"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."
--Joseph Stalin

Saturday, January 31, 2009

GM Sending Tax Payer “Bailout Money” to Brazil

Will Malven

We knew that the Big Three bailout package was a bad idea, now we have proof.

Apparently GM's financial balance sheet wasn't quite as bad as we were led to believe by Democrats in Congress and GM's corporate management.

The Latin American Herald Tribune has announced that GM is investing $1 billion in their Brazilian operations. Here's part of the article with the usual link:

General Motors to Invest $1 Billion in Brazil Operations
Money to Come from U.S. Rescue Program

By Russ Dallen
Latin American Herald Tribune staff

SAO PAULO -- General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."

"It wouldn't be logical to withdraw the investment from where we're growing, and our goal is to protect investments in emerging markets," he said in a statement published by the business daily Gazeta Mercantil.

Wouldn't it be nice for American taxpayer dollars intended to "save American jobs" were actually spent in America to protect American jobs?

Thank President Bush for this obscenity. To be sure, it was the Democrats in Congress who pushed the Big Three bailout hearings and urged President Bush to make the loans, "to save American jobs," but it was President Bush who instructed Hank Paulson to take the funds out of TARP. We were told that GM wouldn't last out the quarter without the billions of dollars in "loans" they requested, so after Congress (Republicans) refused to pass the aid bill, President George W. Bush pulled the $9 billion out of the TARP fund.

This was another "URGENT" spending request from the people who now talk with such urgency about spending $1 trillion to stimulate the economy. Any time the people in Washington tell us that something is urgent, we American citizens had better hold on to our wallets.

So now we are supposed to trust these same people to wisely spend $1 trillion of our taxpayer funds? These are the "wise" administrators of our tax dollars who are now telling us, "Just trust us."

A long time ago Ronald Reagan said:

"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'"

Maybe we should pay attention to what he was attempting to tell us. Ronald Reagan was right, big government is the enemy of freedom and liberty. I would add, it is also the enemy of rationality.

We now have a perfect example of what happens when the government spends our tax money precipitously. We get unbridled spending with insufficient or non-existent safeguards to prevent things like this from happening. Now due to the infinite wisdom of our leaders in Washington DC, $1 billion in our tax money is going to Brazil to save Brazilian jobs.

Is it time for the pitch-forks yet?

Long Live Our American Republic!!!!

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