ObamaOdrama

Mike Allen confirms that Rick Wagoner, the chairman and CEO of General Motors, is resigning at the behest of the Obama administration.

The White House confirmed Wagoner was leaving at the government’s behest after The Associated Press reported his immediate departure, without giving a reason.

On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler.

Industry sources had said the White House planned very tough medicine, which turned out to be an understatement. And it went to the very top. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, retirees and the communities where plants are located, the sources said.

If the government never bailed out GM in the first place this would have happened a long time ago without requiring a tax payer dime, abusing the public trust, and ending private ownership. 

Hail Government Motors - the new “People’s Car” manufacturer.

Striking a serious blow to Obama who has been counting on Europe to follow in his footsteps with their own Generations Impoverished, Victimized, and Embezzled act, European leaders are forming a clear stance against more government spending sprees.

Angela Merkel, the German chancellor, last night led the assault on the prime minister’s “global new deal” for a $2 trillion-plus fiscal stimulus to end the recession.

“I will not let anyone tell me that we must spend more money,” she said.

The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit.

 “In these conditions I and the rest of my colleagues from the eurozone believe there is no room for new fiscal stimulus plans,” he said.

Obama might want to bring a couple extra teleprompters and American DVD’s when he travels to Europe next week.