The Doom of the Welfare State

According to George Will in the Wall Street Journal, General Motors is foundering in paying its retirees' benefits and health care. Today, we read that both GM and Ford stock have been downgraded by S&P to junk bond status "as the two iconic American automakers are losing market share at home to Asian automakers, seeing sales soften for their most profitable models and are facing enormous health care and post-retirement liabilities."

This is what the New Deal established as the future of this nation, because no entitlement program can ever be reduced, but is easy to add benefits to. It's quicksand, and the Democrats don't care, or they know that nothing can be done except wait and sink lower. .