Cheney wanted GM in bankruptcy sooner
With General Motors expected to file for bankruptcy next week, former Vice President Dick Cheney said on Wednesday that he wanted the company to take that step months ago when George W. Bush was still president.
“Some of us at the time wanted GM to go bankrupt, go to Chapter 11,” Cheney said in an interview with CNBC’s “The Kudlow Report”. But Cheney apparently was in the minority with that view at the time.
“The decision was made that, in the final analysis, since our administration was almost over and a brand-new team was about to take over that the president wanted, in effect, not to take a step that wasn’t necessarily going to be followed by his successor, but rather to set up a situation which the new guys could address that issue and make a decision about what the long-term policy was going to be,” he said.
Cheney, who has been in a very public fight with President Barack Obama and Vice President Joe Biden over national security policies, took on the Obama administration’s economic policies in the interview with CNBC’s Larry Kudlow.
Asked whether he agreed with criticism that Obama was pursuing some kind of socialist agenda, Cheney said he would not use that label but did not like what he was seeing.
“I agree with the criticism without using the labels. I don’t want to get into trying to label President Obama. He’s our president. At this point, he’s the only one we’ve got. He won the election, and he obviously is entitled to pursue those policies that he wants to pursue,” Cheney said.
“What we’ve been seeing, though, and what’s been advocated by the president and what looks to be in store if he’s successful is that we’re seeing a vast expansion, not only the power of the federal government over the private sector but also in terms of spending,” he said.
The former vice president also tried to take back a rebuke of retired General Colin Powell. Cheney previously said that the former secretary of state in the Bush administration had left the Republican party.
“Well, we’re happy to have General Powell in the Republican Party,” Cheney said.
– Photo credit: Josh Roberts (Cheney before giving a speech on national security on May 21.)