Beleaguered General Motors took revenge on the Obama Administration today, surprising White House officials with a legal maneuver that forced the entire U.S. government into bankruptcy court.
"Nobody is too big to fail," GM boss Fritz Henderson said, citing the nation's trillion-dollar deficit, pork barrel spending and bloated Social Security retirement system. "We can't ask taxpayers to continue bailing out such a mismanaged bureaucracy."
Economists said the U.S. would need to dump underperforming programs and states, then reemerge as a smaller nation. "Basically, there will be two countries - a 'good U.S.' comprised of profitable states like Texas and Alaska, and a 'bad U.S.' saddled with astronomical health-care costs, pricey social-service programs and lame reality TV shows," said J. Morton Lippincott, a Harvard business professor. "The bad U.S. will be run by Congress. The good U.S. will be owned by Google."
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