Nov 09 2008
Federal Loans to the Auto Industry:
The need to save the auto industry is a pressing; I guess. But here is something I have not heard. Why should the U.S taxpayer step in to bail out an industry that has sent more jobs out of the nation than it has created in the nation? The auto industry and others are saying these are loans, but what do the taxpayers get in return?
Once again, a poorly run economic segment is turning towards the federal government for aid or as they say a loan. Sure why not give it to them, the industry is purely American and after all if it fails, the loss is going to be felt. But, Barack Obama promised, no more tax cuts for those companies sending jobs overseas; remember, it was just a few short days ago, of course maybe he didn’t mean loans.
So, Mr. Soon-to-be President, why not go to GM and Ford and notify them that the loans can be had, but they both must bring back 100,000 jobs for every $10 million loaned. Then call in the UAW and notify them that the auto industry will disappear and their union will be die without these loans are made. With that they will accept wages and benefits in package similar to
Toyota and Honda employees currently working in this nation.
If Barack Obama truly wants to make a difference in his first 100 days, this is the perfect solution and if the auto industry and unions wish to use the taxpayers to save their jobs, then they should be willing to give something back in return.
One Response to “Federal Loans to the Auto Industry:”
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I would like this strategy, or perhaps also a commitment by the auto companies to raise fuel emissions standards and do more work on green technologies. We’re falling behind in the world fast and one of the reasons american car companies can’t make any money is because they can’t export any of their cars to other countries - none of them have high enough emissions standards! This strategy would (theoretically) create more jobs, revitalize the ailing auto industry, and lessen our dependence on foreign oil.
Cheers!