Here we go again ladies and gentlemen, now that Obama is our next president, we need to make sure the Democrats don’t get too crazy trying to help too many people.
My concern today is the proposed bailout of our AUTO COMPANIES headquartered here in Michigan, my home state.
The current situation is that people have stopped buying new cars and the ones they do buy are fuel efficient foreign cars like Toyota and Honda. Since “leases” are no longer viable and not offered by most dealers, people want to “purchase” autos that are known to last a very long time such as Toyotas and Hondas. People who want to purchase an auto from one of the BIG 3 (Ford, GM & Chrysler) can no longer get a car loan; are you getting the picture?
For many years, a few people in Congress had tried to pass legislation mandating better fuel efficiency standards onto the Big 3 (others already met the standards). The Big 3 had powerful members of Congress (JOHN DINGELL, CHAIRMAN OF THE COMMERCE COMMITTEE) who thwarted any and all attempts to compel the auto giants to think in terms of better MPG numbers. The Big 3 continued to make and sell their gas guzzling trucks and SUVs because that is what the public wanted and the Big 3 made BIG BUCKS on those models.
Barack Obama, speaking in Detroit at the Economic Club reiterated that Detroit must make more fuel efficient cars or suffer the future consequences of their actions or non-actions. Detroiters made fun of Obama and threatened to withhold their political support if he kept saying those crazy ass things!
Well today the Big 3 and their union UAW cohorts (now there friends?) came to Congress with their empty cups asking for handouts! The Democrats are saying that the country cannot allow the Big 3 to fail because the whole country would suffer. I say BULLSHIT to that!!!
The auto companies and the union had been warned a long time ago and just like the greedy bastards on Wall Street, these greedy bastards in Detroit were not heeding any warnings because they were raking those dollars and those benefits in, hand over fist.
If we are bailing out financial institutions why can’t we bail out these titans of manufacturing? Well, you may have a point there but their MUST BE STIPULATIONS AND CONSEQUENCES.
Congress has already allotted $25 Billion for re-tooling factories to produce fuel efficient vehicles. This can only go for that specific purpose. Congress should demand specific plans on how the Big 3 plan to manufacture these fuel efficient cards that the public will buy.
BUT the Big 3 also want another $25 Billion to help them through this trying economic time. I SAY – NOT SO FAST. GM, Ford and Chrysler are running out of cash. They are close to declaring bankruptcy and they should be allowed to do that. We cannot prop up a failing business. The companies must be allowed to re-organize under bankruptcy protection and emerge as small, efficient auto manufacturers.
The auto companies together with their unions must pay for their greed and their stupidity. I realize that this will be tough on my state and the people in the state that have for generations worked and prospered at the auto plants. There is no other way and the taxpayers will not put up with using their hard-earned money to prop up artificially, a business that has no legitimate reason to exist and operate under their current untenable business model.
John Dingell, the Congressman that has blocked legislation mandating better gas mileage for our autos is being challenged after 26 years as chairman of the Commerce Committee by another Democratic Congressman, Rep. Waxman from California. As much as I hate to lose a Michigan Congressman with such great seniority, he needs to pay for his lack of foresight.
Barack Obama is surrounding himself with all sorts of economic types including labor leaders, to help him grapple with our economic melt-down BUT he has to retain his own COMMON SENSE abilities to handle the auto dilemma.
He cannot allow taxpayer money to be pored into a black hole; he needs a plan, a plan that has a great potential to succeed and in my mind, the only plan that would work is to allow the Big 3 to declare bankruptcy and then stand ready to help the newly re-organized, smaller and smarted Ford, GM and Chrysler.
My concern today is the proposed bailout of our AUTO COMPANIES headquartered here in Michigan, my home state.
The current situation is that people have stopped buying new cars and the ones they do buy are fuel efficient foreign cars like Toyota and Honda. Since “leases” are no longer viable and not offered by most dealers, people want to “purchase” autos that are known to last a very long time such as Toyotas and Hondas. People who want to purchase an auto from one of the BIG 3 (Ford, GM & Chrysler) can no longer get a car loan; are you getting the picture?
For many years, a few people in Congress had tried to pass legislation mandating better fuel efficiency standards onto the Big 3 (others already met the standards). The Big 3 had powerful members of Congress (JOHN DINGELL, CHAIRMAN OF THE COMMERCE COMMITTEE) who thwarted any and all attempts to compel the auto giants to think in terms of better MPG numbers. The Big 3 continued to make and sell their gas guzzling trucks and SUVs because that is what the public wanted and the Big 3 made BIG BUCKS on those models.
Barack Obama, speaking in Detroit at the Economic Club reiterated that Detroit must make more fuel efficient cars or suffer the future consequences of their actions or non-actions. Detroiters made fun of Obama and threatened to withhold their political support if he kept saying those crazy ass things!
Well today the Big 3 and their union UAW cohorts (now there friends?) came to Congress with their empty cups asking for handouts! The Democrats are saying that the country cannot allow the Big 3 to fail because the whole country would suffer. I say BULLSHIT to that!!!
The auto companies and the union had been warned a long time ago and just like the greedy bastards on Wall Street, these greedy bastards in Detroit were not heeding any warnings because they were raking those dollars and those benefits in, hand over fist.
If we are bailing out financial institutions why can’t we bail out these titans of manufacturing? Well, you may have a point there but their MUST BE STIPULATIONS AND CONSEQUENCES.
Congress has already allotted $25 Billion for re-tooling factories to produce fuel efficient vehicles. This can only go for that specific purpose. Congress should demand specific plans on how the Big 3 plan to manufacture these fuel efficient cards that the public will buy.
BUT the Big 3 also want another $25 Billion to help them through this trying economic time. I SAY – NOT SO FAST. GM, Ford and Chrysler are running out of cash. They are close to declaring bankruptcy and they should be allowed to do that. We cannot prop up a failing business. The companies must be allowed to re-organize under bankruptcy protection and emerge as small, efficient auto manufacturers.
The auto companies together with their unions must pay for their greed and their stupidity. I realize that this will be tough on my state and the people in the state that have for generations worked and prospered at the auto plants. There is no other way and the taxpayers will not put up with using their hard-earned money to prop up artificially, a business that has no legitimate reason to exist and operate under their current untenable business model.
John Dingell, the Congressman that has blocked legislation mandating better gas mileage for our autos is being challenged after 26 years as chairman of the Commerce Committee by another Democratic Congressman, Rep. Waxman from California. As much as I hate to lose a Michigan Congressman with such great seniority, he needs to pay for his lack of foresight.
Barack Obama is surrounding himself with all sorts of economic types including labor leaders, to help him grapple with our economic melt-down BUT he has to retain his own COMMON SENSE abilities to handle the auto dilemma.
He cannot allow taxpayer money to be pored into a black hole; he needs a plan, a plan that has a great potential to succeed and in my mind, the only plan that would work is to allow the Big 3 to declare bankruptcy and then stand ready to help the newly re-organized, smaller and smarted Ford, GM and Chrysler.
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