Will Killing the Big 3 Bailout Kill the GOP?
I don't agree with Pat Buchanan's economics but his from-the-gut political instincts on a potential Big 3 bailout might be right. I think a lot of folks might agree with the following sentiments:
" If the GOP blocks these loans, and the industry dies, the party can forget about Ohio, Michigan and the industrial Midwest. For the Reagan Democrats will never come home again. Nor should they. By the choices we make, we define ourselves and reveal what we truly care about. Thus, consider: We bail out the New York and D.C. governments of Abe Beame and Marion Barry. We bail out a corrupt Mexico. We bail out public schools that have failed us for 40 years.We bail out with International Monetary Fund and World Bank loans and foreign aid worthless Third World regimes. We bail out Wall Street plutocrats and big banks. But the most magnificent industry, the auto industry that was the pride of America and envy of the world, we surrender to predator-traders from Asia and Europe, lest we violate the tenets of some 19th-century ideological scribblers that the old Republicans considered the apogee of British stupidity."
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Big 3 Bailout
No money down that drain! None! The management has had years of knowing that the foreign cars were better and what Americans wanted. And the unions kept asking for more and getting it. Pay back time folks. Let them go Chapter 11 and likely Toyota or one of the other successful companies who make care profitably in America will buy the production lines and hire the workers at the going wage. That is almost a sure thing because the demand for cars has only changed by the economy and the other companies will suffer equally then recover as the economy recovers.
Let them fail.
I just think this whole thing is ridiculous. First they fly private, then ask for a bailout. Now, they're like, oops, we looked bad, let's drive 500 miles in a hybrid. I think it makes them look even worse, pretty darn ridiculous, because it's obviously for show.
No one asked them to drive across the darn country, people are just wary of spending billions of dollars on companies that are failing, AND that are fiscally irresponsible.
Driving across the country is even worse - that means they're wasting however many hours driving not actually accomplishing anything.
Geez, just fly commercial. It doesn't cost $40,000, and you won't waste days driving back and forth.
I don't think we should bail them out, though. Why should we pay because they're failing, fiscally irresponsible, and producing vehicles no one wants to / can afford to buy. Sure, the fallout would be huge, but how will the economy get properly back on its feet?
These companies are failing because of their own poor decisions and strategy. It's pretty simple. They're supplying more than we're demanding. That doesn't deserve a bailout. It requires a strategy team to envision the needs of their customers. Which clearly they haven't done. Oh, and they're fiscally irresponsible.
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I think Pat is right, unfortunately. This is another one of those crap sandwiches...
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