2008 Libertarian Party vice-presidential nominee Wayne Root blogged today against the federal takeover of General Motors; excerpts below. Separately, Root announced that the first guests on his new talk radio show will Ron Paul and Judge Andrew Napolitano of FOX News Channel.
From Root’s blog entry:
Government only survives by confiscating money from smart people in the private sector to pay for its mismanagement, waste, corruption and nonstop failure and losses. Government runs Social Security. It is fast approaching bankruptcy. Government runs Medicare. It is fast approaching bankruptcy. Government runs education. Education runs through tens of billions of dollars each year and yet somehow manages to produce worse results virtually every year (and always demands more as a reward for utter failure). […]
Government took over Amtrak in the same way it took over GM, promising a quick return to profitability. Amtrak bleeds losses every year for the U.S. taxpayer. In 1970 when Amtrak was founded, $300 million was approved by Congress to run it. The government predicted profitability within 5 years. That was 39 years and over $30 billion dollars in losses ago!