Proof that government handouts work

Johnny Wingnut
fuddwantsThis just in from the AP: “More than half of all homeowners who had their loans modified to make the payments more affordable in the first half of the year are already in default again.” Imagine that. This is exactly what any normal well adjusted intelligent human being would expect. Yet, somehow Uncle Sugar never saw it coming. And that’s not the worst of it. They plan on rewarding the attendant bad behavior of mortgage holders by giving away more of your money.

One article had the audacity to print this “The main goal of the program is to get financial institutions to lend money more freely again, which would help revive the economy.” Yeah…that makes a lot of sense to me. Let’s “lend” (wink wink, nod nod) more tax payer money to those who can’t or won’t pay that money back. I mean, it’s working already isn’t it?  This is insanity.

And now the Bush administration with the connivance of liberal democrats are poised to lend tax payer money to the auto industry. This is all under the auspices of saving jobs. Jobs for which employees are overpaid, CEO’s are overpaid, and for a company infrastructure which has failed to remain competitive. I’m wondering, if the auto industry was ever going to get their act together, wouldn’t they have done it already?  So why or how is another taxpayer funded handout going to get them to fix their broken machine now? Here, I’ll make a little prediction: This loan isn’t going to fix anything. It’s just going to prolong certain death. Just as the $700 billion bailout isn’t fixing anything, but only prolonging the inevitable. The reason none of this is going to work is because bad choices (behavior) is largely behind it all. The money won’ t change the behavior that led lenders into the shape they were in. It won’t change the behavior of irresponsible mortgage holders and it won’t change the behavior of the fat cats running the auto industry. It will merely enable these people to continue behaving in ways which harm themselves and others.

But even if these spending policies worked. Is it right to give away someone else’s money without their consent, especially, when that money is being used to enable the bad choices of others? I don’t think so. I think what our “representatives” are doing is morally wrong and I am outraged. You should be too.

Still, our fearless leaders press onward seemingly oblivious to the fact that the house is coming down all around them. They remain deaf to the cries of a majority of Americans who are begging them to, “Please, for the love of God, STOP!” Their stealing from public coffers so they can sink their teeth into private enterprise won’t save them or us. What it will do is make things worse by enabling mediocrity at taxpayer expense. Yes, it’s sick; it’s obscene; it’s immoral…and what’s worse is that, practically speaking, those of us who are paying the tab are powerless to stop it.


~ by johnnywingnut on December 16, 2008.

2 Responses to “Proof that government handouts work”

  1. Oooh, I’m first! Whopee!
    Hmmm. Now I guess I have to say something intelligent.

    The best I can offer about the Big Three is that if they go under, and all signs are they will, the unemployment comp will exceed the bailout. Unemployment comp further won’t equal their biweekly paychecks, so they won’t be spending much, and may even lose their homes or not be able to pay rent. Don’t know if they’ll lose their retirements, but if their pensions aren’t covered, that will a long term problem for them and the taxpayers.

    If the Big Three are saved, will it be temporary and they’ll still go under next year? If not, my guess is their union will be busted, making this the largest union bust in US history and set a precedent since folks are so hard up for work they’ll work under any conditions.

    Between a rock and a hard place is where Americans are now.

  2. These bailouts show that capitalism is not about “progress” but rather hinders it. All these jobs we’re “saving” are part of an industry that needs to evolve. By bailing out the Big 3, we’re at best treating the symptoms but not addressing the disease. The market is not regulating itself. And isn’t it funny how the same elites who for decades have profited from the “free market” ideology, can’t line up fast enough to partake in pissing it down the drain? THEY are the reason it won’t work–because the masses are & always will be dependent on the rich to maintain their hatred of taxation regardless of who are the beneficiaries. It turns out, however, that all those whiny WASPs who bitch incessantly about “entitlements programs” are suddenly warming up to the idea of “redistributing wealth” via government handouts.

    And, no, Unemployment comp would not come close to the $14 billion we’re pumping into an obsolete industry; we could even invest the balance in R&D projects that will wean us off of gasoline.

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