Will the Bailout Extend to Auto Makers?
Now, the auto manufacturing industry is in trouble, and lawmakers are proposing bailing out the big domestic automakers. Critics of the bailout bill rightly objected to the bill partly because it would encourage the funding of failed private businesses on taxpayer dollars. The auto manufacturers are now looking for a handout from the Federal Government, just as predicted. The liability of a private business to fend for itself and succeed or fail on it's own merits is slowly being eroded, one industry at a time.
It is not the role of the government, nor of the people to keep a sinking business afloat. The solvency of a business is entirely the responsibility of that business itself. If it fails, then it fails. That is life. That is business. That is how a competitive market is supposed to work.
Our current President, George W. Bush has already nationalized the banking industry because it was "too big to fail," and now we see the auto industry looking to head down the same exact path. Venezuelan leader Hugo Chavez even joked that President Bush was "to the Left of me (Chavez)" after President Bush nationalized the financial sector.
President Bush has expanded the role of the government in a way that has only one logical conclusion, and that is the socialization and nationalization of all major industries. The Democrats, and President Elect Obama have even made a campaign platform out of wanting to nationalize the health care industry, and the airline industry is likely to be looking for the next handout from the Federal Government as well.
The $700 bailout bill was a loud and clear signal broadcast to all major corporations and industries that a viable and profitable business model is not necessary. It made it clear that as long as you are part of Big Business, you are simply "too big to fail," and the government will be there to take up the slack on the taxpayers dollar. The automakers need to face up to their failures. This administration and the next need to say stand up for the American people and let them know that the price of failure is failure, not billion dollar checks from the federal government. It's a very simple premise. If you reward failure, then you are certain to inspire more of it.
The voice of the American people may not have been heard by Congress when it came to the $700 bailout bill, but it is imperative that the American people be heard this time. Stop bailing out businesses. Stop rewarding failed businesses for their failure. Say no to bailing out the auto manufacturers.
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