As GM and Ford Go, So Go the Nation

Today's announcement that Standard and Poor's had basically trashed the two auto companies' credit rating, with more than 10x more debt than collateral just didn't strike me as a surprise.

It's sad, yes, but this is Mr. Bush's American economy and in it, there is spend spend spend and no concern about debt. Well, no concern about debt except for those of us struggling to get by, watching companies go ballistic if you're even one day late on a bill. Funny when the big companies are paying their debts more and more slowly. I'm sitting here begging for people I worked for in January-March to pay me now that it's May.

The automakers' debt situation is far better than the U.S. government's, where Mr. Bush has become the single biggest spender on any president since the 60s. And remember, the '60s were still relatively boom times. We don't have boom times now. And when we spent in the 60s, it was on real people and real programs. Mr. Bush can't make that claim. Bush pays cronies for homeland security, and we're less protected than we were before 9/11. Meanwhile, the airlines are safe from old ladies with lighters.

So if you're one of those who think Ford and GM are just limited case scenarios and not indicative of a much bigger problem, I've got bridges in Brooklyn, swamp land in Florida, and rattlesnake gulches in Texas to sell you at a really great price.