On June 1st General Motors will become "Government Motors."  That won't be the official name, but since the United States has pumped $20 billion into the company and is expected to give an additional $30 billion, the name seems fitting.  By the way, the government will own 72.5% of GM once all is said and done. 

     I don't know about you, but this situation makes me sick.  For months, GM did not want to enter bankruptcy protection because of the effect it would have on customer perception.  Well, after billions of taxpayer dollars, their CEO being forced out by the Obama administration, and essentially a government takeover, GM will soon be officially bankrupt. 

     This could have all been avoided if GM had just filed for bankruptcy last year, just like other companies have done when they had financial problems.  The company could have reorganized, and probably would have been able to do so without the help of the tax dollars.  Because of their poor decision, our economy takes yet another step toward socialism.  Thanks GM!