I feel General Motors has now crossed the line of having any public support going forward. Before today’s announcement from General Motors (GM) that it may now need as much as $30 Billion (tax payer) dollars to survive, public support of all ‘bail outs’ has been waning.

Now General Motors is coming back to Washington saying that they under estimated the economic declines and may now need more than twice as much money from the tax payers in order to become a profitable company by 2012, but may still need even more money in 2013 to help pay retiree pensions.

General Motors has now crossed the line. You are asking for more tax payer support at a time when tax payers are already hurting in this economy. This is now about individual preservation of capital. Rick Wagoner, your request for additional funds is appalling and disgusting, and an insult to the American people.

On November 20th, 2008; in an interview with Bloomberg, you Mr Wagoner said that you ’strongly beleived’ that you would not have to go back to congress and ask for more money. I will give you credit in that you said ‘I can’t gaurantee we won’t have to ask for more’, but your pitch at the time was clearly trying to win over public support by trying to convince the Amercian tax payer that you would not have to go back to the well. It is very apparent now that you were knowingly selling the public ‘a bag of goods’ back then.

Enough! The United States is on the verge of entering a depression with other nations around the world in the same situation. Tax payers are in ’self preservation’ mode as the economy continues to deteriorate. It is now every man and woman (and company) for themselves, if you Mr. Wagoner can’t make your company profitable any longer than it is time for you to fail.

You have crossed a line in the sand… no more!

I realize this may not be a popular opinion in some circles, but ‘bail outs’ of all kinds has reached complete insanity.

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