Auto-Bailout... "Subsidizing Failure"
Auto bailout vote near in House
$14 billion stopgap rescue plan wins agreement between White House and Democrats. But Republican opposition in Senate could foil bill.
"The House was poised to approve a stopgap $14 billion bailout to U.S. automakers Wednesday evening, but Republican opposition cast doubts about its chances for passage in the Senate later this week."
GOP Senators Jeopardize Auto Rescue Bill
Democratic lawmakers and the White House strike a deal on an emergency $14 billion loan program for the auto industry, but Senate Republicans are not happy with the plan.
"People realize that this bill is an incredibly weak bill, (and) is the product of an administration that wants to kick the can down the road and let somebody else deal with it," said Sen. Bob Corker, R-Tenn. "I think it has minimal -- very little support in our caucus."
Rep. John A. Boehner, R-Ohio, the minority leader, said the legislation unveiled Wednesday "asks taxpayers to further subsidize a business model that is failing to meet the needs of American workers and consumers."
Wow... it's not often my politics align with Southern Republicans.
But this whole thing is shaping up to be like some nightmare out of Atlas Shrugged. "Car Czar"? Propping up corrupt and blood sucking system of forced Unionism?
Is this really a road we want to head down as a country that prides itself on Economic liberty and the American work ethic? We should not be subsidizing the failure of this business model. Unions that force through untenable contracts that leech so much from their employing companies should be left to die.
The best thing that could happen for the future of these car companies is not to hand them billions in government funds and get them used to getting bailed out for failure, the best thing to happen would be them filing for Chapter 11 Bankruptcy and getting the ability to shed the weight and excess baggage that the UAW has burdened them with.
This whole move to bail these companies out is a mistake. Just look at the ridiculous demands that the Democrats in Congress are trying to tie them up with: "Only buy American parts, we don't want the money going to foreign countries" Ok... but American parts are already more expensive, and these companies are struggling to CUT costs so they can ultimately turn a profit and survive. "You have to make greener cars" Ok, but demand isn't really there for them yet, and it's going to be more expensive to produce them and they will lose a lot of money in the short run trying to do so... again at a time when they need to cut costs and economize in the short run just to make it to the long run.
So this whole move by the Congress isn't in the best interests of the car companies. It's not in the best interest of the workers who look to them to provide employment - people are going to get laid off regardless of whether we give them money or not.
The whole mess is just about one thing. Giving money to the Unions to prop up their failure.
This is a bad deal all around, and the taxpayers shouldn't be forced to pay for this nonsense. The country will not fail if these car companies do - we're in a recession sure - business cycles happen - but we are not teetering on the brink of the next Great Depression if they fail like some of these chicken littles at the Automakers are trying to scare people into thinking. The car companies themselves may not even fail if we let them shed the baggage of the Unions under Chapter 11. The country would only be strengthened by letting the UAW be broken and move us towards more economic freedom from forced unionism.
It's sickening really to think these idiots are toying with the welfare of the country by selling out our free enterprise system to crony socialism.
So I now place my hopes on the tenacity of the Republican opposition in the Senate (and few fiscal conservative Democrats that have broken with the Party) to stop this madness.
$14 billion stopgap rescue plan wins agreement between White House and Democrats. But Republican opposition in Senate could foil bill.
"The House was poised to approve a stopgap $14 billion bailout to U.S. automakers Wednesday evening, but Republican opposition cast doubts about its chances for passage in the Senate later this week."
GOP Senators Jeopardize Auto Rescue Bill
Democratic lawmakers and the White House strike a deal on an emergency $14 billion loan program for the auto industry, but Senate Republicans are not happy with the plan.
"People realize that this bill is an incredibly weak bill, (and) is the product of an administration that wants to kick the can down the road and let somebody else deal with it," said Sen. Bob Corker, R-Tenn. "I think it has minimal -- very little support in our caucus."
Rep. John A. Boehner, R-Ohio, the minority leader, said the legislation unveiled Wednesday "asks taxpayers to further subsidize a business model that is failing to meet the needs of American workers and consumers."
Wow... it's not often my politics align with Southern Republicans.
But this whole thing is shaping up to be like some nightmare out of Atlas Shrugged. "Car Czar"? Propping up corrupt and blood sucking system of forced Unionism?
Is this really a road we want to head down as a country that prides itself on Economic liberty and the American work ethic? We should not be subsidizing the failure of this business model. Unions that force through untenable contracts that leech so much from their employing companies should be left to die.
The best thing that could happen for the future of these car companies is not to hand them billions in government funds and get them used to getting bailed out for failure, the best thing to happen would be them filing for Chapter 11 Bankruptcy and getting the ability to shed the weight and excess baggage that the UAW has burdened them with.
This whole move to bail these companies out is a mistake. Just look at the ridiculous demands that the Democrats in Congress are trying to tie them up with: "Only buy American parts, we don't want the money going to foreign countries" Ok... but American parts are already more expensive, and these companies are struggling to CUT costs so they can ultimately turn a profit and survive. "You have to make greener cars" Ok, but demand isn't really there for them yet, and it's going to be more expensive to produce them and they will lose a lot of money in the short run trying to do so... again at a time when they need to cut costs and economize in the short run just to make it to the long run.
So this whole move by the Congress isn't in the best interests of the car companies. It's not in the best interest of the workers who look to them to provide employment - people are going to get laid off regardless of whether we give them money or not.
The whole mess is just about one thing. Giving money to the Unions to prop up their failure.
This is a bad deal all around, and the taxpayers shouldn't be forced to pay for this nonsense. The country will not fail if these car companies do - we're in a recession sure - business cycles happen - but we are not teetering on the brink of the next Great Depression if they fail like some of these chicken littles at the Automakers are trying to scare people into thinking. The car companies themselves may not even fail if we let them shed the baggage of the Unions under Chapter 11. The country would only be strengthened by letting the UAW be broken and move us towards more economic freedom from forced unionism.
It's sickening really to think these idiots are toying with the welfare of the country by selling out our free enterprise system to crony socialism.
So I now place my hopes on the tenacity of the Republican opposition in the Senate (and few fiscal conservative Democrats that have broken with the Party) to stop this madness.
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