White House Says Deal Near on Auto Bailout
It seems our elected officials are Hell-bent on continuing the massive corporate welfare scheme they think will miraculously rescue our economy. They obviously don’t care what you and I think. According to this poll by CNN/Opinion Research Group, 61% of Americans consider the bailout a mistake.
This AP article released a few moments ago reports the White House is now saying a deal is near. A czar will be appointed by the Bush White House to supervise the progress of the 3 failing companies in return for $15 billion.
If you read my post the other day, you already know I’m against rewarding incompetent CEO’s for running their companies into the ground. These guys made millions last year, and for what? This corporate welfare program won’t save them. Begging Congress for a handout the other day, they requested $34 billion and said that will only get them through the end of this year. So the compromise is for $15 billion.
What then? Do they return to the trough for another round? If they must have $34 billion to get to January 1, $15 billion won’t even get them through Christmas!
If the Big 3 are forced into bankruptcy, they’ll be required to restructure and develop a solid plan for recovery. If your money and mine are available to postpone such restructuring, we simply subsidize the status quo.
Oh, I know the article says a czar will be appointed to ensure they’re making progress. BS! Think about how the bailouts of AIG and the banking industry are going. Has the economy turned around since we’ve started spending our great-grandchildren’s future earnings? No! And bailing out the crippled Detroit monsters won’t bring it around either.
I’ve added links in the sidebar of this page to contact your elected officials. Write them all and tell them if they vote for this corporate welfare, they’d better prepare a resume’.
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