DATELINE: WASHINGTON D.C.: Today the President [who is suddenly worried about his ‘legacy’] announced that the [lame duck] Administration has put together a plan to give GM and Chrysler a loan [throwing bad money after good] of 17 Billion Dollars [further devaluing our currency and likely triggering inflation on a scale not seen since Carter and the 1970’s] to help them avoid bankruptcy [which, paradoxically is the only thing that would save them from annihilation]. The plan calls for the companies to submit a turn-around plan [which won’t work without bankruptcy] by March 31st [long after Bush is gone, and it’s Obama’s problem], or they will have to give the money back [as if they’d have anything left, at the rate they’re bleeding red ink]. United Auto Workers head [bully] Ron Gettlefinger immediately stated that the Bush plan was unworkable, and had far too many restrictions [that might result in the UAW having to accept salary and benefit cuts]. Gettlefinger offered that they would immediately demand that the Obama Administration rewrite the plan to remove the offending restrictions [and thus keep Gettlefinger’s job safe, and force the Big Three to continue to dance to organized labor’s tune].
Here’s the truth, people. The Big Three will not be able to avoid bankruptcy, sooner or later. The union will not allow any kind of meaningful compromise. Gettlefinger doesn’t get it – times have changed. There’s a healthy automotive industry in the USA. Just not in Detroit – and it’s one his union has nothing to do with. The 800 pound gorilla in the room that nobody – Republican OR Democrat – wants to acknowledge is that the only way to save the Big Three is to kill the union. Without the union contracts, union pension plan and union health plan, they can survive. With them, there’s no way to make it work. Period. Continue reading The following post is closed-captioned…→
I’m a conservative. I’ve been a conservative since waaaay before it was unfashionable and politically incorrect to be one. But when I say “conservative,” what I mean is that I adhere to the principles of smaller government and self-reliance – not the kind of “compassionate conservatism” and borderline soft Socialism that has been masquerading as conservatism lately.
And I’m mad as Hell this morning.
Tell you a little secret…I voted for George Bush four times – twice for Governor and twice for President. I thought – and still think – that he’s a good man, and the best candidate for the job. At no time, however, did I ever believe that he was a genuine conservative. Oh, sure, I acknowledge that he’s more conservative than Ann Richards, Al Gore, or John Kerry. But he’s far from a believer in the kind of conservatism I believe in.
The Big Three schlep back up on Capitol Hill, hats in hand, massaging the road sores they got from actually driving from Detroit to D.C., where they will beg for bucks once again. They are in hopes that their performance will be a lot more convincing – not to mention, vastly less tone-deaf – than their last appearence. In the meantime, we’re treated to a parade of concerned Senators and Representatives who wail that, without an immediate bailout, The American Automobile Industry Will Come To An End As We Know It.™
With apologies to Jonathan Swift, I have my own modest proposal for the Bailout Bucks Sweepstakes.
I think the government should write me a check. (And every other taxpayer for that matter.)
Think of it this way…if the government is going to start bailing out every Tom, Dick and CEO, why not me? And you? I run a small ad agency in Amarillo. Like most people today, money’s tight. I have bills to pay. Fortunately, I didn’t do anything dumb like buy a house out of my price range, or rack up a huge debt for capital equipment I couldn’t afford. But because of some unexpected expenses (medical, family, business), I’ve got very little cushion left. We did all the right things – saved every penny we could, made extra house payments when we could, stopped buying non-essential things. Still, it doesn’t take much to shoot one giant hole in our savings parachute. Mind you, I’m not whining or complaining. At all. In fact, I think we are some of the lucky ones. Mrs. Digital and I are gainfully employed. We have a roof over our heads, and food in the refrigerator. We are self-reliant, and if we screw up, we’ve got nobody to blame but ourselves.
The CEOs are up on Capitol Hill, hats in hand, begging for small change. $85 Billion in change, to be exact. And the Big Three have marshaled the troops to hit all the news shows, declaring (in no uncertain terms) exactly why bankruptcy is not the answer, and why we MUST give them a “loan” to keep them afloat. Here are some unanswered questions – and oddly enough, for once they are the questions that some in Congress are actually asking the Big Three honchos: Continue reading Car-mageddon Update.→