The conservative Republican commentator opposes the auto industry bailout: "This week Congress meets to consider giving away another $25 billion of taxpayers’ money to dysfunctional corporations. With a renewed sense of urgency, others are forming a line at the Capitol seeking to take money out of the wallets of America’s working families to further support dysfunctional ways. This line now includes cities and even a state, all of which are far more politically significant than handout-seeking corporations. All of this is building a culture of dependency that is rapidly expanding the scope of the federal government, ruining competitive markets, and creating a massive debt that will burden our children and even our grandchildren. This must end now. The Big 3 automakers—General Motors, Ford and Chrysler—are asking Congress to give them $25 billion of taxpayer money. These companies recently had $25 billion earmarked to them by the federal government to pay for retooling and redesigning to make more advanced and more marketable products such as hybrid vehicles. Yet now they want more, making them 21st-century welfare queens."
He continues his commentary: "Congress must refuse this bailout. Without a bailout, they will be forced into Chapter 11 reorganization. The Big 3 would be given the freedom to renegotiate their labor contracts and their contracts with dealers, giving them the opportunity to put together a business plan that can make them competitive and profitable. It would not destroy the auto companies or put their workers on the streets; it would simply force them to fix their mess. Transferring tax dollars to them will only worsen the situation. They will burn through that money in a matter of months, and we’ll face this maddening situation again in 2009. Unless American taxpayers are willing to subsidize the Big 3 forever, this cannot continue. Do you want the same people who ran the Hurricane Katrina response to run the companies from which you buy your cars?"
KEN BLACKWELL COMMENTARY: 21st Century Welfare Questions
Posted by Shay Riley at 11/19/2008
Labels: Big Government, Enterprise, Welfare
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