GM's Impending Bankruptcy

It is going to be very interesting in early June when the expected GM bankruptcy becomes reality. We will find out at that point exactly how much control over the automakers the feds bought with all that ill advised bailout money, and also how much control over the Democrat party the unions have purchased with their monolithic voting habits.

One of the most interesting outcomes to examine will be the way in which the pensions for UAW workers will be handled by the government. Clearly the pensions are not sustainable and were a large motivator of the auto maker's ailing bottom line. However, union members voted overwhelmingly for socialist Democrats, and this bailout plan will be approved by the socialist Democrats elected into office.

Will the average American taxpayer, whose retirement is headed into the dumper, be forced to bail out the unsustainable pension obligations owed to the en masse Democrat voters of the UAW?

Time will tell.