Tuesday, November 25, 2008


Every newscast I have seen lately indicates our Washington political pundits are bending over backwards to find a way to bail out the ailing the automobile and financial industry. This problem is staggering.

I am not an educated economist, but I can add and subtract simple mathematical problems. The world knows that our automobile industry has been riddled with mismanagement, and totally unrealistic union contracts and expectations. Additionally, we keep hearing that the foreign owned automobile companies are operating profitably, so why can’t American companies do the same? Hey dummies…the business models of the two are not the same. Foreign automobile companies are operating with their government’s sizable support in right to work states in the U.S., and they are not burdened with huge employee benefit programs like the American manufacturers.

Just yesterday I saw a poll on the Dallas, Texas Fox Television station that asked the question as to whether the government should bail out the auto industry. There were over 2,332 respondents and the results indicated that 70.32% said no, 17.58% said yes, and 12.10% had no opinion. Let’s assume that this reflects the opinion of a similar percentage across the country. Take into consideration that the results would be different in Michigan, but remember that Dallas has U.S. auto plants, too.

I wonder how our political leadership can push for bail outs when the over-whelming percentages of American citizens do not support rescuing the auto industry. Apparently many Americans think bankruptcy is preferable.

You need not be a Republican or Democratic solely to know that our elected officials have a big time obligation to the American Union movement. The massive Union financial support for political elections is obviously influencing this debate.

In yesterday’s edition of NEWSBLUEZETTE (a subscriber based daily insider newsletter for TV news professionals) there is this: “If the US auto industry goes in the crapper, will TV stations and networks, which rely heavily on automobile advertising, need federal bailouts?”

The noon news on WGN-TV Chicago yesterday asked their viewers: “Do you support the government bailout of Citigroup? The results reported were 24% supported and 76% were against the bailout. Here is another example of a huge disconnect by the voters to government actions.

Our government just gave Citigroup a ton of money again, and I just cannot figure out where all this money is coming from. Are we not digging a deeper hole for our future financial obligations that we, our children, grandchildren and beyond will have to pay? Surely the people working in the automobile industry directly and indirectly would be dramatically influenced if they are not bailed out, but where does this end?

Who will bail you and me out?


1 comment:

Texas Lieutenant said...

If some of these bailouts don't start working, there may be nothing left to bailout! And sure nothing left to bailout with. We're borrowing all the bailout money anyway by increasing the national debt. Just doing what we say was so wrong with the mortgage lending busines... TOO much borrowing!