The federal government owns sixty-one percent of General Motors. The other day, amongst much fanfare, the CEO announced that his company has paid back the federal government all that was owed from the TARP loans, and did so five years ahead of schedule. The American people have been led to believe that GM is selling more cars, putting more people back to work, and beginning to rebuild itself to it’s former glory. We are lead to believe that thanks to the federal government and this administration our country is on the right track once again, that the automotive loans were the right thing to do. We are lead to believe that this administration does know what is right for us, that we can trust them with our tax dollars and our health insurance.
Not one word was muttered by federal officials or the CEO about where GM got the money to pay back the loans in such a timely manner. It was assumed they sold a bunch of great cars. The reality is sickening really, yet points to the accuracy of nicknaming GM, “Government Motors.” We have been mislead in the worst of ways.
The money GM used to pay off the government loans came from another government bank account, not from profits made from selling cars. It is just like paying off your Mastercard with another credit card in your wallet and then bragging about your financial condition. We must remember that GM is owned by the government. Moving money around and calling it anything but what it is happens to be what the government does best.
Nothing is ever as it appears when the government is involved, and they wonder why they are not trusted. They wonder why the citizens do not trust this administration when it comes to health insurance, climate bills, or immigration.
Michael Higgins
602.405.8769
An Arizona health insurance broker.