More government distortions of the marketplace - this is supposed to make it better?
Remember a while ago that Chicago plant that closed and its employees illegally took over the building? And all the media and pols went "gaga" and how the company so poorly treated its employees? How DARE a company that could not pay payroll keep that plant going!!
When Bank of America closed its line of credit, Republic Windows & Doors closed the doors. Yes, they failed to abide by the law and give proper notification to its employees. That said, when the expected financial rug got yanked out from underneath them instead of being there as a cushion, what else could they do?
JPMorgan and BofA finally did come up with the money (plus a bit more) ostensibly with a "loan" (which never will be repaid). Problem was with this - the force of government was brought to bear on the bank. The message? "You will give them that money or we yank ours". Talk about having the financial gun stuck to your head (hey, its just the Chicago way, eh?)!
Just weeks after the economic stimulus package spent billions on what the administration hoped would be massive job gains, Vice President Joe Biden Sunday hailed the re-opening of a Chicago factory as early evidence the stimulus plan is working.
In a statement released by the White House today, Biden commended owners of Republic Windows and Doors, a Chicago company that had closed down late last year, for re-opening the plant and rehiring 250 employees.
"The reopening of this factory and the rehiring of these workers provide an excellent example of how the money in the Recovery Act is targeted to spur job creation quickly," Biden said in a statement. "These workers will not only earn a paycheck again; they will go back to work creating products that will benefit America’s long-term economic future."
...The company was eventually sold to a California company that makes efficient windows. The new owners, Serious Materials, have said the stimulus plan will increase demand for their products thanks to money earmarked for modernization of federal office buildings.
"The economic recovery package has recreated a market for energy efficient materials that virtually disappeared as our economic crisis deepened," added Sen. Dick Durbin (D-Ill.). "With $16 billion available for weatherization programs, companies like Republic will be able to reopen their doors and put people back to work."
Ask yourself - The Stimulus will provide a temporary effect - the government will need their product. Given the staggering amount of debt that is coming at us like a rushing freight train that will have to be paid by a staggering raising of taxes, who amongst us will be still purchasing those kinds of products? Add to that the proposed lowering of the mortgage deduction which will make our homes worth less and the absolute tanking of the economy as the Producers go to the sidelines to let the Obama economic train wreck pass them by, who will buy their windows?
At some point, the market distortion will disappear. Then, when this artificial "bubble" blown up by government deflates, will I again be able to answer the question
The question we ask today is not whether our government is too big or too small, but whether it works"
-President Barack Obama, 1/20/09
with a "No"?
Yes I can, and yes, I will.
