompassing plan of taxing the rich? That is their whole plan. People need health care? Tax the rich. People need houses? Tax the rich. Gas is too expensive? Tax Exxon (someone explain to me how thats going to lower gas prices?). People don't have jobs? Tax the rich and just give them some money.