US Auto Industry - Should it say or should it go now?

Whether it is throwing money away or not, I don’t understand how Congress is not authorizing cash or loans for GM, Ford, and Chrysler. From a political point of view, I see it as a no-lose situation. If the car companies recover then they are heroes and if they don’t recover nobody will remember the money and they can always blame the car companies for being inefficient. As for President Bush, this is a last chance to have something positive on his resume. If he authorizes a bailout and the companies recover, then he can always say that he single-handily saved the US auto industry (which might actual be true). And if he authorizes the money and it ends up just be wasted than he would still be the second worst President ever. Imagine adding the destruction of the US auto industry to his record of having the largest attack on US soil under his watch, not catching those behind the attach, destroying our international credibility, royally screwing up a war (after lying about the reason to have the war in the first place), ramping up of debt to ridiculous levels, having the housing market and stock market crash, have the entre financial system crack down, drastically increased unemployment, and a recession.

As for the auto industry, you are the ones to blame for the problems you are in. Actually, I blame the stock market as well. One reason I hate the stock market is that companies are too concerned about short-term goals and profit and don’t invest in long-term stability and growth. Why invest in higher efficiency cars when they won’t be ready for ten years, well that was already 10 years ago and it may be too late now.

As a tax payer, I have no problem helping the auto industry, assuming that they can be forced to try to be self-sustainable. Also, they have to break up how many brands they each have. GM needs to break off from Cadillac, Chevy, Saab, and Saturn, while Ford needs to splinter off Volvo and Jaguar. This way the very worst smaller companies can be allowed to fail without bringing down the whole system.

However, I want that money to come from military spending. We can’t afford ballistic missiles, nuclear submarines, laser defense systems, and stealth fighter right now. We have to prioritize.

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