GM Seeks Further Bailout

Does GMAC (General Motors) deserve another $5+ Billion dollars of our tax monies to keep them operating and alive? I do not think so. The US government has already spent $12.5 Billion dollars trying to help this car manufacture and I think that there must be a time to pull the plug. The actions of the government have no precedent for what is taking place. This is the first time that the Federal Government has gotten involved with subsidizing a single company. This is one huge step towards socialism. Then if one adds into the equation that of what President Obama wishes to do to healthcare and we will become a socialized government.

Government is suppose to stay out of private industry, yet under President Obama, he keeps putting the government into the affairs of business, healthcare, telecommunications and the Internet. Where will this madness end? What must we do to protect ourselves from turning out like all these other socialized countries? I hear the arguments, what is the harm? Is he not trying to make this a better country to live in? We all need health care! Gm employees thousands of people, who is going to protect their jobs?

Looking at GM for a prime example, why are we worried about protecting jobs? This company has done nothing to help themselves stay competitive. For that matter nor has the unions. I know, there are a number of people that will be offended because I am so called picking on the unions, but hey... let us look at the record. GM employees people that are working on a manufacturing line making 70, 80, 90 thousand dollars a year for what really in a free market would pay about 35 to 35 thousand a year. I am not against the union trying to fight so that people are treated fairly, have good working conditions, etc. But I think we need to draw the line on wages and how that effects the big picture. If these people were not making 70, 80 or 90 thousand dollars than the price of the cars would be lower. Thus allowing Gm to be more competitive against foreign automakers, thus allowing GM to manufacture more cars, which in turn leads to more jobs.

Let use also look at the argument of how many people GM employees, we know from information from the IRS that 95% of all jobs in the US are from small businesses (under 50 employees). This does not sound like the majority to me, rather the opposite. Sounds to me that the government is trying to protect the interest of a few. If 5% of jobs are from larger corporations and with the vast # of corporations in this country how many jobs is the government trying to save? Without hard numbers from GM and so forth I would have to estimate that the government is trying to save ½ of 1% of the 5% of jobs. Let me put this into perspective. For example if there 100 million jobs nation wide, 5% (what is found in corporations) would be 5 million jobs. ½ of 1 % would be about 25 thousand jobs. So does it seem right that the government is spending $18 billion dollars to save 25 thousand jobs, when those monies could be spent to help small businesses that employee 95% of the people?

On a final note it seems only fair to me that if the government is using our money to bail out GM, that we (all Americans) really are share holders of GM. It is our money that the government is using; why not give us all stock certificates to show fairness to the American people. $18 billion dollars divided by 300 million people equals about 60 shares of stock per each man, woman and child in America. I want my shares of stock. I think this is a fair way to keep the government and GM accountable to their actions. So let's say that GM wants to have majority control of the company, they would need to find a way to buy back the stocks that are outstanding. Or once GM pays the government the monies owed, then the government has the responsibility to collect and pay the American people for their stocks. How about it America, would you like to own stock in GM? I think we do, just need to paper to go with it to make it all legitimate.

Mr. President Obama, can you send us our stock certificates? You spent the money, now it is time to write out the I.O.U.'s that the people deserve.