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Someone owes us a kiss
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Your tax dollars at work for GM!
Wow, what a week its been!
May 17th marked the start of National Small Business Week. The highlight of this occasion was suppose to be an unveiling of emergency business loans of up to $35,000 to small businesses to help with the obstacles presented due to the current economic tsunami.
For reasons that still mystify me, the promised assistance has been moved to supposedly commence in Mid June, with no firm date or details yet available.
On Friday, we learned that General Motors borrowed another four billion (YES 4 BILLION) dollars from the taxpayers; a.k.a., you and me. This statement by GM made me really wince-
"The company didn't publicly disclose how it will use the money but said it provided the information to Treasury officials, and they considered the loan acceptable."
So is this the transparency that we were promised?
On top of this, we also learned that General Motors will most likely need an additional $7.6 billion dollars after June 1st.
Wow, quite a coincidence that this was revealed on a Friday afternoon before a 3-day holiday weekend, and while President Obama was at Camp David, Congress was on break, Americans were tuned out for the holiday, and the media was on autopilot.
So to put this in perspective. Small businesses create nearly every new job in America, and many are dying every day waiting for help, but, General Motors picks up the phone and the Treasury Department shows up with a blank check for them to fill out, and armored trucks filled with cash to do with as they see fit!
According to all news reports, General Motors is expected to file for bankruptcy soon. President Obama, Congress, as well as the Senate is well aware of this. Remember what happened when we gave a ton of money to Chrysler? They too filed for bankruptcy, and thousands of Americans quickly became unemployed and displaced.
Any way I look at this, my fellow small business owners are being screwed. I think that most people agree; after a good screwing, we want a kiss, so, who in Washington is ready to pucker up?
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