As the Obama administration prepares to take office, Democrats on Capital Hill are scrambling to piece together a so-called economic stimulus package with a price tag that could top $700 billion. The centerpiece of this package would be a massive New Deal style program of public infrastructure spending. The fact that this same type of [...]
By some estimates, the federal government has already committed more than $7 Trillion in loans, asset purchases and guarantees in an attempt to bring an end to the global credit freeze. In spite of this unprecedented spending, there has been no measurable improvement in the state of our economy. The fact that Timothy Geithner was [...]
In an effort to gain support for a $25 Billion federal bailout, Detroit automakers are engaging in a shameless disinformation campaign designed to create a wave of panic regarding the economic fallout from their potential collapse. While there is no question that the failure of the Big Three would have a significant detrimental impact in [...]
In 1979, the federal government provided $1.2 billion in loan guarantees to help the ailing Chrysler Corporation fend off bankruptcy. The company was teetering on the brink of failure because it produced poorly designed and poorly built vehicles that consumers rejected in favor of Japanese and European brands. They were failing because they were unable [...]