- The Washington Times - Monday, December 29, 2008


Tuesday’s Editorial page cartoon has the taxpayer saying to General Motors Corp. and Chrysler LLC, “You’re risky, but I’ll give you a loan.” It was a good cartoon, but like nearly all media coverage, it was misleading about the money the government is handing out to financial institutions, car companies and others.

That money is not, in fact, coming from the U.S. taxpayer. No political figure of either party has suggested a new tax to cover bailouts. Suggesting a tax increase in America is political suicide. Instead, the government is borrowing the money. We should all be asking - What will happen when the government is able to borrow no longer?



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