And here we are, 143 years after it was to have died, watching it grow.
So when I read about a government effort that is supposed to be temporary, I strap myself in for a long, long ride.
In this morning's Roanoke Times:
Government MotorsRight. Temporary. But only if Obama is soon driven from office. He has every reason - 50 billion of them, and counting - 464,910 loyal UAW members, and counting - to perpetuate the gift-giving. And no real good reason to stop.
General Motors has essentially been nationalized. With the bankruptcy of GM that includes a second bailout from the taxpayers, the government stake in the once mighty American manufacturer is $50 billion and 60 percent of the equity in the corporation.
If this was expected to be a permanent situation, then those accusing President Obama of being a socialist-gone-wild might have a point. But the president made clear this is a drastic but temporary measure, and the United States will divest itself of its share of GM as soon as it is feasible. [link]
So, if he's made emperor-for-life, as I suspect he may, we will see government ownership extend into coming decades.
150 billion ...
150 trillion ...
On and on and on and ...