Thursday, April 15, 2010

Taxpayer Bails Out GM, Part Two -or- Ford Advertisement

Happy Tax Day (prounouced "guvmintsezfuday") everyone! To commemorate this special occasion, here's some news you probably didn't want to hear as a taxpayer: Last year, Uncle Sam (pronounced "taks-pay-ur")
gave GM some $58 Billion - yes thats a "B" - to keep the giant automaker in business. (To put this in perspective, you could buy 2.74 Million brand new full-size Chevy pickup trucks with that money - wait that's still a big number isn't it? How about 384,000 eighteen wheelers!) Well at least after you and I bailed out this horribly inefficient company that wasn't building cars Americans wanted anyway (as evidenced by its ever-declining market share) and the government renegotiated its UAW contracts, giving it a competitive advantage over the only Detroit automaker that didn't take government money, we are off the hook for giving it any more money, right? Wrong. Now it looks like we'll be on the hook for its pension plans, which are underfunded by some $27 Billion - another "B". Remember in November! Vote out the bums that decided we should provide the fruit for the lack of GM's labor! Additionally, vote with your pocketbook and buy a FORD; in addition to not taking T.A.R.P. funds, they match or beat Japanese quality!

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