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The president’s plan for General Motors and Chrysler, announced yesterday, continues to get top billing in the press. Obama took a hard stance with the struggling automakers, giving GM 60 days to come up with a viable, not to mention drastic, restructuring plan, and Chrysler 30 days. If the companies fail to do this, he would allow them to file for bankruptcy. The New York Times reports that, as a result, the United Automobile Workers, which along with bondholders has thus far "balked" at the GM’s demands, "will be asked to make even bigger concessions on a new wage and benefits contract and health benefits for retirees. Bondholders will most likely be forced to accept a deep discount on the price of their debt as well as agree to take GM stock in lieu of debt repayments." In addition, Chrysler must merge with Fiat by April 30, Obama said.

The beginning of total government control, by a fanatic mulatto marxist

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