December 12, 2008

Bailouts: The New Patriotism

Gov. Jennifer Granholm of Michigan, who basically has been a "kept woman" of the United Auto Workers, declares that the recession will become a depression because the U.S. Senate yesterday did not bail out the auto companies. She called the failure, "Un-American."

Michigan Gov. Jennifer Granholm (D) said it was "un-American" for senators to have voted against approving a bailout of troubled automakers last night, saying their vote may cause a recession to become a depression.

"It is unacceptable for this un-American, frankly, behavior of these U.S. senators to cause this country to go from a recession into a depression," Granholm said during a radio interview Friday morning.

Negotiations over an agreement to assist Michigan's Big Three stalled last night in a 52-35 vote on a procedural motion to bring up the package for a vote. Republicans largely opposed the bill after it failed to win concessions from the United Automotive Workers union on wages and benefits.

“It is such an unbelievable stab at workers across the country,” Granholm added. “You give this big bailout to these financial institutions–don’t ask a single question, they can do what they want–and then you lay the blame for the auto industry, which is a victim of this financial meltdown, on the backs of the people who are working on the line.”

Gee, hoodathunkit that asking people who are making more money than the vast majority of people in this country, and whose wages and benefits are the chief reason GM and others cannot stay afloat, to take a wage cut would be the kicker to throwing a country into a depression. Of course, almost all of her statement is a howler of Paul Krugman proportions.

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