I've been trying to pay less attention to the news these days, now that we are past election season. It's not that there aren't important things happening, it's just that it's so aggravating, what with all the unrelenting stupidity out there.
A case in point, the Auto Bailout, which, you can see in a previous post, I think is a terrible idea, and I laid out the reasons why in that post, but it looks to be going forward in any case. The latest thing is that they are saying that if the Government makes these "loans" with our money to keep the Automakers afloat for some length of time, then the automakers have a set amount of time to come up with a restructuring plan that meets with the approval of the Congress. Great idea, because Congress has proven itself to be such a wonderful planning outfit... but I digress.
They then go on to tell us that we need not worry, because, if the automakers fail to come up with a plan that Congress will approve of, they will have to pay the "loans" back in full, immediately. Sounds great right? How? Isn't that the point of the whole issue? THEY DON'T HAVE ANY MONEY! So how are they going to pay the "loan" back? Who's going to loan them the money to do that?
Isn't it comforting to know that the people who come up with these plans can't even think things that far through before they start spouting off? No? I didn't think so either.
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