Hillary Would Bail Out Companies' Underfunded Pensions

In an interview with Al Hunt of Bloomberg today, Hillary Clinton offers so much incredible material that I can't cover them all in a single short post. Apart from somehow failing to see a positive economy, Hillary also spoke of rising health care costs, Bush's "Nixonesque" tendencies, tax rate policy, Bush's "outsourcing" of Iran negotiations (she doesn't like multilateralism in this instance), North Korea (she somehow forgot that her husband was completely fooled by Kim Jong Il in his 1994 deal) and other ridiculous statements.

Most ominously, Hillary advocated the potential bailing out of failing companies such as GM for hundreds of billions of dollars worth of unfunded pension liabilities.

First, Hillary's take on the economy:

Well, the economy is working really well for many people. And the indicators at the present time, as you say, are positive. But if you look just over the horizon and below the surface there are some troubling issues.

...Yes, unemployment is four percent, but it was four percent in the Clinton administration and more people were in the workforce. [Shocker: Hillary didn't mention the term "bubble."]

...Replacement jobs for those that are lost are 20 to 40 percent less than income. [Complete b.s., as Greenspan has refuted this Democratic charge several times over the past two years.]

Hillary on North Korea (Please don't laugh):

This administration takes this kind of hands off approach to North Korea, to Iran. All I know is that five years ago North Korea didn't have nuclear weapons. We now believe it does.

Finally, the trillion dollar bailout of GM and other companies that have underfunded their employee pensions:

I think we could in return for over a period of, say, 10 years lifting some of those legacy costs off of the car companies in return for them expediting a move for more energy efficient products. That would be a good bargain for America.

If you think Enron and Worldcom were corporate disasters, you haven't seen anything yet. This potential corporate bailout would be the largest in U.S. history by far.