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we marched right in there, we can march right back out.
it's not that complicated.
Only difference ... when we marched in, Iraq had a stable government and a trained military ... even if the country was controlled by a dictator.
Now we destroyed their government, and left the country in a shambles.
Until Iraq has a stable government again, and has a trained military that is able to defend the new government, America has a responsibility to help keep their citizens safe.
As I previously said, Bush broke Iraq, and now it's America's job to fix it, regardless of who is the current President of the U.S.
...and a very unique bankruptcy it was. Bondholders and taxpayers got screwed so that 48 year-old union retirees could KEEP their full pensions, instead of getting pro-rated down by the PBGC. First time in history that happened. WOnder how all the steelworkers and others who worked for bankrupt companies feel about paying taxes so the special pets of Barack Obama could get their special treatment.
And did the union get thrown out and replaced by market-priced labor? Heck no! The Auto Czar acted if workers were scarce and capital abundant, instead of vice-versa. At a point when capital was scared to death, the administration dramatically worsened things by running over the secured lenders to Chrysler and the bondholders of GM.
There was a middle choice between no government involvement and the giant slush-bucket union payoff we ended up with. I tend to think no government involvement would have been best, but the multi-billion dollar bones thrown to the UAW and its benefit plans, and saddling the new GM with continuing pension obligations, was over the top.
Bottom line, it is no longer possible to pay people more than they are worth, not in the global economy, over the long haul. But the Obamanomics auto bailout ignores this fundamental truth. The companies are doing well now, but I wonder what the 2030 bailout will consist of.
Not in the normal sense, a bankrupt company would not receive loans from the federal government, but they have bailed out airlines and banks in the past.
I seem to recall when some thought de-control of banking in the 1980's was a good idea. The Continental Illinois bank received a $5 Billion bailout, that was a lot of money back then. I don't recall anyone calling Reagan a dictator and accusing him of cronyism.
we marched right in there, we can march right back out.
it's not that complicated.
No it's not complicated if you don't care about the Iraqi people that risked their lives for a democracy. Maybe the solution is to just sit back and let our 10 year investment in lives and money just crumble before our eyes, not sure the American people are ready to watch Vietnam part 2.
Only difference ... when we marched in, Iraq had a stable government and a trained military ... even if the country was controlled by a dictator.
Now we destroyed their government, and left the country in a shambles.
Until Iraq has a stable government again, and has a trained military that is able to defend the new government, America has a responsibility to help keep their citizens safe.
As I previously said, Bush broke Iraq, and now it's America's job to fix it, regardless of who is the current President of the U.S.
america has no such responsibility.
they had corruption before us and they will have corruption after us.
Once again your ideology gets in the way of the facts.
According to Bloomberg, while the government would lose $9 billion selling the remaining shares at the current share price, "The U.S. would have lost $28.6 billion in spending on social services and missing tax revenue if not for the bailout of GM."
And... it's a gift that keeps on giving. GM and its employees will pay taxes next year, the year after... etc.
Whether the government takes a short-term $14b hit now as long as it builds jobs and further revenue for the further.
I think you have to put down your political swords on this one. GM remaining in business has to be touted as a good thing for America...
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