Ed Schultz on bailing out Detroit: Failure Is An Option

Having done his best to shill for the failed federal bailout of the financial sector, top-rated liberal radio talk show host Ed Schultz is doing the same for Big Three automakers seeking a $25 billion "loan" from Washington.

Here's what Schultz said about it on yesterday's show --

"And if we have to throw out a loan, even if it doesn't work, so what! It's only $25 billion, it's a drop in the bucket."

So much for the antiquated belief that failure is not an option.

The inevitable future bailout request

WASHINGTON -- Fierce debate continued in Congress today over whether federal lawmakers should approve a massive $900 bailout of the oil industry.

With oil profits plummeting in parallel with the steep decline in the price of petroleum, oil company CEOs requested an "extended, no-interest loan with no strings attached" based on previous bailouts of the financial sector, auto industry, airlines, major newspapers and half of American homeowners.

In a related matter, the Congressional Budget Office projects a $3 trillion federal deficit for fiscal 2010, with 80 percent of all tax revenue now spent on debt service.

"I don't see how Congress can in good conscience turn its back on such an integral part of our economy," said an oil company exec who asked not to be identified. "If we fail, the whole country goes down the drain. You keep hearing how other industries are too big to fail. We're even bigger than that."

In other news, China will soon complete its purchase of the second half of Manhattan, having finished acquisition of the first half last year after yet another rescue package approved by Congress ...

Maddow perpetuates hoary Great Depression myth

... as described in a blog post I wrote this afternoon at NewsBusters...

Obama's more unhinged supporters, as seen by The Onion

Obama Win Causes Obsessive Supporters To Realize How Empty Their Lives Are

Obama victory not without silver linings for conservatives

First one that comes to mind -- it kills the hoary myth that conservatives steal elections and undermines what little credibility the claim has for elections in the past.

Secondly, that a man of color named Barack Hussein Obama was elected says something magnificent about America, how this truly is a land of opportunity, a meritocracy where talent and the ability to articulate a vision of hope matter to a great many people.

If I had to pinpoint the main reason McCain lost, it was his hopeless incoherence, especially after the financial panic hit in September and we were hungry for steadiness and clarity. Obama projected both; McCain, neither.

Third silver lining -- many people on the Left would have refused to accept a McCain victory, regardless of whether it was disputed. What followed may well have been '68 redux.

Lastly, I doubt we would have gotten three consecutive terms of Reagan/Bush without the disastrous four years of Carter that preceded them.

McCain vs. Obama, an earlier version ...