Will the socialized GM bankruptcy be Obama’s tipping point?

Auto company nationalization is just one part of the Obama socialist movement. The banking industry is well on the way to nationalization with the health industry just waiting in the wings.

However, it may be the American auto industry nationalization that may be Obama’s tipping point.

Observers across the political spectrum have marveled at Barack Obama's ability to maintain a high job approval rating even as the public grows skeptical about some of his key policy initiatives.

There's a feeling, among Republicans at least, that sooner or later he’s going to reach a tipping point between his personal popularity and the unpopularity of his proposals, and that his job approval rating will suffer.

That moment will come when Obama has to actually stand behind specific proposals -- when he has to put his name on a health care plan that will lead to the rationing of medical treatment, or an energy plan that will lead to significantly higher electrical bills.

The report at the link below suggests that we might be catching a glimpse of Obama’s tipping point with his handling of General Motors' bankruptcy.

The government takeover of the automakers is by far the most unpopular thing Obama has done so far. And it's not just unpopular -- it is partisan, appealing to the base of his party and virtually no one else.

In a Washington Post poll in late April, just 41 percent of those surveyed approved of Obama's handling of the automaker problem.

This was a poll that hardly anyone saw because the partisan media chose not to broadly report the story.

The poll showed that people of all age groups disapproved.

People in every region of the country disapproved.

Men disapproved.

Women disapproved.

People with graduate degrees disapproved.

People with less than a high school degree disapproved.

People who go to church a lot disapproved.

People who don't go to church at all disapproved.

People who make more than $75,000 a year disapproved.

People who make less than $20,000 a year disapproved.

Among Republicans, 72 percent disapproved. Sixty-six percent of independents -- a group key to Obama's success -- disapproved. The only group to approve of continued bailouts to the automakers was Democrats, by 57 percent to 42 percent. On the auto issue, at least, Obama is playing to his party base and little else.

When the public learns just how much the GM bankruptcy favors the United Auto Workers Union at the expense of GM bondholders (the shareholders are already holding worthless stock) the tipping point will have been reached.

More of the story here.