Wednesday, December 10, 2008

Bailout Crisis, Round Whatever We're in Now UPDATED!

Genius! I just heard the Senate Republicans that are leading the charge against this auto bailout and they are right on the money! Senator Ensign and Senator Shelby simply said that a bailout is a band-aid to the problem without a fix to the problem itself. Throwing $15 billion onto a mound of trash still makes it a mound of trash. And taxpayers ought not be responsible for paying for that trash. Without demanding restructuring, renegotiations with the UAW, or getting rid of these failed CEOs, nothing will change, and even a "car czar" (so awful) will be able to do any good. Fix the problem, auto industry, and then ask for a loan, not the other way around. Oh! And Congressional about letting Republicans take a look at the language in the bill before saying it's good to go!

Now House Republicans have put forth a plan. It's a much better alternative than some handout. See the summary of the plan here.

Represenative Dan Lungren of California has got it exactly right.

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