Mr. President (for the next 30 odd days): On Thursday evening last, after the Old South raised its long-forgotten head and nuked Congress’ bridge loan to the American auto industry to oblivion, in a way that the cannon of Fort Sumter could only dream of, you said that you were “prepared” to help us. It’s now late Monday night, more than 4 days later and unless the check got lost in the mail, you haven’t done anything. Anything at all. Are we to exercise the patience that Alfred Doolittle in Pygmalion requested of Henry Higgins, while he thought he was bargaining to sell off his only child? You’re willing to help us; you’re wanting to help us, you’re waiting to help us. If you’re prepared to help us, just what are you waiting for? Why can’t you or your Treasury Secretary just pick up a pen and write the damn check.
Never mind that you’ve done this already more than once with absolutely no strings, conditions or even “plans” from the Wall Street gangs. Never mind that an industry that not only puts food on the table for tens of millions of Americans and has done more to create the middle class and the small business class that you’re repeatedly said are your concern is on the brink of catastrophic collapse. Never mind that too many Republican have obviously sold their souls and a few other things to foreign companies, who are already showing that when push comes to shove they will act, as they should, in their own county’s best interests. Just today, Toyota announced that it is halting construction of its plant in Alabama that was to build the Prius. So, how many Alabamans won’t see one of those “competitive” paychecks your Congressional cronies have been slamming our compatriot automakers about? How much longer do you think it will take Kia to realize that continuing to build a plant that is to produce a SUV just doesn’t make any economic sense, despite all the tax dollars and other goodies that have been thrown at them?
There’s no escaping it: you’ve betrayed your country even worse than Benedict Arnold. I just hope we’re still around when the President-elect is supposed to take office next month.
The Laffer Event Horizon? - Reading Jon Chait this morning: With predictable fury, supply-siders have denounced this heresy [that Reagan-era supply-side policies might not be optimal ...
1 hour ago