Let The Auto Industry Crash
Barack Obama claims that saving the auto industry is a top economic priority, but in reality it is a top POLITICAL priority for Democrats. Big labor unions are one of, if not the top, Democrat special interest groups and if the Big 3 auto companies were to file for Chapter 11 it would break the backs of the union and probably cost the Democrats a huge voting bloc.
The reality is the unions have gained too much power and leverage of the auto industry, with outrageous contract demands and benefits packages. Along with strict environmental regulations, such as CAFE standards, the auto industry is being suffocated. This is why they can’t compete with the likes of Honda and Toyota.
So, this is one industry that needs no bailout. In fact, we’ll all be better off if they file for bankruptcy and start anew. Unfortunately, Obama, Reid and Pelosi will be doing all they can to take care of their special interests. So much for being the party of the ‘little guy’ eh.
For more, check out these posts on the auto industry bailout.
November 21st, 2008 at 5:19 am
They have been struggling for years to adapt to a product that Americans really want. Let them go bankrupt. Let them restructure and produce a product that we actually want. Let the rebirth begin! Let the American dream be recreated!
We want to be off the oil curse! It will be a bigger and bigger issue the longer that it goes on but we are just sending our money over there. Put the oil aside and lets look at the money flow. Its enough to make me sick.
http://www.ewhatif.com/showthread.php?p=154#post154
November 21st, 2008 at 11:36 pm
Hi Jon. You might want to check out Pat Buchanan’s latest article on this subject. Also, quite informative. My opinion remains that the UAW is the biggest problem the industry has, though. They must make concessions or the industry will fail.