December 3, 2008
Nancy Pelosi and Harry Reed are drooling over the possibility of handing out more money to failures. The auto industry is reaping what it sowed over the past ten years and now they are crying all the way to Capitol Hill to ask daddy for some help. The CEOs of the "Big 3" say that bankruptcy isn't an option and that this bailout money is desperately needed. What would happen if the "Big 3" went bankrupt? Americans would keep buying foreign cars as they are doing now! The American car makers have been producing cars that can't compete with the foreign cars and now they are whining because their sales are terrible. If the Government bails them out, it will only alleviate the symptom, not fix the problem. To fix the problem, let the Market rule. If a company is bad, it closes down and allows the better companies to experience further growth--that's all part of business. These bailouts will have the same affect they had on the financial industry -- which did nothing. Furthermore, the Government can suspend some of its safety and environmental mandates that drive up the prices of cars. And, the car companies could starting building cars that the people want. But, what's accountability for when the Government is standing ready to overlook your failures?