Let's Say Good-bye to Bush The Lesser

From Karen DeCoster

George Bush in July 2008: "Should the government bail out private enterprise? The answer is no, it shouldn’t,” Bush said. As for high gasoline prices and energy conservation, Bush’s opinion is “People can figure out whether they need to drive more or less; they can balance their own checkbooks.” After listening to Bush promise GM and Chrysler a bailout on NPR, just moments ago, one thing keeps coming back to smack me in the face. Something ya just can't miss but no one seems to want to discuss. Here is something that is a bit dated (June post, June market cap, March financials), but things have only been worse for GM since this graphic was put together.
Here is GM's Restructuring Plan for Long-Term Viability which was submitted to the Senate Banking Committee & House of Representatives Financial Services Committee. Page 8 correctly states that GM had a ($60) billion negative net worth position at September 30, 2008. $60 billion negative. Not one time has any media commentator or government official proposed how this can be overcome, allowing GM to continue to operate in the long term. No one dares to address one of the largest elephants in the room. Can you tell that government is run by lawyers and not businessmen or accountants?