What's the next bright idea that legislators on Capitol Hill and the Department of Treasury have come up with over the past week? Apparently, Washington is considering the idea of using a part of the 700 billion dollar stimulus package or a new 25 billion dollar package to bailout Detroit Automakers.
Over the past several years, American automakers have suffered continuous loses and declines in sales. GM has made several unsuccessful efforts to revive consumer interest. As a result, thousands of jobs have been eliminated from most American automakers. The current financial crisis is beganing to take serious toll of these companies, prompting concern from Washington. However, it may be quite some time before automakers see any help from the government. (Thank goodness) Democrats have found large amounts of opposition to the passage of a bill that would give support to automakers. Therefore, it's likely that no help will come until the end of Bush's presidency.
Now, let me tell you why I said, "Thank goodness".
First, I don't think that it's the government job to save every single company that is suffering from the economic downturn that we're currently experiencing. While I realize that it is necessary to bailout some companies in order to reduce economic fallout, we can't save them all, especially American automakers. The American automakers are not suffering because of the eocnomic downturn they're suffering because they produce inferior products that cannot keep up with foreign competition. It really is that simple. Therefore, if any help is offered to those companies, I believe it should be contigent upon the automakers developing radically new designs and developing energy efficent cars that use hydrogen fuel and solar power. Sadly, I know that probably won't happen and that's why I would prefer to just let those companies burn up in the financial destruction.
I know that sounds heartless and you might think that I don't care about the thousands of jobs that would be lost, but the truth is that's part of life. Life just isn't fair sometimes. Besides we could always convert those car plants into foreign production facilities and rehire the laid off workers.
Who knows? One thing I do know though is that's there's no such thing as a free lunch.
If only we had learned that before all this mess.
Sunday, November 16, 2008
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