The Detroit Dilemma

Rush Limbaugh was sharing an insightful article on what lead to the current plight of the auto industry on his program today. I thought I would share it with you:

• In defense (kind of) of Detroit

UPDATE: 12/11/2008

Well, it looks like the Democrats aren’t off to a good start.
http://www.msnbc.msn.com/id/28166218/

DEMOCRATS: 205 for, 20 against
REPUBLICANS: 32 for, 150 against

Absolutely no surprise, of course, but still disappointing.

UPDATE: 12/12/2008

Here is a visual guide to understanding how the bailout is funded and a couple of financial experts’ take on how it could be funded.

• A Visual Guide to the Financial Crisis:The Bailout

December 4th, 2008  News & Current Events   Tags: auto, bailout, economy, more...

$7.7 Trillion

From Bloomberg: U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

“The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg.”

For the record, folks, that’s roughly half of our 2007 GDP and about three-fourths of our current federal deficit.

November 24th, 2008  News & Current Events   Tags: bailout, crooks, debt, socialism, more...