Bailoutarama – First the banks, now the cars, who's next?

Maybe the DNC; check out this email from Obama’s uber-campaign manager David Plouffe.

Friend —
Our friends at the Democratic National Committee laid it all on the line to bring change this year.
We’ve been reviewing the books, and the DNC went into considerable debt to secure victory for Barack and Joe. It took unprecedented resources to staff up all 50 states, train field organizers, and build the technology to reach as many swing voters as possible.
It worked.
But it also left the DNC in debt. So before we do anything else, we need to help pay for this winning strategy.
Make a donation of $30 or more now and you’ll get a limited edition 2008 Victory T-shirt.
The DNC’s 50-state field strategy was crucial to our campaign’s success, as well as victories for Democrats up and down the ballot. Their organizing infrastructure allowed us to compete — and win — in states that seemed insurmountable just four years ago.
They took out substantial loans to make it happen. The DNC didn’t hold back, and now, neither can we.
You were there for this campaign when we needed to reach out to more voters and compete in more states. Now we’re relying on grassroots supporters like you to come through for this movement once again.
We’ll get to work transforming this country. But first, we need to take care of the DNC.
Please make a donation of $30 or more today and receive your Obama Victory T-shirt:
Thank you for everything,
David Plouffe
Campaign Manager
Obama for America

Can we take care of the DNC first? Yes We Can!
How about we fix the liquidity problems by selling off Obama brand name products?
Union guys who helped elect Obama can surely afford a few more t-shirts. Check out how the UAW fixes up the members.
Charles Martin points us to a brief but fine analysis by Larry Kudlow at National Review of the bailout biz. Kudlow point out how much the Big (shrinking) Three pay their employees versus the competition.

Total compensation per hour for the big-three carmakers is $73.20. That’s a 52 percent differential from Toyota’s (Detroit South) $48 compensation (wages + health and retirement benefits). In fact, the oversized UAW-driven pay package for Detroit is 132 percent higher than that of the entire manufacturing sector of the U.S., which comes in at $31.59.
I don’t care how much money Congress throws at GM. With that kind of oversized comp-package they are not gonna be competitive. It’s throwin’ bad money after a bad cause. What a way to start the new Obama era.

Billion t-shirts should cover it.

6 thoughts on “Bailoutarama – First the banks, now the cars, who's next?”

  1. Minty

    I wonder if someday, this will be considered one of the turning points in world history.

    Not someday… TOday.
    This marks the end of the era of debt fueled living. We were living off Asian savings and now that’s gone. Minus a few blips credit is going to be tight for decades. America as we knew it is gone forever.

  2. Total compensation per hour for the big-three carmakers is $73.20. That’s a 52 percent differential from Toyota’s (Detroit South) $48 compensation (wages + health and retirement benefits).

    Unions have failed. The public school system and slow death of the American auto industry over the past thirty years prove this.

  3. Meanwhile, China is proposing a $586 billion bailout of their much smaller economy. All that national saving will finally pay off for them. I wonder if someday, this will be considered one of the turning points in world history.
    I’m actually looking forward to the day when China takes its rightful place as a global superpower, to help stabilize the world Finally all those yapping thugs with great power pretensions in the Middle East and Russia will have to focus their attention on a country other than the U.S. – a country over which they have zero leverage.

  4. At the end of WW2 Hitler sat in his bunker ordering armies that no longer existed to save his crumbling Reich.
    It’s the same thing now.
    Paulson is moving chairs around on the deck of a sinking ship. We are flat broke folks. FLAT FREAKIN’ BROKE! We can print all of the pesos we want but it won’t make us any richer. Even if they bail out all of the banks and car companies will it change anything? How many people are shopping for cars right now? Massive layoffs are plant closures are coming.
    Chairman of Goldman Sachs expects that economy will get worse than great depression.

    “I think it would be worse than the depression,” Whitehead said. “We’re talking about reducing the credit of the United States of America, which is the backbone of the economic system.”
    “I see nothing but large increases in the deficit, all of which are serving to decrease the credit standing of America,”

  5. I always said, if the big three want a bailout, they should be required to terminate all union contracts.

  6. Two comments:
    First: I’m speechless and really have no response. I’m unfamiliar with rules/laws regarding campaign donations and/or unspent campaign monies, but Obama raised an unprecedented $700+ million. Shouldn’t he be able to use any leftover monies to donate to the DNC to help them out? After all, they helped get him into office.
    Second: a friend posted this link in Facebook regarding General Motors. This article ( from a couple of years ago describes how GM spent $17 million a year on Viagra; yet, they keep losing billions per year…go figure!

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