Yesterday, Bloomberg reported that the auto industry is recovering, with the exception of GM and Chrysler – the two Government owned firms. While there may be many explanations for GM’s double digit sales decline compared to the other companies’ double digit sales gains, perhaps some of the credit goes to citizens rightly outraged by the Obama Administration’s illegal bailout of GM and Chrysler.

As this Blog complained, Obama flouted centuries of established contract law by bullying secured debt holders into accepting less of a settlement than they were due. He used the pilfered funds to repay his political debt to the unions that helped elect him. Worse still, because the Government owns these failing conglomerates, the taxpayer’s commitment is open ended.

To be fair, GM and Chrysler have inferior products and their government masters will never let them compete with agility. Still, the numbers are stark and worse than financial analysts expected. Perhaps those analysts underestimated the extent of taxpayer disgust with these bailouts and the tens of billions of dollars that will never be recovered.

Poor GM, it makes products few want to buy and is owned by an administration whose socialist agenda is highly unpopular. Still, the best remedy is to put it out of everyone’s misery. Let’s continue the GM boycott until the Government is forced to pull out.