GOP Leadership Unconvincing on Bailout Argument
The GOP through the voice of Senate Minority Leader Mitch McConnell does not provide a convincing argument that Republican leadership supports bankruptcy for the auto industry rather than a taxpayer funded bailout. Simply arguing over the details of a bailout does not protect the American taxpayer. If the auto industry is unable or unwilling to formulate a radical approach to solve the industry’s problems no amount of taxpayer money will succeed in solving the problem.
As for others who may be affected by an auto industry failure what is different about that then all the past failures of other businesses. Are businesses that tied themselves to the auto industry incapable of transitioning to a different industry? Are workers displaced by failure in the auto industry incapable of doing what others do when they lose a job? Isn’t labeling a business as too big to fail just rhetoric for believing you have enough political influence to have someone else pay for your mistakes?
When animals dominated the American landscape of transportation in the ‘horse and buggy’ days what happened to all the people and jobs involved in that arrangement when the internal combustion engine and mechanically powered vehicles arrived on the scene? Did the government bail someone out then? Or did people adjust to changing times and develop their own solutions?
A more recent McConnell response on video is only currently available in Windows Media at republican.senate.gov won’t be linked here as this blog will not promote MS products. But the text version is here. (click)
Stanford Matthews
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