The Eclectic One

…Because labels are a poor substitute for thinking

Holy Abuse of Power, Batman!

Posted by Bill Nance on December 12, 2008

Well, sure as Hell, as I predicted, President Bush is going to use the total power ceded to him by congress to do whatever he wants. The latest? Bail out the auto industry, over the objections of the Senate.

The Juice:

The White House said today it would be “irresponsible” to let Detroit’s automakers collapse and suggested it will use a bailout fund it had previously said was not meant for the sinking car industry.

he revised view came the morning after senators killed an effort to provide $14 billion in emergency loans to Detroit automakers when a last-ditch attempt to renegotiate the deal collapsed. The House had passed its version of the measure on Wednesday night but the Senate was unable to follow suit.

“We will consider other options if necessary — including use of the TARP program — to prevent a collapse of troubled automakers,” White House press secretary Dana Perino said today.

TARP was a bad law. It was a stupid idea to give the Bushies, the most incompetent and corrupt administration since Grant, virtual Carte Blanche with $700 billion and many, including yours truly,  said so at the time.

$14 billion isn’t going to help the Big Three. Try $150 billion. This is just the proverbial camel’s nose. And Senate Republicans were right to refuse to go along with the plan.

There’s no way on God’s Green Earth Detroit is suddenly going to get it’s act together just because they get taxpayer money to finance their incompetence. Let it die for God’s sake and let something worthwhile take it’s place. Better short term pain than long-term insolvency which only postpones the inevitable anyway.

When the Democrats start crying foul over this latest move, tell everyone who voted for TARP to STFU. They did it, the Bushies are just doing what every rational person predicted they would in the first place.


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