Tuesday, November 11, 2008

Over-Regulate, Then Bail-Out

President-elect Obama has laid out his energy and environmental agenda, including:
Obama wants the ailing auto sector to make plug-in hybrid cars and more models that run on ethanol. He proposes a tougher fuel-economy mandate. He plans $4 billion in tax help to retool factories to make advanced cars on top of $25 billion in loans that have been enacted for that purpose. Consumers would get a $7,000 tax credit for purchases of advanced cars.
Edward John Craig responds on Planet Gore:
Obama’s promise of an additional $25 billion-dollar bailout for GM on top of the original $25 billion reveals his economic instincts: regulate companies into non-profitability, then give them government handouts.
If the new federally-mandated fluorescent bulbs that soon will replace good-old incandescents emit less light and prevent me from writing, will Obama bail-out my blog? I hope for such a change.

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