I warned you yesterday that the Auto Industry Financing and Restructuring Act (the auto bail out) had nothing to do with wanting to create a financially viable automotive industry.
In an interview with 60 Minutes to be aired this weekend, Barney Frank provided another unusual moment of candor. He admits to Lesley Stahl that the bailout is not intended to support the economic viability of the auto companies:
“No. We’re not propping up companies. That’s your mistake,” he tells Stahl, who had asked him about taxpayer money going to prop up companies that had made bad decisions. “We’re propping up individuals. The world doesn’t consist of companies. The world is people. The country is people.”
After Stahl points out that Frank is advocating welfare on a national scale, Frank channels Joe Biden when he told us that we were greedy if we weren’t willing to pay higher taxes:
“Yeah, I’m for welfare. You’re not? Are you for letting people starve?”
Finally, Frank tells Stahl why he doesn’t like the idea of the auto makers going into bankruptcy:
“There’s only one thing you can do in bankruptcy: break your word, break your deals,” says Frank. “It allows you to say to the small businesses who have been catering lunches for you"¦the workers, ‘Sorry, we’re not paying you.'”
The Country just elected a President who, for over a year, campaigned on an unashamed platform of national welfare and socialism. Barney Frank represents the left who clearly believe that Obama was elected to enact the policies he campaigned on.
Obama’s election has allowed people like Frank to drop their guards and talk openly about their desire to trap as much of the country as they can to the mastery of financial enslavement. Sure, they frame it in phrases like “keeping your word” and “I won’t let people starve.” However, if we’ve learned nothing else from over forty years of attempts at social engineering, we’ve surely learned that removing people from the consequences of their actions and telling them that their effort and merit should not be the basis of their success, is as sure fire way to ensure that they never become successful.
I’m still unsure whether Obama was elected for the policies he espoused during his campaign or whether it was a vote that combined historical implications with anti incumbency fervor and a largely undifferentiated alternative candidate. If it is the later, the American people will not support the continued “bail out o’rama” and will provide some backbone stabilization for the Republican caucus in the Senate. If the prior, Frank and his ilk will become more brazen about “to each, according to his need.” If the prior, the answer to “when will the bail outs end” will become “never” because as Frank has pointed out “We’re propping up individuals” and it’s going to take a long time to prop up over 300 million.
