The bailout of GM was not what Americans wanted.

Rasmussen Reports™: The Most Comprehensive Public Opinion Data Anywhere

I read this report from Rasmussesn on the auto bailouts of GM and had to make a comment on it. Americans have opposed the government getting involved with GM and bailouts since it started. Despite our wishes our representatives have poured good money after bad into this fiasco as they hoped that GM would not go bankrupt.

The approval for this was never within reach of any politicians from the American public but they went ahead and did it anyway against our wishes. Now as expected Gm is doing what it should have done months ago in filing for bankruptcy.

So what have our representatives actually done by disregarding our wishes? They have saddled us with a massive debt that can not be paid off by GM so we the taxpayers have to make that pay off because we borrowed the money to give to GM. Gm in bankruptcy is not giving it's assets back to the the people who loaned them money to bail out namely US the American taxpayer. No Obama is giving the lions share of revenue to the UAW. The unions who have supported him in his elections. Another political pay off at the expense of the Taxpayer.

Most troubling about this report is that a full 80% of Americans were opposed t o government involvement with the private economy. Despite this mandate of the people this is exactly what Obama has been doing right along and the MSM has been acting as if it is necessary and approved of.

the 80% rating shows clearly that it is NOT approved of and as far as it being necessary, the evidence of it's surceases being shown with GM this week in bankruptcy court. If our elected leaders had not involved themselves at all from the very beginning when President Bush made the mistake of loaning them $18 billion last fall Gm would have gone bankrupt shortly after that. The market share would have been bought up by stronger companies and we would probably have achieved some normalcy and rebound by this point.

However the renewed effort by Obama has made the situation so much worse. Instead of the market being purchased by stronger companies, they had to compete with a propped up failing GM under government control.
This competition forced them into a position of an artificial market where the playing field of sales and purchases was not even fair or sustainable.

So what has Obama's plan done in the long run?

#1 The bailouts hurt every company that was not given money. They had to continue to try to compete in a market that was infused with borrowed hundreds of billions of dollars.

#2 The bailout was based upon borrowed money guaranteed by taxpayers. This money will not be repaid therefore the taxpayers have to pay higher taxes to pay off this bad loan. (sounds very much like Fanny and Freddie doesn't it?)

#3 The UAW becomes very wealthy by endorsing the person who made all of this possible while the rest of us are left picking up the price tag.

#4 The rest of the industry has suffered for months during this artificially created lean time by the government and their market shares have dropped.

#5 Investor confidence had dropped through the floor. Without investors the free markets can not survive.

#6 In fairness and out of necessity more bail out money has been made available to companies that should have declared bankruptcy.

#7 The government is now an unwitting partner in these businesses and our free enterprise system is collapsing due to the unfair advantages of stimulated economics.

#8 We have entered a downward spiral of companies that can not continue to operate in a positive manner because of the artificially stimulated economy by Obama. It becomes a cycle. Obama gives money to a company. Competitors can not compete. they need money. More money is needed from the government to continua the operation of these businesses. The government buys more of the businesses liabilities on borrowed money. Investor confidence weakens, market shares decline. The company bankrupts.

It will be a never ending cycle until the government either:
A. Gets out of the bailout business. Allowing the free market to work as it should with profitable companies surviving and buying out the market of less sustainable businesses.
or
B. The government controls the interest of all businesses and we become a fascist state that private enterprise operates businesses under all government control. This will include pay and benefit rates, production, sales and quality control.

Seeing how well this experiment of the government has turned out do we really want them getting involved with health care? I say no. The government pays $6,000.00 for a hammer, yet they will tell us what is cost effective?
As stated before in this time of economic crisis, the last thing we need or should want is more government intervention. All it is doing is providing a greater burden on taxpayers, other businesses and making politicians rich.

The data from Rasmussen is located here.