When President Obama “saved” America’s automotive industry by giving it to the United Auto Workers, he didn’t think taxpayers were on the hook for nearly enough cash. In an effort to throw more good money after bad, Obama created the Car Allowance Rebate System (CARS), giving $3,500 to $4,500 to individuals for their clunkers when buying a UAW-built car. The Democratically controlled congress allocated $1 billion for the program. As of Midnight July 31st, the program went bankrupt. Sorry Obam-erica, it looks like you’ll have to keep driving your clunkers. This is just the beginning of more of the same. How long before the other “stimulus” programs run dry?
The question Obam-ericans need to ask themselves is this: “With the nation’s unemployment rate nearing 10%, how many real jobs could that $1 billions have saved?” Now think of all the other Obama "stimulus" programs and multiply that number several trillion times.
Obama’s critics limit their condemnation of the president for his petty displays of righteous arrogance – like the recent flap over the arrest of his Harvard pal Professor Henry Louis Gates. In reality, Obama’s showcases his arrogance in the grand way he reallocates of our nation’s dwindling wealth into stupidly wasteful government programs like CARS. If the U.S. government had this much power 100 years ago, the automobile would have never been invented. Instead, much of the economy would have gone into useless scheme like a National Aging Gelding program (NAG).
Like it or not, America’s automotive industry is spent. All King Obama’s horsemen and all of his knights can’t put Humpty Dumpty industries together again. In the capitalist system that Fidel Castro, Hugo Chavez and Barack Obama despise, free people invest their dollars in areas of the economy that offer the best prospect for growth and profits. In an imperfect world, its the perfect system. Castro, Chavez and Obama, on the other hand, divert other people’s money to constituents that keep them in power. That’s why banana people’s republics, like Cuba and Venezuela, have no bananas – their wise leaders are too busy “investing” the nation’s wealth in “stimulus” programs. If Obama continues to burn our nation’s wealth on mindless government programs, the 90-mile voyage from Cuba to Florida in a leaky inner tube won’t be worth the trouble for that rare Castro refugee yearning to breath free. Instead, he will stay in Havana, laboring to keep the communal 1956 Chevy in operating condition. Now that I think of it, we could sell him vintage auto parts from Obama’s billion-dollar clunker collection.
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