Obama Administration Announces Unprecedented Gesture of Generosity

The Obama administration has declared an end to tax payer bailouts of struggling corporations and in a historic move, has declared that the staff will use their own money to save GM. This is truly remarkable, and shows the generous and selfless nature of the Obama administration staff.

Don Boudreaux from Cafe Hayek has more:

Here's a letter that I sent earlier this week to Barack Obama:

30 March 2009

Mr. Barack Obama
President, Executive Branch
United States Government
Washington, DC

Dear Mr. Obama:

On your website today you write that "my administration will offer General Motors adequate working capital to continue operations for the next 60 days." Because you're a man of your word and you choose your words carefully, I trust that you mean here that you and the public servants in your administration will personally pony up the working capital for G.M.

That is, like, soooo cool!!

I'm psyched that an American president and his administration finally will help a struggling company by digging into their own pockets! Thank you, thank you, thank you for breaking with the capitalist/GOP/"free-market-fundamentalist" tradition of forcing me and other taxpayers to shovel money into the bank accounts of giant multinational corporations. Thanks for risking only wealth that is your own, rather than following the prescription of lazy-fairies like Milton Friedman who (I learned in my sociology classes and from reading Naomi Klein) believed that innocent taxpayers should be forced to serve Big Multinational Corporations.

I'm so inspired that you and your White House teammates will give G.M. the bucks it needs - give them from your own private funds rather than take them from from taxpayers! That's just, like, so progressive! What a change! I believe in it!

Sincerely,
Donald J. Boudreaux