During the rather brief and confusing discussion about bailing out automakers President Obama announced with his characteristic misplaced righteousness that we "will not turn our backs on one of America's basic industries." Of course, Mr. Obama and his cheerleaders do not mean that they will dip into their resources and provide help nor do they mention that what he means is that he wouldn't allow any American citizen to do so even if that seems a wise decision. In other words, in his typically collectivist thinking, he believed that his desire to bail out an industry with other people's resources is virtuous and must be made public policy. Everyone else must be forced to follow suit.
Obama hasn't the funds to bail out anyone, of course. In fact, neither does the United States of America, considering that the US Treasury is empty, running on promissory notes, the faith and hope that members of future generations will be productive enough for them to be ready to be robbed of their incomes and savings so as to fund what Mr. Obama believes is important to fund, such as bailouts for banks and car companies. And he proudly proclaims this to be a praiseworthy idea, him using our resources to fund his pet projects. And just when he wanted to capitalize on some minor rejuvenation in the auto industry, that industry started to falter again and cost taxpayers several billion dollars.
Like a monarch, Mr. Obama sees the country's wealth to be his wealth. He has no respect for private property rights – all property belongs, as argued by his favorite political philosophers Liam Murphy and Thomas Nagel (in their book,The Myth of Ownership), to the country and is not the property of the citizens of the country!
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