Today marks a historic moment...the establishment of the United Socialist States of America.
President Obama, the Chairman of the new Board of Directors for General Motors decided that Rick Wagonner was not going to serve in the capacity of CEO any longer...so he fired him...
Sure, you could have called it (Socialism) in advance, via the Social Security Act of 1935, but much remained of our Free Market system. The same can be said while we delved further with the Great Society Programs, the transformation of our Federal Budget towards Social Spending over the last many decades and even more so when President Bush pressed for a Prescription Drug program...but "we the people" did survive during all these times...
Then came Hank Paulson and his efforts to SCARE the be-Jesus out of the former President and members of Congress...IF we did not not anything...all hell was going to break loose. Janet Daily pointed out a most poignant fact...:"People must not be bullied into believing that economic security must be bought at the price of their political birthright. The operative word in the phrase "free market economics" is "free"."
The fact remains, like most Socialist Revolutions, the means of production were nationalized...today we have the full expression of the US Nationalization efforts...just reflect upon the Presidents own words below...
PRESIDENT OBAMA, the Chairman of the new GM Board of Directors said...
But after careful analysis, we have determined that neither goes far enough to warrant the substantial new investments that these companies are requesting. And so today, I am announcing that my administration will offer GM and Chrysler a limited period of time to work with creditors, unions, and other stakeholders to fundamentally restructure in a way that would justify an investment of additional tax dollars; a period during which they must produce plans that would give the American people confidence in their long-term prospects for success.
He went on to say...
"Because starting today, the United States government will stand behind your warrantee."
Yet, you only have look at who is most at risk IF GM and CHRYSLER were allowed to go into the normal path of companies experiencing problems like these...BANKRUPTCY...Chapter 11, protection from Creditors and the ability to renegotiate contracts...the UNIONs...
the Fed overreach and effort to socialize this industry is simply understood as an effort to protect the UNION class of employees, the solid DEM, OBAMA base of the SEIU, and other UNION money!