Deeper Into Debt

Opinion Letter

By: Frank Burkett

General Motors, our 4th largest vehicle manufacturer surely is in business to make a profit, wouldn’t you think? Their investors hope they are. So please tell me why they keep making those EV, Electric Vehicles?

Researching the manufacture of the GM EV, GM admittedly loses $9,000 on each vehicle. More research, I find that Ford Motor Company loses $66,446, but since then they have admittedly lost $132,000 on each EV produced. Further, Ford says it will postpone an EV factory which includes a battery factory. Looks like China wins again, forcing EV manufacturers to depend on China for EV batteries.

Now, what to do after we are as a nation solely dependent on China for our EV batteries, then they decide to cease providing us with them? Remember the Biden Harris team but now Harris Biden team has mandated EV the only mode of auto manufacture after the year 2050. A nonsensical mandate 26 years down the road.

Here are reasons for the huge losses for the motor manufacturing companies. It takes a huge investment to rework all of the robots and teach the employees on techniques that most were not familiar with.

There are huge investments for retooling and the complexity of anything new and never produced before, but here there was a funny development that occurred while I researched the Ford EV, and their huge losses on those vehicles. Further research, I found that Ford executive’s explained how they would reach their goal to turn a profit by 2026, is that they would manufacture more vehicles. And this reminds me of a watermelon story, as follows.

This man and wife would buy watermelons by the truck load, and they had no trouble selling them. But at the end of the day, and after counting their money they were short of what they had paid for them. Well the next week they bought another truck load and sold those quickly also. After counting their funds, they came up in the hole again. He and his wife put their heads together and came with a solution. We have to invest in a bigger truck.

In the Biden Harris spending bills are many dollars for eliminating cheap fossil energy and making nuclear energy more expensive, but there are subsidies stacked on top of subsides to invest in more expensive and environmentally unfriendly Green energy.

Much of the Affordable Care Act, is in the Inflation Reduction Act, thus making it a humongous spending bill that the U.S. can’t possibly pay. With the massive debt accrued of $35 and 12 zeros, by this and many prior presidential administrations won’t or can’t be paid by the next several generation’s life times.

Putting the debt in perspective. (If an extra million dollars was paid from the Treasury each day and the U.S. budget balances each year in a mere 95,000 years we could burn the debt note.

But to my way of thinking, the onus is on the Congress past and present, of both Senate and House of Representatives. But, our law makers and the Executive Branch of our government doesn’t seem to care, as they bankroll Oligarchs in the Ukraine, then unknowingly or purposely by our top echelons in U.S. government, provide armament for Hamas and other terrorist factions in Gaza, with enormous aid packages. Much of their armament is supplied by Iran.

Iran, that has vowed to move the U.S. and Israel into oblivion. Remember, the Iranian government was on the ropes financially until the Biden Harris Administration removed the Trump sanctions.