Consistently, 60% or more of Americans have opposed the ongoing federal takeover of the domestic automobile industry. And for good reason, too, beyond the crazy economics of throwing good taxpayer money after bad private failure. TARP money was expressly earmarked by Congress for financial institutions, not auto (or any other kind of) manufacturers, which makes the Detroit bailout not only imprudent but illegal.
Financial industry bailouts, too, have been widely reviled. This past week Michael Moore released the trailer for his upcoming agitprop documentary “Capitalism: A Love Story,” and it’s filled with outrage at the fact that all us working shlubs are, without being asked for permission, shoveling over our hard-earned cash to a bunch of fat-cat Wall Street execs who made bad bets and lost. “Where’s our money?” the fat man asks. For a change, he’s right.
This isn’t about liberal or conservative, Democrat or Republican. A majority oppose Obama’s policies because they fly in the face of this country’s bedrock values of personal liberty and limited government. Robbing Peter to pay Goldman Sachs does violence to that fundamentally American ethos.