Yesterday the Democrats pushed hard for extending the bailout to automakers. Personally I am against all bailouts, as I believe the markets will self-correct. There were many companies who were doing quite well during this financial crisis, and the bailout was an over-reaction on everyone’s part. Worse, I think the bailout was a huge step toward socialism. And now the Democrats want to deepen the government’s hand in America’s pockets, I mean…institutions. New potential victim? The auto industry.
The lure is that the taxpayer will be investors in the automakers. Yippee, I can now take my money from a good performing stock, and put it in a “government business“, particularly given the government’s track record for performance. Let’s peek at the government’s mutual fund portfolio, shall we?
- Welfare -38%
- Medicare -47%
- Social Security broke!
- Postal System -43%
- Public Schools -71%
- Prisons -53%
- Financial Bailout -82%
- Military +7%
- 2% Social Security since the average Black man doesn’t live long enough to collect (I know, none of us will!)
- 3% Medicare, because I look forward to socialized medicine
- 10% Postal System, because I love the efficiency and the constant cost cuts
- 35% Prison, because I need to invest in my people.
- 35% Welfare (see Prison)
- 10% for Public Schools, because I can’t afford to send my kids to The Lab School
- 2% in Financial Bailout, since Blacks don’t save
- 3% for Military, since I don’t anticipate President Obama really protecting me