GM sinks Bush legacy even deeper
One of the last and most foolish acts committed by former President George W. Bush was to send billions of dollars of taxpayer money to General Motors Corp. in order to keep the sinking automaker afloat a while longer.
Nearly every Republican in Congress warned Mr. Bush that sending additional funds to Detroit was “good money chasing bad.” Everyone but Mr. Bush knew that those billions would not be enough to save General Motors and that there was virtually no chance that any of the so-called “loans” would be repaid.
It should come as no great surprise, then, that General Motors is, in fact, on the cusp of bankruptcy and the American people are about to be left hold- ing the bag for another Bush mistake, this one to the tune of $13 billion.
According to news reports, “General Motors Corp.’s auditors have raised ‘substantial doubt’ about the troubled automaker’s ability to continue operations, and the company said it may have to seek bankruptcy protection if it can’t execute a huge restructuring plan.
Once again, the legacy of George W. Bush as the “worst president in U.S. history” has been confirmed.
Even more tragic is the fact that Mr. Bush’s failed presidency continues to give “cover” to the liberal administration and Congress now in power in Washington. John W. Lillpop San Jose, California