As our misguided federal government considers yet ANOTHER bailout, this time the auto industry, I can’t help but wonder what industry will come next with their hand out.
My question is this: Why should WE (the taxpayers) allow our representatives to bail out an industry that has not followed sound business practices. If we do so, we are, in effect, rewarding bad behavior. There is alot of talk that if the big three fail, we will see 1 in 10 jobs evaporate. Folks, that is just not so.
The plants will still be there, the workers will still be there, and some enterprising individuals will buy those resources at a good price and create a NEW auto company. You CAN’T use static analysis on our economy.
I voted against our republican senator (McConnell) precisely because he voted FOR the financial industry bailout. I will vote AGAINST any of my representatives who support any bailout of any industry. I think that not only is it a GROSS misuse of taxpayer funds, it is FLAT-OUT ILLEGAL and a VIOLATION OF THE AUTHORITY of congress under the articles of the United States Constitution
Here is the authority of congress per Article I, section 8 of the U. S. Constitution:
“The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;
To establish a uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the United States;
To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
To provide for the punishment of counterfeiting the securities and current coin of the United States;
To establish post offices and post roads;
To promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries;
To constitute tribunals inferior to the Supreme Court;
To define and punish piracies and felonies committed on the high seas, and offenses against the law of nations;
To declare war, grant letters of marque and reprisal, and make rules concerning captures on land and water;
To raise and support armies, but no appropriation of money to that use shall be for a longer term than two years;
To provide and maintain a navy;
To make rules for the government and regulation of the land and naval forces;
To provide for calling forth the militia to execute the laws of the union, suppress insurrections and repel invasions;
To provide for organizing, arming, and disciplining, the militia, and for governing such part of them as may be employed in the service of the United States, reserving to the states respectively, the appointment of the officers, and the authority of training the militia according to the discipline prescribed by Congress;
To exercise exclusive legislation in all cases whatsoever, over such District (not exceeding ten miles square) as may, by cession of particular states, and the acceptance of Congress, become the seat of the government of the United States, and to exercise like authority over all places purchased by the consent of the legislature of the state in which the same shall be, for the erection of forts, magazines, arsenals, dockyards, and other needful buildings;–And
To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof. “
and here is the kicker that caps it off and LIMITS what congress CAN do, the ninth and tenth amendments to the constitution, the last two in the bill of rights:
Amendment IX
The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.
Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
Nowhere in that list does it enumerate that Congress can use our money to help private industry. In fact, section 9 even goes so far as to say that congress can’t pass any appropriation or tax that would favor one port over another. If congress directs revenue to an industry that is concentrated in only a few areas, isn’t that showing preference of some ports over others?????
“No preference shall be given by any regulation of commerce or revenue to the ports of one state over those of another: nor shall vessels bound to, or from, one state, be obliged to enter, clear or pay duties in another.
No money shall be drawn from the treasury, but in consequence of appropriations made by law; and a regular statement and account of receipts and expenditures of all public money shall be published from time to time. “
This, to me, is a no-brainer, folks. Now, it does NOT prevent the states from doing so, and if the states affected wish to do so, then more power to them, but the lawmakers in those states should be FOREWARNED that to do so might just affect their imagined job security.
It is my never to be humble opinion that congress overstepped their bounds with the first 700 BILLION (with a capital B) dollar giveaway to the financial sector, not to mention the previous airline bailouts and the loan to Chrysler Corp way back when.
It is ALSO my opinion that those “representatives” who voted for any of these misappropriations of funds should be voted out of office at their next election, if not brought up on charges of malfeasance.
I wonder how many of you out there share my opinion on this? I’d be willing to bet there are quite a few. I’m probably one of the few actually dumb enough to publish my views so that the whole world can see them.
As far as Chrysler goes, did they learn their lesson??? HELL NO! They continue to make overpriced unreliable junk and are again on the verge of bankruptcy. The only way they’ll survive is if GM can buy them out with OUR MONEY. Yes, folks, just like PNC bought National City Bank with OUR MONEY. Chrysler made some REALLY STOOPID business decisions, like buying ill-fated American Motors Corporation /Jeep-Eagle, and didn’t pay attention to quality. They have the style aspect down for sure, but style only gets you so far.
I think the ideal venture would be to have a car styled by Chrysler, engineered by BMW, powered by AMG or GM, and built by Honda.