Just briefly this morning, the Washington Post is running a front-page article that decries the bailout of the Big Three because it looks to many in the UAW like “surrender.”
By the way, they’ve changed the title on their home page a couple of times now. It currently reads: UAW Makes Major Sacrifices; as recently as two minutes ago, the same link was: “UAW’s Sacrifices Look More Like Surrender.” Ok, we know that the headlines change at the WaPo all the time. Some editor reads them and then completely alters them, this is normative behavior at the WaPo now. We also know that in any contest between unionized workers and the market, the Washington Post is going to hold the Union harmless and indemnify them, while lamenting how terrible everything is for them under the jackbooted thuggery of wage slavery that a $70+ per hour gross labor cost reflects.
Still, reading the article and then reading the posts here on Redstate you come away with the feeling that the people in this country are really living in completely different worlds. The WaPo is portraying the bailout as an almost tragic defeat for the Union, a horrible concession by the UAW, perpetrated by the Evil Bush Administration.
Meanwhile here on Redstate, people are portraying the bailout as an historic and almost traitorous defeat for capitalism and a concession by the taxpayers, perpetrated by the Evil UAW and the Democrats and the heedlessly mismanaged companies who deserve to fail, and aided and abetted by the Evil Bush Administration.
The differences between the two schools of thought couldn’t be more stark. The only thing everyone has in common is that they hate the President for it, which tells me that once again, the President has been forced between the rock and the hardplace and is getting no credit from anyone, or pleasing anyone. I think that’s going to be his epitaph, frankly.
At a news conference in Chicago yesterday, President-elect Barack Obama said that workers should not be the ones “taking all the hits” and that all stakeholders “are going to have to play a part in this process.”
I assume by “stakeholders” the President Elect is referring to people who own stock in, say, General Motors. Haven’t they already “taken the hits” — the really big hits? Here’s the 1-year graph of GM’s share price. GM shares have lost more than 80% of their value in the past year. At the same time, the companies are being bailed out with taxpayer dollars and the Union is being asked to accept a cut in pay from $28 an hour to $24, or 15%.
Who is lying, here?