The Big 3 Bankruptcy Bash Continues

** Big 3 minus Ford apparently…

Dec. 10: “…it’s time for America to have a real manufacturing policy that says that the maintenance of steel, automotive, aerospace and shipping is seen to be vital to our national security and our national economy.” – Rep. Dennis Kucinich (D. Ohio)

Really, Dennis? Let me consult my pocket sized Constitution the creepy lady at the knitting store gave me…

…Nope. In fact, of the TWENTY Federal authorities listed in that Great Document the only pertaining to national security are: create and make rules for militia, armies and navies, and declare war. As for the economy: borrow and coin money, punish people who counterfeit, and regulate state commerce and bankruptcies.

Aha! Article I Section 8: “uniform Laws on the subject of Bankruptcies throughout the United States.”  But, GM nor Chrysler has filed bankruptcy; only filed for taxpayer dollars to keep them from going bankrupt.

Don Bordeaux, Chairman of Economics at Pro-Austrian George Mason University, explains the MERITS of bankruptcy on the Wall Street Journal

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