2019: The Future of Doctors Under Obama Universal Coverage for Health (O.U.C.H.)

The year was 2019, in the third term of the Reign of Obama the Secular. Owing to an extreme left wing Supreme Court stacked with four Obama appointees, who managed to declare the United States Constitution itself unconstitutional to the extent that it limited the ability of the Great One to serve no more than two terms, Obama was well on his way to becoming the first President since Roosevelt to be elected to four terms.

A generation that voted for free stuff in 2008, 2012, and 2016 begat another generation of voters who wanted free stuff. In time, the number of voters expecting free stuff—and knowing they would get it from Uncle Sugar—reached a tipping point. They soon outnumbered those who worked, paid taxes, and created jobs. For the next decade they continued to vote for politicians who promised free stuff.  Of course, this ensured that the King of Free Stuff, Obama the Secular—who never met a government program he did not like—would be re-elected for life.

By 2019, the government had acquired Government Motors—which produced the Obamobile—a tinny scaled-down, politically correct Smart Car powered by chicken manure, which got 150 miles per gallon and rode two people and one sack of groceries comfortably. If you did not hit anything harder that a marshmallow, did not want to ride farther than ten miles, and did not need to carry anything, the Obamobile was great—and guaranteed not to crush you in an impact less than 5 miles per hour.

The government also owned the press, which had willingly volunteered to merge into a new federal agency comprised of ABC, MSNBC, CBS, NBC, named “The Department of ObaMedia,” whose mission it was to announce the whereabouts and accomplishments of the Great Leader, do Obama Infomercials and feed the people news as to any new government controls on their lives.  All banks were nationalized and combined into one mega bank—“ObamaNational.”

Via: Canada Free Press

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General Motors 2: The Strengthening of the Strength is Strong & Stuff

Regular Red State readers know how much fun I’ve had covering the auto industry in recent years. From Obama’s push for newer, tougher CAFE standards on a struggling industry to GM’s crony CEO Dan Akerson. From the Chevy Volt’s fits and starts to GM blowing tax dollars onbonuses, marketing schemes, and ideologically-driven “green” projects.  I even had the honor of  being attacked by Attack Waaaaaaaaaatch probably because I wrote about GM’s special tax gift, as well as the fact that I’ve been caught parodying GM ads and clips.  To put it mildly, it’s an issue I’ve followed closely.

It would all be funnier if none of it was true.

But maybe I’m wrong. Maybe “Government Motors” is over. Maybe, once Treasury sells off its remaining shares, GM will magically become a pioneer of free market industry, worthy of its storied legacy. Maybe, just maybe, GM will begin to appeal to anti-bailout conservatives & libertarians again one day. Take, for example, GM’s new Chevy Silverado commercial, “Strong”:

Doesn’t it make you feel warm? “He,” whoever he is, shows up to work on time! And he’s monogamous! He has a barn, and he works on a farm and stuff! You can totally trust him – he’s steady!  Like a Chevy truck, obviously. Nashville artist Will Hoge, a hip, edgy, self-styled musical pundit, recorded the music for the ad.

‘Murica, y’all.

GM knows conservatives are a huge target market. That’s why they sponsored a “Free Enterprise tour” with the U.S. Chamber of Commerce this summer (which was rightly mocked by the National Legal and Policy Center), and that’s why they made this ad. I’m curious what readers think: are you more or less likely to buy a GM truck because of the GM bailout?

Via: Red State

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TARP and GM

In December of 2008, GM approached Congress and asked for a bridge loan to allow them to restructure. While the House passed legislation to accomplish this, it was not passed through the Senate. Days later, the Bush administration initiated a loan through the TARP program which would provide $14 Billion in loans and stock purchases to GM and follow many of the guidelines that were sought in that legislation. This included a restructure plan that would have to be approved by the Obama administration.

In February of 2009 GM presented their plan to the Obama administration. The plan was seen as preferential to union workers by bondholders and many stated their intention to oppose it. In March of 2009 President Obama announced that he was not accepting the viability plan put forth by GM, but that he was authorizing more funds to keep the company afloat. President Obama also initiated programs to provide funds to companies that supply parts to GM and Chrysler.

GM was placed into bankruptcy on June 1, 2009 and the company was supplied with an additional $30.1 Billion dollars, bringing the total loans and stock purchases to $50 Billion. The company was made a private entity at that time.

The bankruptcy restructuring plan agreed upon by the government and GM gave the US government a 60% share in the company and gave the Canadian government a 12% share. The United Auto Workers gave up a health and savings plan worth $20 Billion in exchange for a 17.5% share in the company and over $8 Billion in debt and preferred stock. Bondholders held $27 Billion in stock prior to the collapse and received only a 10% equity share in the new GM company. 

Throughout the bankruptcy process, President Obama stated that he had not desire to run a car company and would not interfere with daily GM business. This is at odds with numerous actions taken before and after the bankruptcy filings.

• Days before GM was placed into bankruptcy, the Obama administration demanded and received the resignation of company CEO Rick Wagoner.
• The Obama administration pushed for the closing of numerous GM dealerships
• The substance of the bankruptcy settlement was heavily tilted to favor unions - a result that many people suggest would not have occurred without political motivations
• The bankruptcy settlement allowed the US government, the Canadian, and the UAW Union to appoint chairs of the board - an action that would directly change the direction of the company for years

The TARP program established specific rules on what could be purchased with the funds. These rules stated that only Preferred Stock or Common stock without voting rights could be purchased. The reason for this was to prevent the government from controlling a company it purchased stock in through TARP funds. President Bush violated those rules when he used the money to provide a loan to GM. President Obama further violated those laws when he purchased stock in the company and used the ownership of that stock as authority to appoint board members. The creation of programs to give funds to companies simply because they depended on GM and Chrysler for business was also not allowed in TARP documents.

Via: The Political Guide

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