This is what annoys me about Liberals. They act like they have the best interest of everybody. Doubling down on caring, he says he wants to duplicate the bailouts for EVERY industry.
But what they won’t tell you is their kind heartedness would be an economic mess for our country.
Breitbart reports that bailing out every industry would cost $17 Trillion dollars.
The entire GDP of the country is about $15.6 trillion. If we applied the same ratio of bailout-to-revenue to the country as Obama did to GM, we’d only have to spend about $17 trillion this year on bailing every industry out. After all, we do want to be fair, don’t we? In 2011, the federal government spent about $3.6 trillion. So just multiply our federal government spending by 472%, and Obama’s dream becomes a reality.
Which brings us to the ideological problem. President Obama, in this quote, moves from simple corporatism – the notion that the government should pick winners and losers in particular industries, which is nasty enough – to outright Marxism. Not every industry needs a bailout – but according to Obama, it wouldn’t be fair if some industries got bailed out while others didn’t. Everyone must be bailed out. Spread the wealth around, and everybody’s better off.
Aren’t you tired of these Liberals trying to take the moral high ground? And don’t you want to see more Conservatives stand up to them?