Media reports indicate that General Motors (GM) will be filing for Chapter 11 bankruptcy at 8am tomorrow (Monday) and, as part of the filing, the government will take control of 60 percent of the company with another ‘investment’ of 30 billion dollars. Chapter 11 is the best course for GM, though most of us had the sense to say this six months ago before the government ‘invested’ billions upon billions of dollars to prolong and delay the inevitable for GM and Chrysler (which went into Chapter 11 a month ago). We will never see these billions upon billions of our dollars again.
Of course the Barack Obama (D) administration has somehow managed to top the unconstitutional ‘investments’ in GM (which started under the George W. Bush (R) administration) with an unconstitutional purchase of 60 percent of the company. Indeed, the government of the United States will soon be the owner of a mediocre, failing car company. I have asked President Obama through an email to explain to me exactly which clause in the U.S. Constitution authorizes the federal government to be in the auto manufacture business, but I sincerely doubt I’ll get an answer from our ‘Constitutional scholar’ president. He knows as well as I do that no such authorization exists, and these investments and purchases of private businesses run completely against the founding principles of our republic.


