Comment: The truth is always the best place to start

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The truth is always the best place to start

and truth is GM is going to fail no matter what. The companies liabilities are growing a pace that is much faster then any hopes for revenue growth. For ever worker GM has today they are paying pensions and health care for 2.5 retired workers and that number is just going to go up. Simple economics is that you can not spend more then you make and survive. GM could cut spending with layoffs and downsizing so that the size of its company is in accordance with its needs of production based on demands for its products and use profits to develop new products that have a greater demand. A company should only be as big as the market demands and needs the ability to react to the market. The problem with GM and other US auto makers is that they have liabilities unrelated to the free market. They have to pay 2.5 people not working before they get around to paying 1 person that dose. GM's oldest retiree will be 110 years old this year. The employee worked for GM for 32 years and has been collecting pension and health benefits for 47 years. Some of these problems are the same problems America itself is looking at when they look at Social Security and health care. GM and the US Government promised a benefit when they thought people were going to die at 67 and business and government plans are a mess because people lived longer. If you look at what GM wants 50% of the bailout will go to just benefits programs just for this year. I am sure they will be back next year asking for more. The sad fact is that big business and big government are going to crash because we have been for too long based on the idea that we should give up control of our lives to the people at the top. Lets not worry. Spend your money now because when you retire you will be taken care of. That spending of the money dose grow the economy when the young spenders greatly out number the retired and the retired will die off fast, but when they out number us 2.5 to 1 and health care cost have gone up so much we are Fu@ked and so is GM.