Friday, April 24, 2009
Here is why some Tea Party protestors gathered and shouted: General Motors gets another $2 billion in taxpayer money on its way to bankruptcy
For some reason, MSNBC decided Janeane Garafolo was an appropriate political analyst to offer a sane comment on the reason behind all the taxpayer Tea Party protests on April 15.
And Garafolo, who was an abject failure as an Air America radio political host, went on to label all protesters as racists, that there only reason for protesting was that a black man was in the White House.
The insanity of that remark would make Charles Manson blush. And it is indicative of extreme comments I find more common from the Left than the Right. That MSNBC would air the kind of caustic crap reduces the little credibility it has with Keith O. and Rachel M. rattling on.
The reason for the protests, at least how I viewed them, was the derelict amount of spending in Washington to bail out an entire industry and corporations that made arrogant mistakes and in some cases committed fraud. I don't believe in corporate welfare or socialism.
Meanwhile, people paying their bills and doing the right thing get nothing as unemployment rates in more states hit double digits. Tennessee is at 9.6 percent.
Yet today, the U.S. Treasury announced that it has given General Motors another $2 billion in taxpayer money for working capital. This is a company headed to bankruptcy. It is like giving a person who is going to drink and drive an extra gallon of gas.
Who voted for Barack Obama to bail out the AIG of automakers?
Despite what Garafolo and MSNBC say, there remains plenty of reason to protest.
WASHINGTON – Taxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court.
The Treasury Department said Friday it lent the additional money to GM on Wednesday to provide working capital. The loan pushes the total amount of GM's government aid to $15.4 billion after the company said it would need more money in the second quarter to stay afloat.
A government report revealed earlier this week that the Treasury was prepared to provide GM with up to $5 billion more in federal loans and Chrysler with up to $500 million more in bailout support as they race against deadlines to restructure.