Rush’s Morning Update: Legacy
November 20, 2008
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Well, when executives from the Big Three automakers went before Congress this week,their pleas for $25 billion in bailout money were met with disdain. In a moment of supreme irony, Connecticut Senator Chris Dodd, who chairs the banking committee, scolded the auto execs,telling them there was no way they couldn’t see the crisis coming. The auto industry, he said, is “seeking treatments for wounds” that are “self-inflicted.”
Now, keep in mind: Not only is Chris Dodd one of the Democrats responsible for the entire financial meltdown, he personally benefited from sweetheart deals on his own mortgages.
Folks, watching US senators scold the auto industry over what they “should have seen coming” is laughable! True, automakers are stuck with unsustainable legacy costs: paying massive benefit packages for former union employees who no longer produce,as well as “job banks” that pay union workers almost full salaries for not working –not to mention government mandates that worsen their cost burden.
But look at the “business model” of the US government –Social Security, Medicare, all the Big Government entitlement programs are unsustainable! They pay for people who don’t produce,and we’ve all known what’s coming down the road. But under the rubric of “hope and change,” we’ve been promised a bigger dose of the same: brand new programs using the same failed model, with more powerful unions to boot!
The biggest threat to our economy is not our automakers– but the legacy of liberalism. Learn it, love it (well, don’t love it), live it!
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