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biggest welfare recipients

Reuters reports that the US govt. will divest itself of it's/our remaining GM stock by the end of this year. We appear to be losing only 10 billion (billion with a B!) on the swap which took place to prop up a floundering general motors during last economic downturn. Anyone that has a gm vehicle purchased since 2009 should be able to recognize socialism at its best and welfare at it's worst!

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BA Deere
Honored Advisor

Re: biggest welfare recipients

The thing with the whole General Motors debacle was unsustainable retirement pensions were what broke the company in the first place.  The bailout was more about bailing out the corrupt union than saving the auto maker.  Don Kraft will cuss and throw furniture around that "whatever was agreed upon has to be honored by the company, even if taxpayer dollars are used to do it".   But plain and simple you can not run a company where there are too many chiefs and not enough indians.


To get our manufacturing base back, I would favor sensible bailouts that would not involve old pension plans, that is what broke these companies and taxpayers have NO obligation to continue them.


GM is a good company and if the fed is going to print money and we are going to run $1 trillion annual deficits and a $17 trillion national debt, bailing out our manufacturing base isn`t the stupidest way to spend that deficit, just not the damned pension plans that got the company in the mess in the first place. 


Even companies like Solyndra, if solar was a good deal and that was a good company (it wasn`t) I would favor projects like that.  With windmills, I don`t know if they are the wonderful thing or not, they sure are noisy, even a mile away.  And if the gov dropped it`s subsidy, they`d flop too.   Which is a shame because those are high skilled domestic jobs and the wind is free.


It`s good to hear that Winnebago motorhomes is going into the old Cummins plant in Lake Mills 🙂  

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Esteemed Advisor

Re: biggest welfare recipients

Wonder what the  R. O. I.  is for the Bagdad investment  - 3 trillion  X  O  =  ? and another number of the Fed. Reserve  fo 0 % to the to big to fail banks which might have to big to sustain retirement perks - just wondering if these might enter to the total also ?  

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