Boycotting Solipstocracy: Government by the Unitary Self
“From the beginning, I made it clear that I would not put any more tax dollars on the line if it meant perpetuating the bad business decisions that had led these companies to seek help in the first place,” he said. “I refused to let these companies become permanent wards of the state, kept afloat on an endless supply of taxpayer money. In other words, I refused to kick the can down the road.”
To prevent GM from becoming a ward of the state, Obama made it the property of the state.
“I decided then,” said the first person in chief, “that if GM and their stakeholders were willing to sacrifice for their companies’ survival … then the United States government would stand behind them.”
Here, I, Barack virtually identified himself with the United States government.
There you have just five of the “I”s that Terence Jeffrey counted in President Obama’s speech about his administration’s takeover of GM. Jeffrey goes on to ask an important question:
He did not say he would ask Congress to enact legislation to provide the executive with the funds needed to purchase 60 percent of GM or with the legal authority to restructure the company and oversee its business plan.
He said: “I decided then … the United States government would stand behind them.”
Remember: In December, Congress specifically declined to enact legislation authorizing the president to bail out the auto industry–let alone to purchase an auto company. What law now gives Obama authority to buy General Motors? The White House says, when pressed, it is the Troubled Asset Relief Program. But that legislation was written specifically to allow the Treasury Department to purchase assets from “financial institutions.” It says nothing about buying auto companies.
Ever since I began my all-too-American aggregation of debt with the purchase of a brand new Pontiac Grand Am GT on a fish huckster’s wage, I’ve owned GM automobiles. Each time I’ve bought one, I’ve had a few thousand dollars worth of points from my GM credit card. Unless Ford or some Japanese automaker begins accepting those points, I’m afraid they’ll be going to waste; I can’t in good conscience support the machinations of a president who pats himself on the back for “deciding” that and how “stakeholders” in a private company should “sacrifice.”