Hat tip to Mobrey…
Remember as you read the following, that the sole purpose of a business enterprise is to make a profit and increase shareholder equity. Even the revenues of a charity must exceed the expenditures.
Social Security: President Roosevelt signed the Social Security Act in August 1935. Part of President Lyndon B. Johnson‘s “Great Society” program. Social Security was changed to withdraw (borrow) funds from the independent “Trust Fund” and put it into the General Fund for additional congressional revenue.
How well has that congressionally monitored government run program worked ?
Amtrak: The National Railroad Passenger Corporation, doing business as Amtrak, a government-owned corporation that was organized on May 1, 1971. All of Amtrak’s preferred stock is owned by the U.S. federal government. Critics of Amtrak, which is federally subsidized and has neither made a profit nor met ridership projections in its 37-year history….
How well has that government owned business worked out?
United States Postal Service: The United States Postal Service (USPS) is an independent agency of the United States government. As a frequent patron of the USPS I have no complaints about the service or the cost but as a capitalist I find it a bit disconcerting that the government continues to run the organization at a perpetually enormous loss.
Excluding the acceptable performance, how well has that government supervised enterprise worked out .
Fannie Mae & Freddie Mac: The Federal National Mortgage Association, nicknamed Fannie Mae, and the Federal Home Mortgage Corporation, nicknamed Freddie Mac, have operated since 1968 as government sponsored enterprises (GSEs). Congressional interference in the 90s led the banking industry to write sub-prime mortgages that resulted in the housing crisis.
How well have those government sponsored enterprises worked out?
Banking and Investment Cos. Start with the Savings and Loan Crisis of the 80s which decimated the commercial real estate market and the construction industry.
How well did the government intervention work out?
Now, move to the current bailouts of banking and various investment companies. The initial course of action was understandable to alleviate the frozen financial markets but the continued intervention has failed to control the hemorrhaging in the real estate or loans markets.
How well has more government intervention and control worked out?
No comment on the bastardized relationship between Treasury and Federal Reserve
GM (Government Motors) and Chrysler: The government (allegedly the people) are now 60% owners making the government principal owner. As such the government has forced the closing of plants and shedding of dealerships. There have been no reports on increased unemployment stats or the estimated value of the losses incurred by the various independent entrepreneurs (dealerships). Neither has be positive.
How well is government ownership of auto companies working out?
Now, with that sterling list of government business failures, how can anybody NOT want the government to direct and control cradle to grave HEALTHCARE for 300,000,000 plus people?
God help America… the government sure isn’t.
