GM needs billions just to stay afloat AP Photo/Carlos Osorio

The Obama Administration is set to give GM another five billion dollars to keep them in business. According to the Heritage Foundation the total amount of the Federal Bailout loans is right around 97.4 Billion dollars when we include Obama stimulus money meant for the carmakers to develop newer cleaner automobiles.

Sure most of that nearly 100 billion total is a loan, and GM and Chrysler are meant to repay it, but how is either one of these companies ever going to be able to pay that money back?

Let us not forget that for Chrysler to even survive they must be bought out by Italian car company Fiat, I wonder if the US government even has jurisdiction to force a foreign company to pay back a very bad debt.

In the case of GM it is even more disturbing. This company lost some 31 billion dollar in 2008. That is nearly twice the loss of rival Ford Motor Company and averaged out over the year it is a loss of 85 million dollars a day.

I see no evidence that GM is a better company today then it was in 2008. Sure there are rumors that there is a group interested in buying up Saturn, sure they could try and dump Hummer, or Pontiac or something else. Those are all what if scenarios and it is far past the time they stop wasting away our tax dollars.

The simple fact here is GM is a bad company, run by people with a failed business plan. Sure Obama fired CEO Rick Wagoner put the actual people who got this company into this mess remain. GM is too large a company to survive. It failed to get smaller, while Ford started doing so in 2006, and therefore should be allowed to die off.

The Obama administration is fooling themselves that they can artificially prop this company up for any significant amount of time. While they are arrogant enough to think they know how to fix this company, I see no evidence that this is the case.

I think it is pretty funny that the Democratic party, funded and supported by the UAW, is willing to sell one American car company to the Italians, and force democrat leaning autoworkers to stomach concession after concession to merely keep their jobs.

I really wonder if all those democrat votes that came from the UAW might have gone to John McCain if they only knew what Obama and his party had in store fro them.

I would bet there are enough would be McCain votes there to overturn the results of the 2008 election. Instead UAW voter effectively voted themselves out of money and in many cases jobs.