President Obama’s auto bailout is being touted as a great success of his Administration. Speaking in Detroit at a Labor Day rally, Vice President Joe Biden used it to explain how Americans were better off. “Osama bin Laden is dead and General Motors is alive,” Biden boasted. In Charlotte, former … More
Did the White House threaten a Chrysler creditor who refused to sign on to the rescue plan brokered by the government? That’s the charge levelled on Friday by a lawyer for the holdout creditors. In an interview with a Detroit radio station, attorney Thomas Lauria said that the investment firm … More
The news of another auto bailout was met with a whimper last week. Surely, the little noticed request for an additional $22 billion was partly overlooked because $22 billion just doesn’t seem like a large amount of money after President Obama spent $787 billion of your borrowed dollars the week … More
Congress is trying to fool you. Here’s how they do business. A piece of legislation is going to cost trillions of dollars, but Members of Congress don’t want the public to see that. Instead, they have the Congressional Budget Office (CBO) look at the bill for just the first 10 … More