GM: A Failed Welfare State

The following quote from GM CEO Rick Wagoner explains GM's dire situation best - and it doesn't exactly inspire confidence: "When I joined GM 28 years ago, I did it because I love cars and trucks. I had no idea I'd wind up working as a health-care administrator."

George Will explains that GM's troubles are only getting worse. The article is a great reminder to everyone in Congress that investors are not interested in investing in welfare states.