Oh, boy…
Congress and the White House inched toward a financial rescue of the Big Three auto makers, negotiating legislation that would give the U.S. government a substantial ownership stake in the industry…
House Speaker Nancy Pelosi touted the notion of a “car czar” Tuesday to supervise an auto industry bailout…
A “car czar?” Just what country are we living in? And here I thought that people had learned their lesson that central planning doesn’t work. The national government has just partially nationalized the banks, and now it seems intent on partially nationalizing auto producers.
Originally, I didn’t think we’d be in for much of a recession, relatively speaking. But federal politicians seem absolutely intent on mucking up the economy as much as possible, which could well put us in a long-term slump.