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Wednesday, November 24, 2010

Should General Motors have been allowed to go belly up?

Photo by John Eisenschenk
The Tea Party thought so. Rick Perry, elected in the midterms to Texas Governor and potential TP presidential candidate in 2012 agrees. Perry is yet another fanatic from that group that wants to get rid of all government, including Social Security. Hopefully, those seniors over age 65 and drawing their SS will realize the stupidity in the backing of the Tea Party. Probably not, since much of this movement is based almost 100 percent on emotional involvement.

In a Newsweek article linked below, Perry poses with a rack of guns, which means he probably doesn’t plan to support gun control. As a matter of fact, the Tea Party has a radical agenda to overturn gun control laws, while its candidates seem to have soft-pedaled the issue during the recent elections. According to a UCLA Today article by constitutional law professor Adam Winkler, “They seek an extreme roll back of the nation’s gun laws.”

With GM in the process of one of the most touted IPOs in history, the government’s investment was a good one, which saved a company and the jobs held by thousands of its employees. Perry doesn’t believe this, nor does he think saving the banking system was a good idea. Most consumers are anti-banks today—and with good reason—but only a fool would think we should allow our entire financial structure to collapse.

The last Bush administration has shown just what will happen when you lift too many government controls and regulations. How many TPs lost their homes to foreclosure? How many TPs lost their jobs due to the collapse of the economy? How many TPs would suffer financially if they did away with Social Security and Medicare? Whatever these people have been told, I haven’t heard one valid solution for any of the above come from any part of the GOP, including the Tea Party.

Read more here and here.

Read UCLA Today article here.


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