Obama "Upbeat" About GM. And the Middle East Peace Process.

Katherine Mangu-Ward | June 3, 2009

President Barack Obama, according to a headline in The New York Times, is "Upbeat for G.M.'s Future."

That seems a bit, well, wacky. But then, this is the same guy who is "upbeat" about the Middle East peace process, according to AFP. So that puts the remark in perspective, I suppose. After all, as Justice-to-be Sonia Sotomayor now knows, context is everything.

Over at Out of Control, the Reason Foundation's Shikha Dalmia, with some entertaining snippiness followed by good economic analysis of G.M.'s situation: 

"I am confident that the steps I'm announcing will mark the end of the old G.M., and the beginning of a new G.M.," [Obama] said. Great! Then what do, we, the taxpayers, who have just been forced to fork over $50 billion to G.M.—in what is it? loans? stock?—have to worry about? The president is cool with it. And he, after all, has an Ivy League degree, a silver tongue, not to mention a glamorous wife with lovely arms who dotes on him. But even His Awesomeness can't command a drowning man to swim after tying lead weights around his ankles.

The president seems to think that there is nothing that G.M. has that a visit to bankruptcy court won't cure. Amputate its liabilities to bondholders, excise all its promises to unions (no, actually, scratch that one, that didn't quite happen) and, presto, it'll be ready, once again, to kick some foreign ass.

If only!

Read the whole thing, and stay tuned for an upcoming cover package on the GM fiasco in our next print edition.

Comments

|6.3.09 @ 5:39PM|#

Barack Obama is not retarded. He's just an arrogant twit who having never run a goddam thing in his life, is certain he can run everythig.

P.S. Any replies to this comment will most likely consist of ad homs, as libertarians concede my points and show their childish, anti-intellectual nature.

Hammered Head|6.3.09 @ 6:10PM|#

Sorry to disagree, but I cast my vote for retarded.

|6.3.09 @ 6:15PM|#

JsD:
Leftists in general are arrogant twits whove never run a goddamn thing in their lives and think they can run everything.

Are there any libertarians who would disagree with you on that point?

|6.3.09 @ 6:24PM|#

That picture is... disturbing. I'm not sure I want to know what either he or the little girl (?) are doing...

¢|6.3.09 @ 6:31PM|#

Wait.

Is there a "Tards are happy about imaginary shit all the time" comment missing, or did the thread just start with "He's not retarded!" on its own?

I like that.

Brian Defferding|6.3.09 @ 6:43PM|#

Great picture.

|6.3.09 @ 7:00PM|#

That picture should be in the Post Office.

|6.3.09 @ 7:03PM|#

Karl,

We're all waiting for Barack's Lewinsky to come on scene. This might be premature.

|6.3.09 @ 7:05PM|#

J sub D,
Couldn't agree more. The fact he is a megalomaniac with a messiah complex is truly frightening. One hopes the fall comes sooner than later.

|6.3.09 @ 7:06PM|#

But even His Awesomeness can't command a drowning man to swim after tying lead weights around his ankles.

No, but he can force random bystanders to buy him enough lifejackets to almost tread water. (Made in the USA by union workers, of course)

Bingo|6.3.09 @ 7:54PM|#

a megalomaniac with a messiah complex

Describes both Bush and Obama. Of course, who but a megalomaniac with a messiah complex would want the job of president?

JB|6.4.09 @ 1:08AM|#

Sounds like he is still doing drugs.

That or he really gets off on fisting himself.

Gilbert Martin|6.4.09 @ 9:11AM|#

I caught a snippet of Obama speechifying in Egypt on TV this morning.

He was talking about countries that respect the "rule of law" and "equal justice".

Ask the Chrysler and GM bondholders about Obama's respect for the rule of law.

And his choice of Supreme Court nominee shows how much he thinks of "equal justice"

|6.5.09 @ 10:29PM|#

Karl,
Thanks for the laugh!