…And Barack Obama Decides The US Government Is Going Into the Auto Warranty Business…

Not sure what other signs we need that Obama is pursuing a national-socialist economy, but his latest hare-brained scheme is to get the US Government in the auto-warranty business…

I guess Barack Obama can add another title to his portfolio, Car Czar

ABC

One, the president will announce a new government-backed warranty program for all new GM and Chrysler vehicles purchased during this restructuring period. A fund will be set up equal to 125 percent of the total cost to pay for warranty service.  The auto makers will contribute 15 percent while the government will provide 110 percent, with the money coming from the economic stabilization funds, the gift that keeps on giving. A separate company will hold the funds and pay the claims even if one of the auto manufacturers goes into bankruptcy or out of business.

Ed @ Hotair put it best:

And let’s not forget what this will do for Detroit’s competitiveness.  Now that warranties will get funded by Uncle Sam, what do you suppose will happen to them?  They’ll get shortened, and if they become uncompetitive, it will literally take an act of Congress to get longer warranties offered by Detroit.  But that’s not what willreally happen.  If the Directorate of Auto Warranties discovers that the competition offers longer and more robust warranties, the Directorate will simply get Congress to pass laws outlawing them.  After all, we can’t have a bunch of furrinersundercutting Uncle Sam, can we?   Why, that would be downright unpatriotic!

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