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Wednesday, November 12, 2008

Do We Bail Out American Automakers?

I find it frustrating that American citizens, who are partly to blame for the current economic situation to be sure, are being asked to become financially responsible by first funding the salvation of Wall Street and now the American auto manufacturers who have been loathe to move into the 21st Century by producing fuel efficient automobiles. The Democrats want to bail out the Big 3, saying that if they do not we will be plunged into another Great Depression. While average Americans are tightening their belts and clipping coupons, these companies want them to save their backsides.

Any bail out of the American auto manufacturers needs to be accompanied by strict regulations about how it’s spent and how the industry shifts its paradigm to one of fuel efficiency and well built cars that last and away from the use of oil. Congress rushed to hand over $700 billion to Wall Street. I would like to see more time taken over any further bailouts.

Too many citizens fail to take responsibility for their decisions and actions. How can we expect our youth to step up and live with the results of bad decisions if parents are always bailing them out? This bail out feels like junior’s coming to mom and dad, looking for a handout because he’s had his head stuck in the past, refusing to hear the 20th Century calling. Much as I don’t want thousands of highly paid factory workers out of work maybe Detroit’s time has come and gone. Instead of funding the automobile companies, maybe we need to be funding retraining for their workers.

How does the South Sound Neighborhood feel about a possible bailout of American auto makers?


JosephMcG said...

Well written, thoughtful, challenging... I shall be looking at our recession, its causes, impact locally, nationally, and internationally, and what works/does not work more carefully because of you


Lorraine Hart said...

I'd like to see an industry rise...of recycling old car parts into useful things. Start putting some money into clean-up, instead of bail-out...the old adage of teaching someone to fish, rather than giving them a fish.

We've got a great workforce and a great need to fix and clean-up. Hooking-up the two has to be a priority. How is it that giving money to those who have made money without a thought to the future is a good thing...and making sure Joe and Josephine Average can afford to live (and be healthy) is a bad, socialist risk in America?

People with credit card debt have repaid that debt many times over but still can't climb out because of interest rates that amount to usury. I'm tired of this feudalism all 'round.