Safe Money and the Plain Truth

Why the financial services industry is stacked against the American Retiree

“Cash For Clunkers”—A great success…Gimme A Break!!

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This week, Congressman Gary Peters from Michigan, called the “Cash for Clunkers” program “…great economic stimulus” and “it created immediate jobs.”  He went on to say, “The whole idea of ‘cash for clunkers’ was to act as priming the pump and get people back into showrooms. It was very successful at that."  Well you know what I say…gimme a break!!

I added up all of the money that the government has given to GM and Chrysler….$125 Billion.  And just this week, congressman Peters sponsored HR 3246 which will provide another $2.9 billion to the auto industry to research “alternative energy vehicles”.  The faucet in Washington just keeps running!! 

As I was reading about this situation earlier today I saw a comment from someone only identified as Bobby P. that said, “This is a temporary fix, and those given jobs will lose them again. What a colossal waste of money! This is not a stimulus plan; this is a giveaway of tax dollars. How stupid do they (legislators) think we are? A stimulus plan should not be called such until one invests capital to improve processes or a creating a manufacturing base of which we have little.”  Couldn’t say it any better myself…thanks Bobby P.

Of course I don’t have a crystal ball, but my guess is that taxpayers will never see any return on the money given to the automakers.  All of these programs like “Cash for Clunkers”, the real estate tax credit, and the free money we’ve given banks is nothing more than a temporary prop.  Politicians claiming victory have only created an artificial environment to operate.  Think about it….these clowns won’t show a profit for years…how could they when they’re:

1. Operating on taxpayer monies.

2. Advertising with taxpayer monies.

3. Giving incentives with taxpayer monies.

4. Paying Union Wages and Corporate Salaries with taxpayer monies.

Under these circumstances I think we could all run a profitable business.  Congressman Peters needs to lay off the Kool-Aid they’re serving on capitol hill.

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Written by brantleyw

September 18, 2009 at 10:35 pm

Posted in Uncategorized

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