Executives of General Motors, Ford and Chrysler are optimistic about their chances of getting inexpensive federal loans to help tide them through the credit crunch and sales downturn.
The discussions, which have come to light in recent weeks, have the execs smiling like possums not only because the government set a precedent by bailing out Wall Street, but also because itâ??s an election year.
Theyâ??d like to see Congress OK the loans this fall. And it would be difficult for John McCain and Barack Obama to say â??Noâ?? to the swing state of Michigan as well as the auto-dependent states of Ohio and Indiana, which also are in play this November.
Should the government offer the loans?
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There are many jobs in Indiana that rely on the auto industry but more and more are coming from the likes of Honda, Subaru, and Toyota. Michigan has not done as good a job of diversifying its economy for the 21st century. If it continues to rely on companies that have had steep financial losses for over a decade now then perhaps they would be wise to encourage those auto manufacturers that are doing well to build plants in their state.
Shoot, the guys in DC that are supposed to serve us have failed miserably in doing their jobs. This would be one more example. Add your own conntributions to this list:
1. Failure to adequately secure our borders
2. Failure to control spending (remember it is Congress that spends)
3. Failure to work toward energy independence (they've done just the opposite)
4. Failure to provide any decent alternatives to the broken public education system (remember no child left behind which promotes testing over learning and quantity over quality
5. Failure to focus on the issues important to taxpayers (remember Dan Burton and the silly investigation of drug use in Baseball instead of providing a sane energy policy)
6. Failure to provide a simple, workable tax system (say hello to Fair Tax and goodbye IRS)
So, what do we do - try to promote 1 of 3 Senators to the Presidency - why, they have ALL failed to do their jobs and yet they want to be promoted? No matter whom wins, we get what we deserve.