I'm no fancy schmancy economist. I know more about drug metabolism than the law of supply and demand. But I do have the sense that God gave a goose.
Currently the CEO's of Ford, GM, and Chrysler are begging the U.S. Congress to give them $25 billion to prevent collapse of the auto industry. They claim that they have a viable and successful busniness plan, and this is a good and necessary "investment" as the President-elect might call it.
The auto industry claims that it will be bankrupt without this assistance. Here is the rub. They miraculously have enough money to fly the CEO's from Detroit to Washington, D.C. on private corporate jets! They claim it's for security reasons. Yeah. Right.
The Democrats who are in favor of bailing out the auto industry want the money to come from the funds set aside to bail out the banks.
But the Republicans want these funds to come from the already approved government loans aimed at creating more fuel efficient cars. Why the auto industry won't accept this money is beyond me.
The governement's supply of money may be vast, but it's certainly not infinite. Furthermore, the government gets its money from taxpayers.
Now I'm not in favor of bankrupting the auto industry and putting millions of workers on unemployment. Regular people all over the country have been tightening their belts for quite a while now. I think it's about time that these corporate fat cats take a cue from the regular people who are the lifeblood of their industry.
1 comment:
Love this post! I just saw this on Fox and love how the senator said, "let the record show that no hands were raised"
BTW, your blog makeover is gorgeous!
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