Starting today the United States government will stand behind your warranty. That means that the United States taxpayers are guaranteeing your warranty. Excuse me, but doesn't this take some type of legislation? How does the president suddenly decide that all GM, Ford and Chrysler warranties are to be guaranteed by taxpayers?

Excuse me .. and I know that this is old fashioned thinking ... but I don't seem to remember the congress passing a law saying that the taxpayers could guarantee automobile warranties for a select number of owners. Maybe Herman Cain was doing my show that day. But .. Barack is King right now .. and all he really has to do is say it, and it's law.

Wait! There's more! Aren't we going to have to establish a grand new government bureaucracy to handle all of these warranties? And once that government bureaucracy is established, how many of you think it will ever be dissolved? How many of you think that we will ever reach the point where warranties on cars manufactured in America aren't guaranteed by the taxpayers? Who is going to set the warranty terms? The government or the automakers? Will we have politicians campaigning on the promise to extend and expand car warranties? How about "If you vote for so-and-so, you're going to have to pay to repair your own car."

We are seeing the beginning of a grand new entitlement program here.