Obama On Bail Outs: Failure Isn’t Possible
Here we go again…. yet another marketing campaign by the Obama Administration to tout bail out packages that has yet to do anything they’ve previously promised (DA Post here) as a rousing success. These silly marketing games seem to work well for politicians, but what logic tells us is that you can’t prove a negative. The Obama Administration can tout bailout monies spent for any reason in to any success they please because proving that it would’ve been better without the money is a nonexistent hypothetical situation for which we can only guess.
& with upcoming elections, for which Democrats currently seem to be in some trouble (polling data here via RealClearPolitics), they will continue this regardless of any true facts which show the opposite. This week, with some gall, they plan to use the auto show in Detroit (here via Policito):
When the president travels to Michigan on Friday, he’ll tout the revival of General Motors and Chrysler since the auto companies received billions in federal aid and government-assisted bankruptcies….
I say with gall, because they fully intend to tout even more success with blown money when the only major car company to NOT take bail out money is doing better than their rivals (here via Star-Tribune):
DEARBORN, Mich. – Four years ago, Ford mortgaged everything down to the blue oval logo to save itself. Now, even as Americans remain skittish about the economy, it’s reaping big rewards and stealing business from stumbling rivals.
Ford said Friday that it made $2.6 billion from April through June, its fifth straight quarterly profit. The company, which reported record losses in 2008, now predicts it will end 2011 with more cash than debt.
With its two longtime Detroit rivals still finding their way after spending time in bankruptcy last year, Ford, which never took government bailout money, extended its success story…..
Yep, instead of using this time to stand up for the ingenuity, the self reliance, the perseverance of private individuals working without taking tax money, they will use this to tell us all how much better off we are than if they hadn’t.
Oh… and in case you might be one of those people who know about Ford’s success, they have an answer for that as well (here via Detroit News):
Washington — The Senate’s top Democrat argued Ford Motor Co. probably would have collapsed if the government hadn’t bailed out its top two competitors….
So there you have it, even with logical evidence to the contrary, not only did the all knowing government help out two companies that are still barely surviving, but also completely fixed a company for which they contributed nothing directly.
July 29, 2010
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Posted by Michael S. Langston
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