Despite the clear bias in this AP story and the desire of Democrats to pass the first round of the auto bailouts (make no mistake, there will be more or else the unions would actually have to make real concessions) while Bush is still President so they can hang this and all future monies on Republicans, the US Senate is moving closer to sanity and blocking this disgrace. While $14 billion may not seem like a lot considering the $700 billion we dished out not that long ago to the financial sector (we opposed that, too), it sets a horrible precedent for the future and is anti-free market.
The 3 US auto makers (the name Big 3 hardly seems to qualify for companies seeking to suckle to government teet) claim they need this money to avoid disaster by the end of the year. But what would that disaster be? Bankruptcy.
That’s right, that’s all, just bankruptcy. Not closing up shop forever, just reorganizing in the most profitable way, cutting jobs, both colors of collar, and reopening very generous union contracts that are aiding in ruining these once great companies. Rather than face reality they’d prefer our tax dollars. Well, hell, who wouldn’t?
Pay someone not to work and they won’t. Pay someone to keep doing the same things that brought them to near financial ruin and guess what happens.
Sanity looks like it may be happening where is rarely does, in the US Senate, however, where more Senators are speaking out against the bailout. Big props to them.
Ford, GM and Chrysler need to reorganize, cut the fat and find a way to support themselves or else they deserve to fail.
One of the most disgraceful parts of the House passed bill is the creation of a so-called “car czar” to make sure they’re making the right decisions. Can you imagine that? A government stooge to tell private companies how they should run things.
Pop quiz – name one thing the government actually runs efficiently without massive waste, fraud and abuse. You can get back to us on that one.
While the fact that Democrats are willing to once again violate free market principles and spend our money like it was theirs, below is the list of Republicans how decided to sell-out and join them.
We suggest you call your Senators and tell them you oppose the bailout, that the auto companies need to act like the companies they are (or at least used to be) and use the bankruptcy laws to get their act together. Just call (202) 224-3121 and ask for one of your Senators to let their office know what you think.
Here is the Squish List:
Barton (TX) Manzullo
Camp (MI) McCrery
Castle Miller (MI)
Ehlers Murphy, Tim
English (PA) Ramstad
Hoekstra Rogers (MI)
Hunter Ryan (WI)
King (NY) Smith (NJ)
LaTourette Walsh (NY)
Lewis (KY) Young (AK)