This is a sad day for America. It’s sad not only because a great company that once stood as a global symbol for American prosperity has declared bankruptcy, but also because our government is now the majority owner of the nation’s largest auto manufacturer. A few months ago, the argument was “they’re too big to fail.” Now the argument is “in for a penny, in for a pound.” This bothersome trend highlights our continued slide toward European socialism.
Washington politicians have continuously proven they are incapable of managing our economy, and now they’re asking us to trust them to manage General Motors? Just last week President Obama told reporters “we are out of
money.” So where is this latest check coming from? We’re borrowing it, folks. And the more we continue to bail out mismanaged companies, the more we put future generations of American taxpayers into greater debt to foreign nations like China.
Today I sound the alarm because the United States of America just became majority owner of the nation’s largest auto manufacturer. The free-market, conservative foundation that made America the world’s symbol of prosperity is quickly disappearing. Somebody has to stand up and fight this government take over of private business, and we have to be that somebody. The stakes are too high to sit on the sidelines and just let it happen.