You can fool some of the people all of the time, and all of the people some of the time… but eventually market forces will rise up and bite you in the butt.
As predicted, both General Motors and Chrysler are back, hat in hand, asking for more money. This time, taxpayers are not bamboozled by the companies threatening to go bankrupt.
From Rasmussen:
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General Motors and Chrysler are back this week seeking $22 billion more in federal help, but 64% of U.S. voters are opposed to providing any additional taxpayer-backed loans for the embattled automakers.
Twenty-four percent (24%) support more loans for GM and Chrysler, and 11% are undecided in a new Rasmussen Reports national telephone survey.
The poll shows that Democrats support their unions, right or wrong: “Sixty percent (60%) of Democrats say it’s likely the taxpayer-backed loans to the auto companies eventually will be paid off.” Similarly gullible Republicans amount to only 27%, independents 34%.
It must gall business CEOs that their approval rating in national polls has swan-dived below the low, low rating of members of Congress.
Tags: auto industry, bailout, Business, Politics, uaw
