Government bailouts to rescue failing companies who made bad choices has reached record proportions. I have spoken on the constitutional issue of this—there being no constitutional grounds for such bailouts. Few people are considering the moral issue. I know many believe that keeping these companies afloat, bailing out GM, intervention in Chrysler and the money poured into the financial industry are keeping people employed and therefore moral actions. Actually they are theft.

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It is official, General Motors has declared bankruptcy and when restructured the US government will own 60% of the company. Of course General Motors and Barack Obama are defending this saying that it makes a GM vehicle a better choice because your warranty will be backed by the US government. One thing not being brought out is the constitutional ground for such an unprecedented action. There is nothing in the Constitution that permits the US government to invest in any business in this way. Think about it, the largest American auto maker is largely government owned.

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